The real estate industry is one of the most lucrative economic sectors in Dubai, as great numbers of foreign investors and citizens relocating here for different reasons need to buy or rent real estate to operate as companies, respectively to live in.
Many investors decide to invest in real estate not by opening construction companies which involve a lot of money and more hassle when it comes to the licensing procedures, but by setting up real estate companies through which they can sell or rent properties in Dubai.
If you want to start a real estate business, you should know that you must comply with certain requirements which can be explained by our Dubai company formation agents.
Choosing a type of structure for the real estate company in Dubai
There are several types of business forms that can be employed for setting up a Dubai real estate business. The choice belongs to the future owner and it depends on how large the company will be. The preferred types of structures are:
- the sole proprietorship;
- the limited liability company;
- the civil company;
- the free zone establishment.
Then, the usual company registration steps must be completed to have an up-and-running real estate brokerage company in Dubai. These can be handled by our company incorporation consultants in Dubai.
Special requirements to real estate brokerage businesses in Dubai
The activities which can be performed by a Dubai real estate company are:
- renting properties;
- acting as representatives of owners when selling a property;
- consultancy services;
- property management services.
In order to be able to broker real estate deals, the company or the individual must obtain a certification from the Real Estate Regulatory Authority (RERA) within the Land Department in Dubai. The real estate license is issued based on the attendance of a course following which a real estate agent registration number will be granted.
For individuals obtaining the RERA certificate and being hired by real estate companies in Dubai, a broker’s card will be issued.
If you are interested in setting up a real estate business in the emirate and need assistance, do not hesitate to contact our company registration advisors in Dubai.