Starting a Real Estate Business in Dubai [2023 Guide]

Can business experts help set up a real estate business in Dubai? What are the prerequisites to follow to build an extensive business in Dubai? A new venture in the United Arab Emirates is lucrative and rewarding. Business setup with experts can be time-saving, hassle-free, and simple. But it is essential to understand the prevailing market conditions to help plan the right business strategy. 

Setup Your Real Estate Business in Dubai

It offers steady cash flow with tax benefits and high returns in a quick time. Steps to cover in a real estate business are trademark registration, opening a business bank account, and others. An expert consultant can help you through an easy business setup process and help you earn from your dream business in the UAE. The Dubai business market has plenty to offer, like the ease of getting an investor visa, tax exemptions, business-friendly policies, and others.  

How can Real Estate Business be Beneficial in Dubai?

Government declares ownership incentive that makes Dubai an attractive business destination for individuals, tourists, and the real estate sector. It also attracts foreign investors from everywhere, including Russia, to invest in the Dubai market. 

Soon after investing, one can realise the rewarding opportunities businesses offer in Dubai. It boasts a diverse economy, including trade, tourism, the financial sector, and others, to drive demand for the real estate market. This is how the sector attracts investors, resulting in massive growth over the years. 

What is the Need for a Business License in Dubai?

Any individual or company requires a real estate license in Dubai to engage in real estate activities like buying, selling, managing, or proper leasing. The Dubai Land Department issues the license and helps regulate the real estate business in the UAE. Register for the license and follow a few steps to get it before setting up the business. Apart from getting a license, registering with Dubai Real Estate Institute or DRIE is essential, mainly to work as an agent or broker. 

Steps to Register for License in Dubai 

• Choosing Business Activities

Outline business activities and get help from a property investment company to know whether to manage a portfolio for others or purchase it through your company. It helps understand the type of business and license required. This is how experts can guide you to acquire the right real estate license in Dubai. 

• Register a Company Name 

Now, choose and register a unique company name from any existing business company in the UAE. The name should be free from any offensive language or religious connotations. 

• Get an Investment License 

After making the administrative decisions, apply for the license. It allows you to buy and hold real estate property in UAE. The process to acquire the license in UAE will differ as per whether you set it up in the free zone or mainland. A mainland business requires additional permits for ease of trading. 

• Get UAE Visas 

A company owner or investor in the UAE is eligible to apply for an investor visaor residency visa. This helps sponsor your family and employees for the visa facility in the UAE. Getting a visa is a long process. 

You need to get an entry permit, pass a medical examination, submit ID registration, and get a suitable visa stamp for immigration. This is again where an expert team can guide you better, not to miss any steps, and get the visa timely. 

• Open a Bank Account 

Make business deals and payments in the UAE through a corporate bank account. There are both international and local banks in Dubai, and the business experts can guide you to open an account with the right bank. 

Keep Up With the Latest Business Trends 

Dubai’s real estate market is ever-growing and competitive. To sustain in the market with prominence, a business should know the trends and stay ahead of the rest. The property laws and changes in the real estate market can help you plan for the best business strategies. 

Also, note what competitors are offering, as the market is constantly changing. It helps you know what to offer your buyers. 

Cost of Real Estate Business in Dubai

The cost of opening a business in UAE depends on the emirates and jurisdiction. Factors like business activities, location, and company size also determine the cost. 

• The cost of starting a real estate business in Dubai is AED 21000 
• The RERA charges are AED 5200 for every activity 
• The RERA course fee is AED 6300 for a non-bachelor applicant and AED 2500 to 3200 for a bachelor’s degree candidate. 
• One without any qualification has to pay AED 15750 
• The brokerage license for business following LLC structure is AED 12950 

Comprehend from a Client’s Perspective 

Getting quick commission is lucrative in the real estate business. Someone starting the business may wish to earn large cash from the business. But one should follow the right strategy to earn profit from the business. The real estate business goal should align with what real estate buyers expect. Business Setup Dubai assistants can guide you better with its professionalism. From creating a concept to executing it, specialists have the best knowledge to help business owners survive in the UAE market.