Setting Up Dubai Real Estate Business in Dubai

Dubai is a well known city in the entire gulf region that is considered as tourist hub. It is a stunning city that has completed its complete makeover in last 20 years. Currently, Dubai is an excellent combination of old and new structures and buildings. Dubai business is based on Western model and act as main trading center between east and west. Due to these reasons it attracts foreign investors to invest in various business sectors in Dubai in including Dubai real estate. Dubai Real estate sector had been showing remarkable growth and appreciation in international market since 1990’s. Lot of opportunities and relaxing terms and flexible policies are available for those who want to setup Dubai real estate business in Dubai.

Essential Steps to setup Dubai Real Estate Business

In order to make successful setup of Dubai Real Estate Business, you need to follow or consider few primary things. There is a proper procedure or plan that helps you to open a Dubai real estate company.

• Choose Location of a Business
• Decide the type of Business
• Obtaining Registration for your Dubai Real Estate Business
• Apply to get License
• Inaugurate Legal Office

If you are opening a sole proprietorship business, it is good to setup your Dubai real estate business in free zone. Several commercial areas in Dubai are included in free zone areas. It is very beneficial to open up your office in such areas as there are much lesser rule and regulations as compared to other areas in city. The major benefit of this zone is that it gives 100% ownership to owners, while for other areas 51% ownership of property is owned by UAE government. Besides, this business owner doesn’t need to pay any corporate taxes for 50 years as well as no personal income tax, no bureaucratic red tape and import duties. They are also allowed to do business in any currency.

Deciding type of Dubai real estate business is also crucially important for all business owners. There are 7 types of structures available for Dubai real estate business in Dubai. These systems or structures include Sole Proprietorship, Partnership, Corporate Form, Joint Venture, Public shareholding, Private shareholding and limited liability. But if you observe the business market in Dubai you will find that Sole Proprietorship, Partnership and Corporate Forms are very famous in Dubai.

After deciding location and type for your Dubai real estate company it is also very important to get your company registered with Department of Economic Development to obtain a trade name. This is an initial approval after that you will get final approval after submitting various documents and completing other formalities. You will have to resubmit all the initial documents to get final approval. Following this whole process of registration at the end you will obtain an official commercial license that permit you to work as real estate agent and you can officially buy and sell Dubai properties.

Professional License and commercial license are mandatory to start an authorized real estate business that is accredited by Real Estate Regulatory Agency (RERA). You can ask assistance from The Department of Economics to know the exact licensing needs for your business. Furthermore, you also need to complete special training and diploma courses like Real Estate Certified Practitioner's Training Course or Real Estate Executive Diploma Course. In order to know specific real estate license for your business you can refer RERA website.

Once you have completed all these requirements of setting up real estate business for Dubai properties, you can inaugurate your legal office in Dubai. It involves your actual office space with a proper landline phone. You also need to obtain immigration cards from the Ministry of Labor to hire more staff in your real estate company. A RERA Real estate license and commercial license enables you to setup your name among reputable real estate business owners.

Everyone knows that United Arab Emirates is one of the fastest growing economies in world and Dubai is one of the dynamic and highly recognized UAE state. Dubai offers huge number of business opportunities for professionals in various sectors including Dubai Real Estate Business. If you carefully consider and follow rules and regulations you can setup a successful Dubai Real Estate Business in Dubai.