A Company cannot operate with an expired licensed. Apart from the potential fine that can be imposed by an Authority for operating without a valid license, there are also late-renewal penalties Companies are expected to be aware of.
It is also important that you provide your local UAE bank with a copy of your renewed license on an annual basis in order to avoid paying monthly penalties here too, which will automatically be deducted from your corporate account upon expiry of your license.
During each renewal process, we organize all the necessary pre-requisites, such as insurance policies, office inspections and office health and safety equipment, as may be required.
At Magus Consulting, we have a custom-made client and project management system which stores all of our clients information and company details, including license and immigration card expiry dates. This system ensures that we our account managers send reminders well in advance to inform our clients of approaching expiry dates so we are able to initiate the renewal process without delay by preparing the necessary documents in advance to avoid any delays or additional costs.