A COMPLETE GUIDE TO START A SUCCESSFUL REAL ESTATE BUSINESS IN DUBAI

Dubai is known for its luxurious skyscrapers, marvelous architecture, and tremendous growth in real estate. For any investor or entrepreneur, it’s a place of dreams. The strategic location, good infrastructure, and advantageous tax policies make Dubai the right place to start up a real estate business.

Here is a comprehensive guide to help you set up a successful real estate business in Dubai. We’ll cover the licenses you need, the cost involved, and a step-by-step process to start your property business in Dubai.

Step-by-Step Process To Start a Real Estate Business in Dubai 

There are multiple stages involved in setting up a real estate business in Dubai. Let’s break each step one by one.

1. Formulate a Business Plan

A strong plan is the foundation for any business. Your goal will be to find your objectives, target market, marketing strategy, financial projections, and overall cost for setting up your real estate business. 

2. Choose a Business Location

Choose a location for your real estate business. You can either operate on the mainland in Dubai or within a free zone. More flexibility is available on the mainland, while free zones offer various tax exemptions.

3. Determine Legal Structure for Your Real Estate Business

Select a suitable business structure for your real estate firm. In Dubai, most businesses decide between a Sole Proprietorship or a Limited Liability Company (LLC). Our legal experts help you choose the right one for your business. 

4. Register a Trade Name

Once you have chosen a legal structure, you need to register a trade name with the Department of Economic Development (DED). Ensure that your trade name is relevant to the business and is under DED’s naming rules.

5. Prepare Required Documents

You will need the following documents for real estate business registration:

• Application form
• Copies of the owner’s and shareholders’ passports
• Copies of shareholders’ visas
• Attested degree certificates of the manager and partners

6. DED Registration

You submit your real estate business under DED for name approval, and so on.

7. RERA Approval & Licenses

Real Estate Business requires a RERA licensed real estate brokerage from the Dubai Government. All documents should be presented as required — our team will handle this for you. 

8. RERA Training

Enroll in RERA’s Certified Training for Real Estate Brokers program offered by the Dubai Real Estate Institute (DREI). You need to pass this course before you are licensed.

9. Open an Office

Any office should be a convenient location for your clients to visit and must follow all the rules.

10. Open a Business Bank Account

You will require an account separate from personal accounts from which you can carry on all business banking. The good news is that we have got you covered with our top-notch services for corporate bank account opening, 

11. Apply for Employee Visas (If Necessary)

If you are hiring international staff, you will need to sponsor employee visas. You would probably need to register both with the Department of Naturalization and Residency, DNRD, and the Ministry of Labor, MOL.

12. Final Approvals

Depending on the business model, you might also need final approval from other regulatory bodies, such as the Dubai Land Department (DLD). 

Also Read: Open Your Travel Agency in Dubai – A Complete Guide

Which  Licenses Do You Require to Start a Real Estate Business in Dubai?

To start a real estate business in Dubai, you need to obtain licenses and permits from the authorities. Here is an overview of the necessary licenses:  

1. Trade License

The first one is the Dubai Trade License. This is issued by the DED and allows any form of commercial business to be conducted in the country. Regardless of whether a business does real estate, for example, it will require a trade license.

2. Real Estate Brokerage License

All real estate companies are mandated to have a Real Estate Brokerage License by the Dubai Land Department. This will enable you to work on transactions involving the sale, purchase, or leasing of a property in the city.

3. RERA Accreditation

You, or your employees as real estate agents, need to go through a compulsorily required training course offered at the Dubai Real Estate Institute (DREI), and upon completion, become RERA accredited for brokerage license purposes.

4. Ejari Registration

This is a must — Ejari registration, for property managers. Ejari aids the administration of Dubai rental agreements through this system of the Dubai Land Department.

What is the cost of opening a real estate business in Dubai?

The general breakdown of the real estate business cost in Dubai is: 

• Registration for a real estate brokerage license is AED 12,900 for LLC.
• RERA charges around AED 5,020 per activity which includes training and certification.

The basic cost to start a real estate business in Dubai would be around AED 21,000. Office space, employee salaries, marketing, and other operational costs will add to the above amount. It would be really helpful to consult our business setup experts to get an exact breakdown of the costs involved.

Why Investing in a Property Business in Dubai Is a Great Idea?

Starting a property business in Dubai has multiple advantages. Some of the best reasons why investors and business entrepreneurs choose to invest their capital in Dubai real estate include the following:

1. Demanding Market 

It is a rapidly growing market for real estate. Sooner rather than later, opportunities become increasingly available for the real estate businesses.

2. Great Location

Dubai is placed between Europe, Asia, and Africa, making it a global hub. The location makes it easy for real estate businesses to reach an international client base.

3. World-Class Infrastructure

The transportation, communication, and utilities in Dubai are world-class, supporting the real estate sector. Thus, making it easier for businesses to operate.

4. Stable Economy

With a diversified economy and a government focus on stability, the real estate market in Dubai remains an attractive investment.

5. Ease of Doing Business

The Dubai government made doing business easier by streamlining the process of how to set up a business, hence easily and efficiently establishing and growing entrepreneurship.

If you are ready to start your journey in the real estate business in Dubai, DXB-VIP experts will guide you through each step, ensuring you are always compliant and everything is set up properly. Contact our team today to begin your journey toward opening your real estate business in Dubai!