The real estate market in Dubai has observed rapid growth throughout the years. Also by 2022, many new rules being implemented makes it easier to invest in real estate business. Want to know all about how to start a real estate business in Dubai? This article is here to help your through all of it.
Benefits of starting a real estate business in Dubai includes:-
- The annual yields are impressive.
- The property market is very widespread and diverse in Dubai.
- The transparent legal system of Dubai makes it easier to make safe investments.
- Dubai has an open market hence, foreigners can invest too
All About RERA
RERA refers to Real Estate Regulatory Agency. You will be provided with a certified training after which you have to sit for an exam. You will be able to apply for the RERA license after passing that exam.
The costing of RERA license depends upon your education. A bachelor’s degree holder will have to pay AED 3200. Anyone without a bachelor’s degree will have to pay AED 6300.
The RERA training course costs around AED 2500 to AED 3500.
Major Steps Involved in Registering for a Real Estate Company in Dubai
- Name approval
- Initial approval and Tasheel
- Memorandum of association
- UAE Local partner
- RERA approval
- Certificate of good conduct
- Approval of Dubai Land department
- Office space rented in Dubai
Steps to Business Setup in Dubai
Name your trade. Using offensive or blasphemous language is illegal.
Choose your jurisdiction among the following- mainland, free zone, and offshore. Each has their own business rules.
Decide upon a legal structure for your trade. Some of the common legal structures include
- Sole Establishment
- Limited Liability Company
- Free zone company
- Foreign company branch
The following documents are required for your application
- The application form of registration from DED
- A copy of your passport
- Your Emirates ID copy
- Your certified tenancy contract of the office space
- RERA license
You could need permission from other relevant authorities if the real estate company has to take part in unique activities (like real estate construction). You can get specific advice from Creative Zone.
If you are a foreign citizen, you need to process your visa and your family’s visa. The steps are as follows
- Getting an entry permit
- Changing your status
- Taking a medical exam
- Getting your Emirates ID
Costing Involved with Starting this Business
Let us now take a look at the costing involved with starting a real estate business in Dubai:-
- We have discussed the RERA license costs for starting this business.
- Apart from that cost, you need an additional AED 15000 to AED 25000 to start this business.
How Clever Corp can Help you With This
One of the top companies assisting entrepreneurs in Dubai and overseas in establishing their ideal company in the field of their choice is Clever Corps. Our services are relied upon by a sizable and distinguished clientele worldwide.
From the very beginning of the company establishment procedure to the very conclusion of it, and beyond, we offer complete and personalised services for real estate business setup.