If you are planning to setup 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 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 it easier than ever to navigate the administrative procedures involved in starting a real estate business in Dubai.
In this article, you’ll discover the cost of setting up a real estate business in Dubai. Let’s dive into the journey of establishing your own real estate business in this thriving city.
Table of Contents
What Licenses Are Required for Real Estate Business?
To setup a real estate Business in Dubai, you are required to obtain several licenses and permissions from the relevant authorities. The following licenses are essential:
a). Trade License:
This license is obtained from the Department of Economic Development (DED) and authorizes you to operate a real estate business.
b). Real Estate Brokerage Card(RERA Certification)
This Real Estate Brokerage card is obtained from the Dubai Land Department (DLD) after the trade license and allows you to engage in brokerage activities, such as buying, selling, and renting properties.
c). Ejari:
Dubai operates a rental agreement system known as Ejari, which is a mandatory requirement for landlords and property owners. Under this system, they are required to register their tenancy agreements with Ejari.
How to Start Real Estate Business in Dubai, UAE?
To start a real estate Company in Dubai, UAE. here are the steps you need to follow in order :
1. Choose Legal Structure to Start a Real Estate Business
Decide whether you want to establish your real estate company in dubai free zone or on the Dubai mainland. Most people prefer free zones for real estate businesses.
2. Pick a Legal Structure
Choose between a sole proprietorship or a Limited Liability Company (LLC) for your real estate brokerage. Some of the most popular legal structures in Dubai right now are:
- Sole Proprietorship
- Limited Liability Company
3. Register Your Trading Name
Once you’ve decided on the legal structure, apply to the Department of Economic Development (DED) to get your chosen trade name registered.
4. Get Preliminary Approval
Submit the necessary forms and documents, including passport and visa copies, and educational certificates of the owner or manager and shareholders, to obtain preliminary approval.
5. Get RERA Approval
Enroll in a formal qualification from the Dubai Real Estate Institute (DREI) and pass the Real Estate Regulatory Agency (RERA) test to get the required credentials.
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6. Prepare Memorandum of Association
Depending on your legal structure, create and sign a Memorandum of Association (MoA) for your business. This document needs to be notarized and legalized.
7. Find Office Space
Secure office space for your business. If you’re renting, arrange the tenancy agreement (Ejari) with the relevant parties.
8. Apply for Trade License
Before you start operating, obtain the Dubai real estate trade license that permits your business activities.
9. Register with RERA
After obtaining the license, complete the necessary paperwork to register your business with the Real Estate Regulatory Agency (RERA).
10. Register with Government Departments
Register your real estate brokerage with the Ministry of Labour (MOL) and the Department of Naturalization and Residency Dubai (DNRD) to employ foreign workers and sponsor their visas.
How much does it cost to start a real estate business in Dubai?
After obtaining your RERA training certificate, you can apply for an estate brokerage license. RERA charges AED 5,020 per activity, and an LLC license costs around AED 20,000, so in total approximately AED 25,000.
Advantages of Starting a Real Estate Company in Dubai
Starting a real estate business in Dubai offers several benefits. Here are five key advantages of establishing a real estate company in Dubai:
• Booming Real Estate Market
Dubai’s real estate market is highly sought after by investors and continues to grow. With increasing demand for properties, there are numerous opportunities for real estate businesses to thrive.
• Strategic Location
Dubai’s strategic location between Europe, Asia, and Africa makes it a global economic hub. Real estate companies in Dubai have easy access to a diverse pool of potential clients and partners.
• World-Class Infrastructure
Dubai has invested significantly in developing top-notch transportation, communication, and utility infrastructure. This has transformed Dubai into a technologically advanced city, providing strong support for the real estate sector and facilitating smooth business operations and customer access to properties.
• Stable Economy
Dubai’s stable and diverse economy places a strong emphasis on the real estate sector. The government has implemented measures to ensure market stability and transparency, making Dubai an attractive destination for real estate enterprises.
• Ease of Doing Business
The Dubai government has implemented various policies to simplify business operations in the city. This includes streamlined licensing processes, a robust legal framework, and a supportive regulatory environment.
Real Estate Brokerage Business in Dubai with 100%Â Ownership
Exciting news for aspiring real estate entrepreneurs! The government of Dubai now allows 100% foreign ownership of real estate brokerage businesses, removing the previous requirement of having local Emirati partners. Despite some misconceptions, it is now easier than ever to own a real estate company in Dubai with full ownership. Take advantage of this golden opportunity to establish your own real estate agency in Dubai and tap into the thriving market. Don’t hesitate any longer; the time is perfect to turn your dreams into reality.
Steps of Starting a real estate business in Dubai
Starting a real estate business in Dubai involves several essential steps:
- Name Approval
- Initial Approval + Tasheel
- Memorandum of Association
- UAE local partner
- Real Estate Brokers Registration Services
- Good Conduct Certificate
- Dubai Land Department Approval
- Dubai Rented Office Space
how to get rera license in dubai
Obtaining a RERA license in Dubai involves these steps: Apply for residency visa, follow the application process, register for DREI certified training, take the RERA exam, and acquire your realtor license after approval.
How much does it cost to get RERA license in Dubai?
Initiating the licensing process necessitates a RERA training certificate. RERA charges AED 5,020 per activity, and the cost of an LLC license is approximately AED 20,000. Thus, the total comes to around AED 25,000.
How long does it take to get a RERA license in Dubai?
The Dubai Land Department (DLD) typically issues the RERA license within two to three days of your application. Upon receiving the license, your contact information will be listed among the licensed real estate agents on their platform.
How can Company Setup Consultants help you?
If you are looking to start a real estate business in Dubai but do not know where to get started, then you are in the right place. This is because Company Setup Consultants have started various businesses for both locals and foreigners from all over the world.
Contact us our experienced team for a complimentary consultation and gain valuable insights into the real estate business in Dubai.
To Speak with our Experienced Business Consultants for further information and assistance, call us at +971-582-595-164. Send a WhatsApp Message for Chat Query on +971 582595164 or email us at info@companysetup.ae.