Real Estate Company Formation In Dubai
For you, real estate company formation in Dubai could be a rewarding option. Dubai has evolved into one of the world’s top places for attracting foreign investments, thanks to its world-class infrastructure, beautiful skylines, trading opportunities, and tourism. Dubai’s property market is always increasing at an unparalleled rate, as seen by the world’s largest skyscraper, the Burj Khalifa, and the gorgeous Marina101, Princess Towel, among others.
In comparison to other renowned places throughout the world, Dubai’s robust real estate industry offers one of the greatest returns. Acquiring certifications and trade licenses, making payments, and obtaining visas have become more accessible than before, thanks to e-Government services that make the entire procedure simple online.
Procedure For Real Estate Company Formation In Dubai
- To start your real estate company, look into the location and type of companies
To begin, locate a location for the real estate company. UAE now allows 100% foreign ownership in Mainland as well, which gives you more location options. In certain areas, regulations are less severe, attracting more businesses. Additionally, running a real estate firm in a free zone can give you advantages such as a 50-year corporate tax exemption, no personal income tax, no import duties, no currency limitations, and the avoidance of onerous regulations.
- Register a trade name for your real estate company
Try to add words like “real estate” or “broker” in your business name because they should be relevant to what you do. The UAE government will issue you a commercial license to buy and sell real estate. To acquire an initial approval, the majority of the registration procedure can be accomplished online. However, your job isn’t finished yet; you’ll need to resubmit your initial papers as well as add a few more to receive final clearance.
- Prepare yourself for the licensing procedure by becoming educated or certified
To acquire initial approval and permission from the Real Estate Regulatory Authority (RERA) in Dubai, you must finish a professional training or course and earn a certificate. To receive clearance from the Dubai Real Estate Regulatory Agency, this is necessary. You must also complete the Real Estate Certified Practitioner training course if you have a college diploma.
If you don’t have a bachelor’s degree, you’ll need to enroll in the Real Estate Executive Diploma program. You can learn more about this qualification by visiting the RERA website.
- Employ back-office support
As an entrepreneur, you must handle all of your tasks like a pro. Keeping track of your expenditures and income is crucial as a startup, and keeping track of your expenses and revenue may help you make smarter decisions. However, certain obligations, such as back-office, real estate accounting, and so on, may burden you at some time. As a result, outsourcing accounting services is preferable than hiring a professional staff in-house, which can be costly.
- Create a real estate office
As a real estate company owner, having your own office will set you apart in the market and help you gain consumers’ trust by demonstrating that you are operating responsibly. Furthermore, the UAE government’s proper licenses and RERA will assist you in identifying yourself as a trustworthy business owner.