What are the fees associated with cancelling a DED trade license?

If you wish to cancel a DED (Department of Economic Development) trade license in Dubai, UAE, there are fees and penalties that may apply. The exact fees and penalties depend on the specific circumstances of the cancellation, such as the reason for cancellation, the duration of the license, and the type of business activity.

Here are some of the fees and penalties that may apply for cancelling a DED trade license:

License cancellation fee: The DED may charge a fee for cancelling the license, which can range from AED 100 to AED 5,000 depending on the duration of the license.

Fines and penalties: If the license is cancelled due to non-compliance with regulations or failure to renew the license on time, fines and penalties may be imposed by the DED.

Outstanding dues: Any outstanding fees, taxes, or penalties owed to the government or other entities must be settled before the license can be cancelled.

Liquidation fees: If the company has assets or liabilities, additional fees may apply for the liquidation process.

It is recommended to consult with a business consultant or a legal professional to determine the exact fees and penalties that may apply for cancelling a DED trade license, and to ensure that all necessary steps are taken to cancel the license properly.

What are the penalties for operating a business without a DED trade license?

Operating a business without a DED (Department of Economic Development) trade license in Dubai, UAE, is illegal and can result in severe penalties and consequences. The penalties can vary depending on the specific circumstances of the case, such as the nature of the business activity, the duration of the operation, and the number of employees involved.

Here are some of the penalties that may apply for operating a business without a DED trade license in Dubai:

Fines: The DED may impose fines ranging from AED 1,000 to AED 50,000 for operating a business without a license.

Closure of business: The DED may order the closure of the business and seal the premises until the necessary permits and licenses are obtained.

Legal action: The DED may file a legal case against the individual or company for violating the rules and regulations, which can result in imprisonment, deportation, or both.

Immigration penalties: Operating a business without a license can also result in immigration penalties, such as cancellation of visas or work permits, and deportation.

It is important to obtain the necessary permits and licenses from the relevant authorities before starting any business activity to avoid penalties and legal consequences.

 It is recommended to consult with a business consultant or a legal professional to ensure compliance with all regulations and requirements.