The market has slowed since the past two years, but Dubai real estate still generates impressive returns. Excess 6% of yields makes Dubai’s property market to be more lucrative than prestigious cities.

For instance, London gives an average yield of 4.4% when New York returns 4%. These returns make Dubai real estate attractive for investors all around the world. If there’s a thriving investment market, there is a demand for related services like property management, brokerage and development.

With the right support, these businesses are affordable and straightforward. Here you learn how to start your real estate company in Dubai.

Are you getting ready to start a real estate business in Dubai?

Either you wish to start a property management company, the real estate brokerage business, or become a developer, there are few steps to consider if applying for a license.

You have to outline your business activity. It determines the kind of service you’re permitted to provide. For instance, if listing a real estate brokerage as the activity then you can rent proof act like a representative for the seller of a property, manage property on behalf of owners and consult on property sales.

Several property related business activities can be chosen from. It can be vital that the chosen activity aligns with the activities you like to carry out. You can work with a company formation expert at this stage.

Choosing The Company Name

UAE has strict rules while choosing the name for your company. You have to follow a set of naming conventions. A professional in company formation can help you with it.

Avoid using offensive languages. Plus avoid names of known organizations, and abbreviations. For instance, use Dave Mann Consulting besides D Mann Consulting. You can check if your chosen name can be registered

You have to establish your business in the mainland or free zone before making the license application.

Free Zones like Fujairah Creative City have benefits like easy incorporation process, financial incentives, ongoing business support like zero currency restrictions and tax exemptions.

Mainland can permit you to trade directly with the UAE market and has lucrative government contracts.

The setup must be suitable for the nature of your business. A company formation expert will advise the best approach.

Real Estate License Application

The setup type, activities and name can make the license applicant start the real estate business in Dubai. For property management services and brokerages, you have to apply for the professional services license.

Apply directly to the DED or to one of the UAE’S free zones. The free zones are cost-effective and straightforward to start the real estate company as well give benefits like zero percent corporate and personal income tax, and 100% tax exemptions.

The United Arab Emirates has free zone businesses to repatriate the invested profits and capitals. They have no currency restrictions or foreign exchange controls.

You need extra accreditation to operate in the United Arab Emirates real estate industry. Pass the Certified Training of Real Estate Brokers course to get approval from the real estate market. Once you take the course from the Real Estate Regulatory Authority and pass, you can be issued with the permit to start trading.

Prior knowledge is required to start a business in the UAE. Note down the application process to submit them error free.

It’s best to work with the company formation specialist if establishing a new company in the UAE. They can guide you for opening a corporate bank account, handle your license application and find the suitable financial institution to match your specific needs.

They provide visa and immigration services, handle work permits, visas and government formalities that are needed to trade in the UAE.