The commercial centre of the United Arab Emirates is known as Dubai. Investors are flocking to Dubai to invest in the economy as a result of the new proposal to grant “Golden Visas” for five to 10 years. People are swarming to Dubai in order to succeed in its expanding economy.
The country’s real estate market has a reputation for having high rental yields. The predicted increase in rental yields to 5% is far higher than those of prominent and extremely prosperous cities like New York and London. Talk to us for
or Dubai Mainland company Setup
The following are the main advantages of launching a real estate company in Dubai:
- This prosperous and stable economy has a steady and predictable money flow.
- Dubai delivers enormous diversity, tax breaks, and excellent profits.
- Dubai is thriving, particularly in the real estate industry. The current period would be great for investing in Dubai’s real estate market.
Steps on How to Begin a Real Estate Business in Dubai
Are you prepared to enter Dubai’s Real Estate Market? These are the key points:
Like in every other nation, one must first register before considering launching a real estate firm in Dubai:
Choosing the organisational structure for the firm you’re about to launch is the first step in launching a real estate venture. There are five different types of business structures available:
- Sole proprietorship: This business form only allows for one manager and has no minimum requirements for startup capital.
- Limited Liability Company: Under this structure, an owner’s (or shareholder’s) liability is restricted to the shares he personally owns.
- Civil Firm: Professionals from all countries can own a civil company. However, if there are no UAE citizens on board, a local service agent should be appointed.
- Partnership: In a partnership business structure, UAE nationals should serve as general partners while non-resident aliens may serve as limited partners.
The next step is to choose where to set up shop. Entrepreneurs can choose between the mainland and the free zones. You can conduct direct business with the UAE market and participate in government contract bidding if you want to establish your office on the mainland.
The best place to launch a real estate company is in a free zone. The free zone areas offer benefits including a 0% tax rate, freedom from customs taxes, no currency limitations, and many more. A company operating in a free zone is unable to conduct direct commerce with the UAE market.
Future changes are inevitable to the restriction on trading with the UAE. The location of your firm is a highly important decision because it will affect your future business opportunities.
You now need to decide on a name for your business. When it comes to corporate naming, the UAE has quite rigors regulations.
You can fix this problem by seeking the advice of a professional. There shouldn’t be any vulgar names or acronyms in the name. Additionally, it shouldn’t be called after any well-known international organisations, and refraining from abbreviating one’s own name is not particularly well received. By submitting an application to the Department of Economic Development in Dubai, the name must be registered.
4. The next step is to give the documents preliminary approval. To receive the final approval, they must be resubmitted with any additional papers after they have been evaluated.
One must pass a test administered by the Real Estate Regulatory Agency in order to obtain a real estate licence (RERA). You can begin trading after passing. Depending on whether you live on the mainland or in a free zone, the DED should receive your application for a real estate licence.
The price of starting a real estate company in Dubai
In Dubai, starting a real estate business typically doesn’t come at a hefty expense. The price to launch a real estate company varies depending on the location, size, and complexity of the business structure, among other things. Typically, free zones are less expensive than the mainland.
The process is a little more tacky if you want to be a property developer in Dubai than it is elsewhere.
Despite the fact that the process appears to be simpler, it is always advisable to seek guidance from organisations that have dealt with similar situations in the past. They will be able to provide you with great guidance quickly. Get assistance for company registration in dubai