Starting a Real Estate Business in Dubai
By Space Coast Daily // August 22, 2022
Although the real estate market has experienced a downturn in recent years, the market in Dubai is not slowing down. The return on investment in Dubai real estate properties consistently tops 6%. In comparison, London only returns around 4.5%, and New York, the busiest city globally, commands a 4% yield.
Dubai’s prime real estate market has made the region attractive to different financial investors worldwide. Thousands of real estate investors are flocking in, looking for Dubai escorts to make their stay in the United Arab Emirates worthwhile. In essence, as the Dubai real estate market grows, there’s an increase in derived demand for its associated services, including brokerage and property management.
This article will enlighten you on how to tap into the Dubai real estate business.
Steps to Venturing into Real Estate in Dubai
■ Choose a Firm Name
If you’re selecting a name for your company, it should best describe what your firm is into. For instance, placing the keyword ‘Real Estate’ in your name would do you a lot of good.
You must note that the UAE is strict about choosing a business name. You cannot name your business with any term considered offensive or profane.
In other words, you can start your home remodeling company with real estate financing from DimeBucks.
■ Choose a Jurisdiction
You can go with any of three key jurisdictions in Dubai: mainland, free zone, and offshore. Each of these jurisdictions is accompanied by its particular restrictions and benefits. Before choosing a jurisdiction, you need to consider your business’s services.
If you’re unsure about the jurisdiction to go with, you can consult with other real estate firms.
■ Choose a Legal Structure
You need to select the legal structure of your real estate business. The most common structure for real estate companies in Dubai includes sole proprietorship, free zone company, LLC, and foreign company branch.
■ Tender Your Documents
When you’ve applied for your real estate firm, you need to tender crucial documents to hasten the process. The documents to be submitted depend on the legal structure of your new firm.
The documents required by law include a duplicate of your passport, RERA license, a copy of your Emirates ID, and your application form from the Dubai Department for Economic Development (DED).
Conclusion
Suppose you want to start up a real estate business in Dubai. In that case, you must choose a firm name, a jurisdiction, a legal structure, and tender crucial documents.
