How to Open A Real Estate Brokerage in Dubai? Well, in the UAE setting up a real estate company is very easy and can be accomplished with very little cost. For example in Dubai, you can start an LLC (Limited Liability Company) and still remain 100% foreign-owned without even setting foot in the country. In most cases, all that is required is a notarized copy of your passport, bank statement, and visa (for partners). You will also see a lot of information about Free Zones but if you don’t plan on conducting export-related activities, you won’t need to get involved with them. The main challenge of course is actually generating leads and closing deals – this takes time and money which would get wasted otherwise. With us, however, we offer company setup assistance so you can just focus on getting clients. And we will give you all the necessary information that need to know before setup a real estate business in Dubai.
Why Real Estate Brokerage in Dubai?
Real Estate Brokerage in Dubai is a property market that has been growing significantly, especially over the past few years. It has become one of the most popular destinations for people who want to live and work in Dubai.
As a result, the demand for real estate broker services has also increased significantly. In fact, there are only a few brokers who can provide you with the best services and help you find the right property at an affordable price. Real estate brokerages in Dubai are usually small companies or individuals who have been working in this field for years. They know all about properties and they can help you find what you need at an affordable price. They will also offer advice on how much you should pay for your house or apartment based on its condition and location.
Real estate agents may not be licensed by government authorities, but real estate brokers are always licensed by local authorities such as the Dubai Land Department (DLD), Emirates Real Estate Association (ERA), and Realtors Association of Dubai (RAD). Brokers are also members of their respective associations which ensures that they follow ethical practices while conducting business transactions with clients.
There are many advantages to having your own real estate brokerage business, but there are also some disadvantages. The main advantage is that you get to keep all the money you earn from your business and not have to share it with anyone else who may be involved in the transaction. The main disadvantage of being self-employed is that you will have to take care of all aspects of running your business, including marketing, accounting, and administrative duties such as writing contracts, making payments, and keeping track of expenses.
The legal process to start a real Estate Brokerage in Dubai :
The legal process to start a real estate brokerage in Dubai is not very different from any other business. In fact, it is the same as starting any other business in Dubai. The only difference is that there are certain registration guidelines that must be followed.
1. Name approval and trademark registration:
The first step is to register your business name with the Department of Economic Development (DED). It’s important to ensure that your business name isn’t already registered by someone else, so you should make sure you’ve got the right one before you commit to it. You can also protect your brand with a trademark or service mark registration, which will give you exclusive use of the name within your industry.
2. Initial Approval:
Once you’ve registered your business name and chosen a suitable location for your office, it’s time to apply for an initial license from DED. This is an important step because it gives you permission to operate as a dealership in Dubai and allows you to apply for more licenses later on down the track if required.
3. Apply for a License
Once you have received approval for your new business name, you need to submit an initial application for approval of your business license or trade license certificate. You need to deposit the required fees and submit all necessary documents along with the application form at the DLD office. Once you have applied for a license, you will receive an acknowledgment letter from DLD mentioning the date they received your application form along with other details like who signed it on behalf of the applicant, etc. And also you need to get approval from Real Estate Regulatory Agency RERA.
4. Document Submission:
The legal process starts with submitting an application form along with all required documents like Articles of Association (AOA), Memorandum of Association (MOA), power of attorney, Local Sponsor agreement, etc. And also need to do an attestation notary if required.
5. Get a License:
Once everything is approved by DED and DLD, you will get your license within five working days after submitting all necessary documents to the Dubai government.
The cost of opening a real estate brokerage in Dubai is involved in the above business process and more over the main factor is the business legal entity and its activity and the location in which you choose to operate your business. You need to pay a fee for business name registration, approval, legal document attestation fee, License Fee, etc…
What are the activities involved in real estate brokerage in Dubai:
Sales activities – This involves marketing and selling properties to potential buyers. It may also involve marketing rental properties for tenants, or even selling land parcels.
Property management – This involves taking care of the property once it has been sold or rented out. This includes collecting rent and ensuring that tenants do not damage the property while they are living there.
Property valuation – Valuation is done by a professional appraiser who determines the value of a property based on its condition, location, size, and other factors such as current market trends.
Rental management – This may involve finding tenants for your properties or managing them yourself if you are renting out your own home or office space.
Leasing – Leasing involves renting out commercial spaces such as offices and factories at an agreed price over a specified period of time.
How we can help you?
We are one of the leading companies in Dubai that provides all types of business set-up services. Our team is well experienced and has helped many clients to start their businesses in Dubai. The team always works hard to provide the best solutions for your needs. We have helped many entrepreneurs to register their Real estate companies in Dubai and get all necessary approvals from government authorities.Our services include Company registration & formation, Opening bank account,Company formation documents,Tax registration & compliance.