How to Open a Real Estate Brokerage Company in Dubai
Dubai is a city with exceptional or high demand for real estate company in Dubai. Indeed, you have guessed it right! Starting a real estate company at this emirate can be a source of countless opportunities for real estate brokers.
Dubai has emerged itself among the top regions of the world in order to foreign investment due to its top-notch infrastructure, trading opportunities, and more. The real estate market of Dubai also has the capability to generate one of the highest returns as compared to other popular regions around the globe.
Suppose you are curious about opening your real estate brokerage company in Dubai and do not know some thing about how you can open your actual property business enterprise. In that case, you have to examine this newsletter. In this article, we’re going to speak about the whole thing that you need to recognise to start your real estate company.
So, with none further delay in starting our manual, allow us to get began.
Top benefits that you can get by starting your real estate company in Dubai
But earlier than diving down the stairs to start your real estate brokerage company in Dubai., we should introduce you to the benefits that you could get by using beginning your actual property brokerage agency in Dubai. Let us take a look at the top advantages that you could get via beginning your real property enterprise in Dubai:
- Easy begin-up to your real property enterprise: By beginning your real property enterprise in Dubai, you can have the capability to gain from a smooth procedure of registration with get right of entry to priority government relations and great support services that might be tailored to address the wishes of your business.
- No property tax: There is no tax for property in Dubai. This means that once you have purchased the property tax and have paid the fees of registration to the Dubai Land Department, there are no other taxes of government that are to be paid against your property at all. This no-tax policy of this emirate attracts numerous investors and real estate agents to start their businesses in this emirate.
- High rental return: The rental return in this emirate is not less than 5.82 percent. This high return makes this city one of the best places around the world for the investors of the property. You should always keep the high rental rate in your mind because it will help you to generate high income as an owner of a real estate brokerage company in Dubai.
The list of benefits that you can get does not end here. You can get access to unlimited benefits by starting your real estate brokerage company in Dubai, which is literally hard to highlight in a single article.
Step-by-step guide to opening a real estate brokerage company in Dubai
Indeed, the process of starting a real estate company in Dubai is relatively easy because of the supportive environment of Dubai. However, it is crucial to follow the right road in order to achieve success in creating your real estate enterprise in this emirate. Let us have a look to the steps that you must follow in order to open a real estate brokerage company in Dubai:
➤Choosing legal structure
Prior to starting your brokerage company in Dubai, it is too vital to select an appropriate legal structure for your company. Choosing the legal structure will help you to position your company or business in the most beneficial operational and financial position.
In order to conduct real estate brokerage company in Dubai, there are mainly 2 types of business structures that might be registered:
- Limited Liability Company (LLC)
- Sole proprietorship
Consult Flying Colour to get assistance in choosing the appropriate business structure for your business.
➤Choosing Company Name
Company name, which is also known as Trade name, is the name of your company. Choosing a company name is crucial for every type of company. This is the first and official step that you take toward the formation of your real estate company in Dubai.
➤Getting RERA Certification
Getting the certificate of RERA is crucial to starting a brokerage company in Dubai. In order to get RERA certification, you should register for the DREI training program. After completing the course, you must pass an exam and get a Good Conduct Certificate from Dubai police.
After getting the certificate, you must contact RERA to get your broker ID. Broker ID will allow you to start your career as a real estate agent. Remember, you must renew the license annually.
➤Memorandum of Association
A completed and signed MoA of the real estate business is crucial, depending on the legal structure of the business. After getting the MoA, the court will notarize and legalize this document.
➤Applying for Trade License
Once you have followed the initial stage process for setting up your brokerage company in Dubai, you will have the ability to apply for your trade license. The license is required to run a property management business or real estate business in Dubai.
You must also register your real estate company in the Department of Naturalization and Residency Dubai (DNRD) and the Ministry of Labour (MOL) to employ foreign employees and sponsor their visas.
➤Getting Approval from the Dubai Land Department
Dubai Land Department is the government agency responsible for real estate activities in Dubai and other emirates of the UAE. Before operating your brokerage company in Dubai, you must obtain approval from the Dubai Land Department (DLD).
How can Flying Colours help you to start your real estate brokerage company in Dubai?
As mentioned above, there are numerous steps that must be followed to start your real estate agency in Dubai. Some of these steps might be complex to follow for an individual who is not from Dubai. The Flying Colour comes with the ability to provide valuable assistance in starting your real estate company in the company. Furthermore, our company has experience that can make the entire setup process more straightforward.
To learn more about Open a Real Estate Brokerage Company in Dubai, book a free consultation with one of Flyingcolour team advisors, call +971 50 5585305 or send WhatsApp messages to +971 4 4542366. you can also drop an email to info (at) flyingcolour (dot) com.
*Please note that this article has been published on 23/11/2023 in accordance with the federal policies and updates at the time of writing. For the latest info please talk to our consultant.
