Real Estate Consultancy
Real Estate Consultancy in Dubai
If you are planning to set up a business in UAE? Starting a real estate business in Dubai presents a lucrative opportunity due to its impressive infrastructure, strategic location, stunning skylines, trading prospects, thriving tourism industry, and attractive tax policies. Dubai has become a global hub for foreign investments, offering remarkable landmarks like the Burj Khalifa and Marina101. The city's property market is experiencing rapid growth, providing excellent returns on investment.
Furthermore, Dubai's real estate sector stands out with its efficient e-Government services. The online process enables seamless certification, license acquisition, payment processing, and visa issuance, making navigating the administrative procedures of establishing a real estate business in Dubai easier.
How to Set up a Real Estate Company in Dubai?
Legal business registration is mandatory everywhere, including in Dubai. Therefore, those keen on setting up a real estate company in Dubai can do it in either the free trade zones or the Dubai mainland.
However, free zones are typically the most favored alternative when setting up a real estate buying and selling brokerage firm in Dubai.
1.Decide Legal Structure
Choose the appropriate business structure before launching a real estate buying and selling brokerage company. This will also assist in positioning the business in the most advantageous operational and financial position.
To conduct real estate brokerage business in Dubai, there are primarily two types of business structures that may be registered:
- Sole proprietorship
- Limited Liability Company (LLC)
2.Registering a Trading Name
Once you've chosen your company's legal form or business model, you must apply to the Department of Economic Development (DED) in Dubai with all necessary supporting documentation to register your trade name.3.Preliminary Approval Request
The following step is to submit the required application form and the first documents listed below to obtain the preliminary approval request receipt.
- Application form
- Passport copies of the owner or manager and all shareholders
- Visa copies of all shareholders
- Attested high school or university degree certificates of the manager and partners.
RERA approval is the next stage. You must get the right credentials to do this. To do this, one must enroll in and complete a formal qualification offered by the Dubai Real Estate Institute. (DREI). Certified Training for Real Estate Brokers is the name of the qualification is to granted. Finally, the Real Estate Regulatory Agency (RERA) test, which you must pass after this, is next.5.Memorandum of Association
A completed and signed MoA of the business is necessary, depending on the company's legal structure. Then, the court will notarize and legalize this document.6.Choose Premises or Location for your Business
To start a business, you must have office space. If the space is on rent, make tenancy arrangements (Ejari) with the relevant parties.7.Apply for a License
You must first receive the Dubai real estate trade license to operate your firm before establishing your brokerage there.8.Registration with RERA
After receiving the license, your business can register with RERA by completing the following paperwork:
- Application form
- DED license copy
- Tenancy contract (Eiari)
- Payment receipt for RERA courses
- Location of your business
To hire foreign workers and sponsor their visas, you must register your real estate brokerage firm with the Ministry of Labour (MOL) and the Department of Naturalization and Residency Dubai (DND).10.Approval from the Dubai Land Department
Before a real estate brokerage may open in Dubai, the Dubai Land Department must approve it. The Dubai Land Department, a governmental entity, oversees real estate matters.
Benefits of Starting a Real Estate Business in Dubai
Starting a real estate business in Dubai might have several advantages. Here are Five key benefits of setting up a real estate business in Dubai:
- Booming Real Estate Market: Dubai's real estate market is highly sought-after globally, offering abundant opportunities for companies to thrive due to the increasing demand.
- Strategic Location: Dubai's position between Europe, Asia, and Africa makes it a crucial international economic hub. This means real estate businesses in Dubai have easy access to a large pool of potential clients and partners.
- World-Class Infrastructure: Dubai has invested heavily in its transportation, communication, and utility systems. This has made Dubai one of the most technologically advanced and modern cities globally. This strong infrastructure supports real estate operations and makes it easier for clients to access properties.
- Stable Economy: Dubai's stable and diversified economy significantly emphasizes the real estate sector. The government has also taken measures to ensure the real estate market remains stable and transparent, making Dubai an attractive location for real estate ventures.
- Ease of Doing Business: The Dubai government has implemented various policies to streamline business operations in the city. This includes simplified licensing procedures, a robust legal framework, and a supportive regulatory environment.
Dubai offers an excellent environment for establishing a real estate firm. It boasts a thriving real estate market, favorable tax regulations, a prime location, top-notch infrastructure, a stable economy, and business-friendly policies. These factors make Dubai an ideal place for real estate companies looking to expand their operations and increase their profits.
Why Choose Centriz Corporate Services for Starting a Real Estate Business in Dubai?
Centriz Corporate Services has lots of experience helping people start companies in Dubai. Our team of experts are chosen because they know a lot about Business, Taxes, Laws, and Money matters. We've helped clients from 50 countries, and our clients usually really like our services. To learn more, please get in touch with us now!