The real estate market in Dubai has been growing quickly for a long time. And in 2022, there will be new rules that will make it easier for more foreign investors to buy property in the emirate. This means that people are asking more than ever before about real estate in Dubai. This is a great time to start a real estate business.

If you want to start a real estate business in Dubai in 2022, read our blog to learn about:

Benefits of starting a real estate business in Dubai

Dubai’s real estate industry has grown consistently for many years and is one of the most attractive property markets in the world. Some of the key benefits of starting a real estate business in Dubai include:

Impressive returns: The Dubai property market continues to generate significant returns for investors, with yields of 5% annually or more being common.

Diverse market: Dubai’s property market is large and diverse with buildings in many different sectors including residential, commercial, student accommodation, luxury property, hotels, and industrial units to invest in.

Transparent regulations: Dubai has a well-respected and transparent legal system which means you can be confident in your investments.

An open market: Dubai’s property market is highly competitive and open for anyone to invest in, including foreign investors.

High potential capital gains and rental yield: With its educated, skilled and professional population, you can be confident that rental or sale properties will be in high demand.

How to get a RERA licence

If you want to be a real estate agent in Dubai, you have to go through certified training for professionals in the field. Usually, the training takes four days and teaches you everything you need to know to legally work as a real estate agent in Dubai. After you finish a training course, the Real Estate Regulatory Agency (RERA) in Dubai will give you a test. If you pass the test, you can apply for a licence to be an agent.

RERA licence cost

The price of an RERA licence depends on how much you already know. If you have a bachelor’s degree, it will cost you AED 3,200 to take the test. It costs AED 6,300 if you don’t have a bachelor’s degree.

You will also have to pay for an RERA training course, which you will need to do in addition to paying for the exam. Most of the time, these cost between 2,500 and 3,500 AED.

Steps to start a real estate business in Dubai

The Department for Economic Development (DED) in Dubai has a long list of things you need to do to start a real estate business there. When you work with Black Swan, we can help you with the six important steps below:

Step 1: Select a trading name

When you choose a name for your business, it should describe what you do best.

There are also strict rules about the language and words that can be used in business names in the UAE. You can’t use words that are hurtful or mean, or words that are against religion.

Step 2: Decide on a jurisdiction

In Dubai, real estate companies can set up shop on the mainland, in a free zone, or in an offshore location. Each of these has its own rules for doing business and its own pros and cons. When choosing your jurisdiction, you need to think about the type of business you run, how easy it is to reach your market, and where your office is. At Black Swan we can help you figure out which jurisdiction is best for you.

Step 3: Legal structure

You will also have to choose the legal structure of your business. Different structures are better for some types of businesses than others. Some of the most common ways for real estate companies in Dubai to set up their legal structures are:

• Sole establishment
• Limited liability company (LLC)
• Free zone company
• Foreign company branch

Step 4: Submit your documentation

When you apply to start a real estate business in Dubai, you must provide a number of documents that vary based on your business’s structure and location. At Black Swan, we can tell you what documents you need and make sure they are all correct:

• The application form of registration from DED
• A copy of your passport
• Your Emirates ID copy
• Your certified tenancy contract of the office space
• RERA licence

Step 5: Approval process for special activities

If your real estate company needs to do something special, like building a apartments or any building , you may need permission from other relevant authorities. Black Swan can give you more information.

Step 6: Process your visa

If you or your employees are not from Dubai, you may need to apply for visas for your employees and their families at the same time you apply for your own visa. Here’s what will happen:

• Getting an entry permit
• Changing your status
• Taking a medical exam
• Getting your Emirates ID

Cost of starting a real estate business in Dubai

In Dubai, it costs between AED 15,000 and AED 25,000 to start a real estate business (in addition to your RERA licence). Costs will depend on a number of things, such as where you live, how much it will cost to open an office, and whether you want to run your business from a Dubai free zone, a company on the mainland, or an offshore company. In general, the costs of starting a business in a Dubai free zone are lower.

How to grow your real estate business in Dubai

Here are five things you can do to grow your Dubai real estate business:

1. Make a business plan that makes sense: A business plan helps you figure out what kind of real estate you want to focus on, how much you want to charge, how much cash flow you need, and what your goals are.
2. Consistent marketing: Your business needs to do a number of important marketing tasks on a regular basis, such as keeping online listings up to date, using social media to promote your properties, and holding promotional events.
3. Do your research. Find out what your competitors are doing, what the latest property trends and tastes are, and what the biggest developers in Dubai are working on right now.
4. Use modern technology. You need a website, to learn how to use customer relationship management (CRM) software, and to invest in technologies like virtual reality tours or drones to make your marketing more interesting.
5. Take care of your leads. Spend time getting to know your prospects so you can find out what they really want and keep in touch with them.

Working with Black Swan

Since years, Black Swan has helped more than thousands of companies get business licences in Dubai and other places. We have helped a lot of real estate agents, investors, property developers, and other professionals who work in the real estate industry set up their businesses in Dubai. Our experts know everything you need to know, like how to get an RERA licence, and can tell you what steps you need to take to start your Dubai real estate company.

We can also help you with a number of other services that will help your Dubai real estate business do even better.

• Dedicated business setup manager
• Tax preparation
• Trademark Registration
• Legal advice
• PRO Service
• Office Space
• HR management
• Visa Service
• Opportunities for business networking

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