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The real estate market in Dubai is flourishing at a faster rate every year. The growing tourism, world-class infrastructure, stable economy, and tax-friendly environment are factors that attract significant foreign investments in this Emirate. According to the latest report by a real estate data platform, the Dubai property market recorded its strongest start with 12,119 sales transactions to date. Therefore, If you are planning to embark on an entrepreneurial journey in the real estate industry, chances are there for you to win big.
If you wish to start a real estate brokerage firm, there is a happy news for you, right now the UAE government is allowing 100% ownership for real estate firms in Dubai. Previously a foreign investor was never given any ownership rights. In this article, we will give you a know-how about the steps for starting a real estate business in Dubai.
It is recommended to include “real estate” or “broker” in your trade name as the trade name should be related to your business activities.
Submit all necessary documents to the Department of Economic Development. Most of the registration work can be performed online for receiving initial approval. However, you need to re-submit initial documents along and add a few more to receive the final approval. After this evaluation, you will be granted a commercial license to conduct operations related to the buying and selling of real estate.
Obtain the necessary qualification for becoming a real estate entrepreneur. You need to undertake a professional training or course and obtain a certificate from the Real Estate Regulatory Authority (RERA) in Dubai. It is necessary to obtain the approval from RERA.
Apart from RERA approvals, you may also require certain additional approvals listed below:
After obtaining the necessary certifications and approvals, you can set up a physical office and that gives your business credibility and helps buyers to reach out to you easily. Location of your office also matters in creating a good impression among customers.
If you need any assistance for setting up a real estate business in Dubai, contact us for a free consultation at (+971) 585139299 or email@example.com. We have an expert team who provide comprehensive guidance for real estate business setup, right from the initial to the final stage.