How to Start a Real Estate Business in Dubai, UAE

A fantastic place to own real estate is Dubai. Returns from high-standard properties are higher than many other property hot spots. As the tourism industry is thriving and the upcoming Expo is yet to arrive on the shores, this would be a great time to invest in real estate.

Great reasons to invest in real estate in Dubai:

• No annual property taxes
• No tax on rental income
• Freedom to repatriate your profits if in a free zone.

A company can best conduct Purchasing and managing property. So your first point of contact should be a company if you are interested in investment. Blackswan can guide you in the entire process.

Steps To Start A Real Estate Company In Dubai

We, at Blackswan, will work with you to decide the best type of setup for your business which may be either mainland or free zone. Business in a free zone is beneficial as it has tax exemptions and other advantages. But one can trade freely in the local UAE market, in mainland business setup. Once the decision is made, we will guide you through the license application process.

Step 1: Choose Your Business Activity

Firstly determine your business activity which will depend on the type of real estate company that you wish to run. That could be holding property or acting as a property manager or real estate broker.

Step 2: Choosing Your Company Name

Choosing a company name is the next step in accordance with naming conventions like, no blasphemous or offensive language, no references to well-known institutions or any abbreviations of your name.

A legal entity like FZE or LLC has to be attached with no resemblance to any other company. Black Swan will help you with these initial decisions.

Step 3: Applying For Your License

There is a slight difference in the license application process whether you set up in the mainland or a free zone. Application should be submitted to the local municipality or Department of Economic Development (DED), if setting up in the mainland and can be applied directly if in a free zone.

Additional accreditations may be needed based on the type of business you intend to run. You will need to pass the Certified Training for Real Estate Brokers course issued by the Real Estate Regulatory Authority (RERA) to operate a real estate brokerage.

Step 4: Applying For Your Visa

You can also help you apply for your UAE visa and Emirates ID which involves four stages including a medical fitness test and biometric capturing that usually takes less than a week.

You can also sponsor others such as children, a spouse or domestic staff for their visas being holders of a UAE business license.

Documents Required To Start A Real Estate Company In Dubai

Black Swan can manage the entire process for you to ensure smooth running. We’ll require the following documents to make your trade and NMC license applications on your behalf. This includes:

• Your signed application form
• A business plan
• Passport copies of each individual (Shareholder/s and General Manager)
• Original No Objection Certificate (if required)

What Is The Cost Of Opening A Real Estate Brokerage Company in Dubai?

There are several costs to start a real estate business in Dubai, UAE. The real estate license cost in Dubai ranges from AED 15,000 to AED 25,000, which is inclusive of your residency visa (no need to mention inclusive of residency visa). RERA real estate brokers’ course fee of AED 2,500 (3000) has to be borne if you intend to run a brokerage. After 100% expat ownership law has kicked in even expats can own 100% ownership in real estate brokerage firms.

Start Your Real Estate Business In The UAE With Blackswan

Getting the right guidance beforehand is the key when starting a UAE real estate business. To eliminate any potential hassles that might arise, it is advisable to undertake the steps with the assistance of a registered company.

Blackswan can help you get your business up and running within a matter of weeks.

Primary transitions and establishment processes, account opening assistance, VAT registration, reinstatement, and renewal services are offered by us. So if you are planning to start a business in Dubai, feel free to talk to Blackswan.

Originally posted 2021-09-29 07:52:08.