Establishing a real estate company in Dubai

Establishing a real estate company in Dubai represents an exciting and attractive opportunity for investors, given the growing demand for real estate in this vibrant economic centre. Dubai is characterized by a dynamic real estate market that witnesses a great diversity of offers, whether for housing or investment, making it one of the most attractive destinations for real estate investors.

When setting up a real estate company in Dubai, investors can benefit from a wide range of opportunities, including building residential and commercial complexes, hotels and public facilities. In addition, real estate companies can provide property management, real estate marketing, and real estate consulting services, which adds another layer of diversity and investment opportunities.

Over time, Dubai maintains its attractiveness to real estate investors through the development of pioneering real estate projects and infrastructure development, which makes it an ideal place for investors seeking to achieve good returns on their real estate investments.

How to create a real estate company in Dubai

To set up a real estate company in Dubai, it requires following a number of formal and legal steps. Here are the basic steps you can follow:

• Market study: Before starting any business activity, it is necessary to study the real estate market in Dubai and understand the trends and opportunities available. You can obtain data and statistics from the Dubai Real Estate Regulatory Authority (RERA) and from local real estate agencies.
• Choosing a legal form: You must choose a legal form for the company. You can create a sole proprietorship, limited partnership or joint stock company. It is recommended that you consult with local legal counsel to help you make the appropriate decision.
• Choosing a business name: You should choose a unique and appropriate name for your real estate company. The name must be in accordance with the laws of the Ministry of Economy in the United Arab Emirates. You may need to apply for approval of your chosen name.
• Preparing documents: You must prepare a set of documents required for registration. These documents include a copy of the passport of shareholders and directors, the lease contract for the company office, the owner’s consent to use the office for business purposes, and other required financial and legal documents.
• Company Registration: After collecting all the required documents, you must submit a registration application to the Dubai Economic Development Department (DED). You will need to pay the required fees and submit documentation based on DED requirements.
• Obtaining licenses: After registering the company, you will need to obtain the necessary licenses to practice real estate brokerage activity in Dubai. You must apply for a real estate agency license from RERA and meet all its requirements.
• Establishing an office: You must establish an office for your real estate company in a suitable location. The office should preferably be in a central business district. You may also need to rent the office and equip it with the necessary furniture and fixtures.
• Hiring Employees: You may need to hire employees to help you run your real estate company. Important jobs can include real estate marketing agents, sales executives, and real estate managers. Be sure to check visa and work requirements for foreign employees.
• Marketing and Promotion: Develop an effective marketing plan to promote your real estate company and the services it provides. You can use social media, advertising, and local networking to attract customers and increase your brand awareness.
• Compliance with Laws and Regulations: Ensure compliance with all laws and regulations related to real estate brokerage in Dubai. Collaborate with RERA and adhere to the highest standards of ethics and transparency in your business.

Fees for setting up a real estate company in Dubai

Fees for setting up a company in Dubai consist of several aspects that require a variable cost according to several factors, including:

• Company establishment fees: These fees include the costs of registration and licenses necessary to establish the company in Dubai. These fees may vary based on the type and structure of the company.
• Virtual Office Fees: If a company needs a physical office or work space, you may need to pay additional fees to rent an office or work space in Dubai. Some companies choose to start with a virtual office to save costs in the initial stage.
• Legal and accounting consulting fees: You may need to obtain legal and accounting consulting services to help set up and operate the company, and these services usually come with additional costs.
• Annual Registration and Licensing Fees: Once a company is established, there may be annual registration and licensing fees that you need to pay to keep the company legitimate and running.
• Additional services fees: These fees can include advertising, marketing, insurance, and any additional services the company may need for the success of its business.

Documents for establishing a real estate company in Dubai

To set up a real estate company in Dubai, you usually need to submit a set of required papers and documents. It is worth noting that requirements can vary slightly depending on the type of company and its structure, but there is a general list of documents that you may need. Here are some of these documents:

• License application form: The license application form for the real estate company must be filled out and submitted to the competent authorities in Dubai.
• Copy of passport for shareholders and directors: A copy of the passports of all shareholders and directors concerned of the company must be provided.
• No Objection Certificate: You may need a No Objection Certificate from shareholders to set up the company in Dubai.
• Financial Report: You may be asked to submit a financial report showing the company’s ability to secure the capital required for licensing.
• Copy of leases: If you intend to rent an office or work space, you will need to provide a copy of the lease.
• Business Plan: You may be asked to submit a business plan that explains the company’s goals and how to achieve them.
• Business activity form: A form must be submitted explaining the type of business activity that the real estate company intends to engage in.
• Other Certificates and Licenses: You may need to submit any other required certificates or licenses depending on the nature of the real estate business you plan to do.

 

Types of real estate companies that can be established in Dubai

Here is a table showing the types of real estate companies that can be established in Dubai, with a description of each type:

Each type of real estate company requires different licenses and establishment procedures depending on the specific activity and location within Dubai. You can choose the type that suits your business goals and future vision.

Advantages of establishing a real estate company in Dubai

Setting up a company in Dubai offers many advantages and opportunities that make it an attractive option for investors. Here are some of the key features of setting up a real estate company in Dubai:

• Active real estate market: Dubai has an active and dynamic real estate market, providing various investment opportunities in various real estate assets such as commercial, residential, hotel, and others.
• Flexible legislative environment: Dubai has a flexible and favorable legislative environment for real estate companies, which facilitates the process of establishing and operating companies in the real estate sector.
• Diversity of real estate offers: The Dubai real estate market provides a variety of real estate offers, which gives real estate companies the opportunity to benefit from the diversity of demand and provide suitable offers to customers.
• Strategic location: Dubai is strategically located in the heart of the Middle East, making it an important financial and commercial center that attracts many investors and clients from all over the world.
• Advanced infrastructure: Dubai has advanced infrastructure and advanced facilities that support the real estate sector, including roads, airports, ports, and commercial and entertainment centers.
• Strong legal system: The real estate sector in Dubai has a strong and transparent legal system that protects the rights of investors and provides a stable and safe investment environment.
• Strong competition: There is strong competition between real estate companies in Dubai, which motivates companies to provide high-quality services and innovate to meet customer needs.
• Availability of financial and banking services: Many specialized financial and banking services are available in Dubai to support the activities of real estate companies and finance their projects.

In conclusion, establishing a company in Dubai requires careful planning and specialized consultation to ensure your success in this competitive field. In this context, Itqan can be a strong partner for you in your journey to create a successful real estate company in Dubai.

Itqan Company has extensive experience in the real estate industry in Dubai and provides specialized consulting services that include market studies, opportunity analysis, project management, real estate development, etc. In cooperation with Itqan, you will receive the strategic advice and technical support necessary to achieve your goals in the Dubai real estate industry.

Using its local experience and deep understanding of the Dubai real estate market, Itqan provides customized services that help you study the market, identify future opportunities, and develop effective marketing strategies. The company also provides profit and loss analysis and financial planning services for real estate projects, helping you make informed decisions and achieve financial success.

In addition, Itqan can help you communicate with the relevant government authorities and obtain the necessary licenses to establish and operate your real estate company in Dubai. The company will guide you through all legal procedures and provide the necessary support to achieve full compliance with local laws and regulations.

In short, cooperating with Itqan will help you build a successful real estate company in Dubai by providing the necessary experience, knowledge, and technical support at every step of the process. You will be able to benefit from the company’s experience and achieve sustainable success in the Dubai real estate industry.

Frequently asked questions about setting up a real estate company in Dubai: