Setting Up a Real Estate Company in Dubai

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Real Estate Company

Dubai is the land of opportunities and business growth. The residents have a lavish lifestyle, the government is always striving to make things better, and investors enjoy massive returns on their investments in the UAE. Global phenomenons like the Burj Khalifa and Burj Al Arab have set real estate standards pretty high in Dubai. Therefore, Dubai is the perfect land for budding business aspirants who want to set up their real estate business.

It’s among the most lucrative business industries in Emirates, and many high-profile celebrities, along with multinational companies invest in Dubai’s real estate. You need to have adequate knowledge of how the industry works for setting up a real estate agency in the UAE. Business experts help you with location, documentation, and several other requirements for the seamless establishment of your business.

Steps to Form a Real Estate Company in Dubai

You need to comply with all the legal procedures, finalize the location, submit the required documents, etc., to acquire the desired business license. Here are the steps you need to follow:

1. Decide the Business Activities

The business model of your company depends on the day-to-day activities of your company. Several activities require special approvals and certificates, and you need to list them down and submit them to the concerned authorities. If you want to have 100% ownership of your business, you should prefer a free zone establishment. You can also go for an LLC formation if you wish to launch your company in the mainland.

2. Trade Name Reservation

Another critical step in setting up a real estate company in the UAE is reserving a trading name for your company. Trade names having terms like “real estate,” “broker,” etc., is advised as it improves your company’s relevance in the sector. Furthermore, it’s mandatory to adhere to the norms of trade name reservation in the UAE. Refrain from using controversial names, terms that hurt people’s religious sentiments, etc.

3. Finalize the Location

A lot depends on the operational location of your real estate company. The exposure to different markets, resource availability, infrastructure, taxation laws, etc., all change from one location to another. Business consultants in Dubai make this choice easier for you by summarizing the pros and cons of all the locations suitable to start a real estate agency. You can rent an office space in your preferred region after acquiring the eljari or tenancy contract.

4. Draft the MoA and LSA

If you’re setting up a real estate agency in the mainland, you need to partner with a reliable local sponsor and sign the LSA (Local Sponsor Agreement). The agent would have 51% of the firm’s ownership. You can collaborate with Shuraa, and we’ll become your sleeping partner so you can enjoy 100% operational ownership of your real estate business. Depending on the structure and model of your company, you need to sign and draft the MoA (Memorandum of Association).

5. Obtain the License

To legalize your company in Dubai, it’s imperative to acquire a business license. You can apply for a real estate trading license to legitimize your business entity and get the approval to carry out the operational activities. Mainland establishments need to apply to the DED, while free zone companies can apply to their respective authorities for obtaining the license. Moreover, you need to register with RERA (Real Estate Regulatory Agency) once you get the real estate trading license.

6. Open a Corporate Bank Account

Once you’re done with all the documentation and paperwork legalities, you need to open a corporate bank account for your real estate firm. Choose a bank that best suits your business needs and offers special benefits and relaxations that’ll help in cost optimization.

Benefits of Setting Up Real Estate Business

The real estate business in Dubai soars high because of several advantages that the UAE government offers to the investors and entrepreneurs. Some of these benefits include:

1. Low Taxation Policies

Businessmen don’t have to worry about corporate and income taxes on the profits they earn from their business. The lenient taxation policies ensure that you make the most of your investment without having to pay hefty taxes. The VAT rates in Dubai also ranks among the lowest in the world.

2. Investment Security

All laws maintained by the DED, RERA, and DLD are fair, indiscriminate, and supportive towards the new-age investors. Furthermore, there aren’t any hidden costs and surcharges, so you can confidently set up your real estate company in Emirates. Apart from the benevolent jurisdiction, Dubai has a zero crime rate, and the country is full of peace and tranquility.

3. Population Growth

Dubai is a hotspot for real estate business because of the growing population and a rapidly evolving economy. Foreign investors continue to find a home for their business in the UAE and would also require accommodation facilities. Therefore, your real estate business would never run out of clients.

4. Hassle-Free Visa Management

You can obtain visas for your shareholders, employees, family members, etc., by filing your application to the concerned department. A few mandatory visas are granted along with your business license. For more visas, the laws are clearly defined, and you just have to follow the legal process.

Documents Required to Open Such a Company in Dubai

Setting up a real estate agency involves the submission of several documents. Ensure that you fill all the forms carefully, submit the documents when asked, and comply with all the legal procedures for the hassle-free formation of your real estate company.

Here’s a summarized list of documents required for opening your company in the UAE:

  • Passport size photographs of the applicant
  • Duly filled application form
  • Copies of passport (owner and all shareholders)
  • In case of an LLC formation, a copy of the local sponsor’s Emirates ID
  • Notarized MoA and LSA documents 
  • Tourist visa of the applicant 
  • Eljari number (tenancy contract) specifying the rental space agreement
  • Approval from Dubai Land Department

Consult With Shuraa

Real estate business in Dubai is on the rise, and your decision of setting up a real estate company is the right one. At Shuraa Business Setup, we help you find the perfect location for starting your brokerage venture and assist in the associated paperwork too. Our team of legal investors and business consultants have already helped more than 25,000 companies prosper in the Dubai marketplace. Get in touch with us today, and we’ll take care of the rest, keeping your budget at the forefront.

Connect with Shuraa today by calling us on +971 44081900. For chat assistance, send a WhatsApp message on +971 50 777 5554. You can also write to us at info@Shuraa.com.

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