Due to its high and comparatively steady value, real estate is one of the best investment possibilities available globally. When it comes to real estate, Dubai is the ideal location to invest in. The UAE, whose commercial capital is Dubai, is one of the wealthiest and most developed economies, with a highly dynamic and forward-thinking business culture characterized by ongoing development and progress.
Despite the Covid-19 pandemic, it hosted the just-finished Expo 2022 Dubai successfully, demonstrating that to the rest of the world. It demonstrated once more how secure and alluring Dubai is as a location for investments.
You must be wondering is the real estate business is profitable in Dubai. Everything you need to know about starting a real estate firm in Dubai is covered in this article.
Why should you invest in the real estate industry in Dubai?
Ahead of markets like London and New York, the real estate sector in Dubai has one of the highest yields worldwide.
There is now a resurgence of interest in Dubai’s real estate market among buyers and investors, and it is expected to grow sustainably over the long term. September 21 was the strongest month in the previous 8 years for transactions in the sector, totaling AED 16.2 billion.
Setting up a real estate business in Dubai has three major advantages that particularly stand out. First, in a prosperous and stable economy, investors can take advantage of a steady, predictable, and ongoing cash flow. Second, Dubai provides diversification, tax benefits, and high returns. Finally, the real estate market is predicted to soar even higher in the future due to the enormous surge in demand from all over the world. You can also start as a freelance real estate agent in Dubai.
How to Start a Real Estate Business in UAE?
A few factors must be kept in mind and documented while starting a real estate firm in Dubai, including:
- Choosing the corporate structure.
- Registering for and passing the RERA test.
- The procedure for registering a real estate company in Dubai.
- Following the RERA assessment, the registration process for businesses.
- Choosing the company’s name.
- Estimating the associated expenditures.
- Locating a nearby sponsor.
Dubai’s Real Estate Company Structures
When it comes to real estate brokerage companies in Dubai, the four types of company structures that you can invest in are as follows:
- Limited Liability Company.
- Sole proprietorship.
- Company Civil.
- a Free Zone establishment.
How to obtain a real estate license in Dubai?
In Dubai, the real estate industry is highly sought after, and there is year-round fierce competition for investor licenses. You can apply for a real estate business license or property management license in Dubai at the Dubai Economic Development (DED). This includes a variety of commercial activities:
- contracting with security, maintenance, and cleaning firms.
- brokers in real estate.
- administrative organizations that provide real estate.
Important Steps for Registering a Real Estate Company in Dubai
- Approval of a name
- Tasheel and preliminary approval.
- Agreement in writing.
- Local partner in the UAE
- RERA-issued approval.
- Certificate of good behavior.
- Clearance from Dubai Land Department.
- Dubai leased a workplace.
How to register a real estate company in Dubai?
The steps for real estate business setup in Dubai are as follows–
- Trade Name: In Dubai, you must choose a company name before opening any form of establishment. That is the beginning of the formation of a firm.
- Request for initial approval: Receive the initial approval from the authorities after submitting the necessary application form and supporting materials such as an investor passport copy and a photo.
- Real Estate Regulatory Agency (RERA) approval: An investor receives approval from RERA, opening the path to move forward, after enrolling in the RERA course and passing the test.
- Legal Paperwork: To do this, select an office location and draft a rental agreement. The investor must draft the Memorandum of Association (MoA) in the case of an LLC firm structure. A partnership agreement must also be prepared in addition to this.
- DED License: To get a real estate license from the authority, all the investor’s paperwork, including the MoA, RERA permission, tenancy contract, etc., must be presented to the DED.
- Signing up with RERA: A corporation must register in order to receive a RERA registration certificate. To obtain a registration certificate, all supporting documentation must be presented.
- Obtaining a Broker’s Card: A Broker’s Card is required to launch any kind of real estate business in Dubai and is obtained when the investor completes the RERA registration process.
What is the cost of setting up a real estate business in Dubai?
Location, business size, budget, and other variables all affect how much it cost to start a real estate business in Dubai.
Setting up a real estate business requires passing the RERA exam, and the cost of the exam is determined by the investor’s educational background. It differs for people who hold a bachelor’s degree, or a master’s degree, and those who do not. To know the exact real estate license cost in Dubai, kindly connect with our experts.
Documents Needed to Open a Real Estate Agency in Dubai
- Application form with signature.
- Business plan.
- Copies of the investors’, shareholders’, and managers’ passports.
- Authentic NOC certification (if required).
How to expand your Dubai real estate business?
Here are five suggestions for expanding your Dubai real estate business:
Develop a well-rounded company strategy
A business plan aids in defining your specialization in real estate as well as your fees, cash flow needs, and goals.
Consistent marketing
Your company needs to consistently engage in a number of crucial marketing activities, including updating web listings, promoting your properties on social media, and holding promotional events.
Conduct Research
Find out what your rivals are up to, as well as new tastes and trends in real estate and what the top developers in Dubai are currently working on.
Utilize current technology
To deliver more persuasive marketing, you need to have a website, understand how to use customer relationship management (CRM) software and make investments in technologies like virtual reality tours or drones.
Develop your leads
Spend time getting to know potential customers so you can learn more about what they genuinely want and stay in touch with them.
Conclusion
One of the top companies assisting investors in Dubai and overseas in establishing their ideal enterprises in the market of their choosing is UAE Expansion. We have a sizable and illustrious blue-chip clientele that relies on us globally.
From the very beginning of the company establishment procedure to the very conclusion of it, and beyond, we offer complete and personalized solutions for real estate business setup.
