How To Setup Real Estate Business In Dubai
Dubai, the commercial capital of the United Arab Emirates, is luring investors to its flourishing economy, especially in the real estate sector. There are numerous advantages to setup a real estate business in Dubai, including a stable and prosperous economy, outstanding returns, tax breaks, and diversification opportunities. If you are interested in setup a real estate company in Dubai, the following steps are essential.
- Organizational Structure: Choose from the sole proprietorship, one-person limited liability company, civil company, partnership, or joint venture business structures. Each structure has unique requirements.
- Mainland or Free zone: Businesses on the mainland are permitted to trade directly with the UAE market and to compete for government contracts. Free zones offer advantages such as zero percent tax, exemption from customs duties, and no currency restrictions. However, free zone enterprises cannot trade directly with the UAE market.
- Choose a name: Ensure compliance with naming regulations and register the company name with the Dubai Department of Economic Development.
- Acquire Initial and Final Approvals: Prepare and submit the essential preliminary approval documents. These documents will be evaluated, and any additional specifications must be met. Applicant should pass a test by the Real Estate Regulatory Agency (RERA) to obtain a real estate license. Then submit your application for a real estate license to the relevant authority based on your desired location.
These are the points to remember when starting a real estate company in Dubai.
To know more visit official website of Dubai Government.