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Dubai’s real estate market has indeed been highly profitable since the introduction of freehold property, allowing expatriates to own real estate in the Emirates. Over the past two decades, it has experienced substantial growth, even overcoming the economic downturn of 2008. In the previous year, the Dubai Land Department recorded transactions worth AED 81.03 billion (US $22.06 billion). This upward trend is expected to continue due to various factors, such as long-term residence schemes, regional economic activities, infrastructure improvements, and the introduction of holiday homes, among others. The market holds tremendous potential, and in this article, we have accurately transcribed the requirements for registering the most popular real estate-related business activities in Dubai. For detailed steps to register a Mainland License in Dubai, please refer to the official resources provided by the relevant authorities and consult with professionals experienced in the registration process.
Benefits of Real Estate in Dubai
Starting a real estate business in Dubai offers several benefits. Firstly, Dubai is a global hub for real estate investment, providing access to a dynamic market with high demand for residential, commercial, and retail properties. The city’s strategic location, modern infrastructure, and stable economy attract local and international investors. Additionally, Dubai offers a business-friendly environment with tax incentives. The presence of free zones provides opportunities for foreign ownership and repatriation of profits. Furthermore, Dubai’s transparent legal framework, efficient registration processes, and robust regulatory system foster confidence and security for real estate transactions. The city’s diverse population, strong tourism industry, and ongoing infrastructure development projects contribute to a steady demand for real estate, ensuring potential growth and profitability for entrepreneurs in the sector.
How to Set Up a Real Estate Business in Dubai
Setting up a real estate business in Dubai involves keeping a few things in mind and on paper, such as:
- Deciding the company structure
- Deciding the name of the company
- The registration process for setting up a real estate business in Dubai
- Appearing for and clearing the RERA examination
- Assessing the costs involved
Real Estate Company Structures in Dubai
Following are the four types of company structures in Dubai that you can invest in when it comes to real estate brokerage companies in Dubai:
- Limited Liability Company
- Sole Proprietorship
- Free Zone establishment
How to Get a Real Estate License in Dubai
The real estate business in Dubai, UAE is a sought-after one, with intense competitiveness in the market for investor licenses all year round.
The property management license/real estate license in Dubai can be applied from the Dubai Economic Development (DED).
Key Steps for Real Estate Company Registration in Dubai
- Name approval
- Initial approval
- Memorandum of association
- Dubai rented office space
- Trade license
- Approval from RERA
- Bank Account
The procedure for registering a real estate company in Dubai
- Trade Name: All establishment types in Dubai require you to first decide on a company name. That marks the first step of company formation.
- Initial Approval Request: Submit the required application form, and supporting documents such as an investor passport copy, photograph, etc., and get the initial approval from the authorities.
- Legal Documentation: This requires choosing an office space and preparing a tenancy contract. In the case of an LLC company structure, the Memorandum of Association (MOA) must be prepared by the investor. Along with this, a partnership agreement needs to be made ready.
- The DED license: All documents of the investor along with the MOA, tenancy contract, etc. should be submitted to DED to obtain the real estate license from the authority. The cost of a DED license is approximately AED 25000 (for services license).
- Registration with RERA: Registration is required for a company to obtain a RERA registration certificate. All documents need to be submitted to secure a registration certificate.
Documents Required for Setting Up a Real Estate Business in Dubai
- Passport copies of investors, all shareholders, and managers
- Original NOC certificate, (if required)
How HIGH PLAN SERVICES Helps with Setting Up a Real Estate Business in Dubai
HIGH PLAN SERVICES Corporate Services is one of the leading firms helping investors in Dubai and abroad to set up their dream businesses in the industry of their choice. We have a huge and prestigious blue-chip client base around the world that depends on our services.
We offer comprehensive and customized solutions for real estate business setup, right from the beginning of the company setup process to the very end of it, and beyond.