Starting a real estate organization in Dubai can prove to be a profitable investment for entrepreneurs. Dubai’s world-class infrastructure, fantastic skylines, trading opportunities, and tourism have made it one of the most attractive locations for international traders. Dubai’s real estate business is increasing at an extraordinary rate, as indicated by architectural marvels like as the Burj Khalifa, Marina 101, etc.
The good news is that they are inexpensive to both setup and maintain. Dubai is one of the famous destinations for beginning a business. This article guides you on starting your own real estate business in Dubai with the help of Rank Accounting and Consultancy.
Invest in Dubai Real Estate Business with Rank Accounting and Consultancy
Compared to other globally identified destinations, Dubai’s growing real estate marketplace offers many most profitable returns. The availability of e-authorities services simplifies the whole system online, making it less difficult than ever to pay for products and services, apply for trade licenses and certificates, and even obtain visas.
Would you like to become a real estate broker in Dubai? When starting your real estate firm, learn about the different types of businesses that exist and where they have previously operated.
Choose a location for your real estate business to start. You have more options for where you can set up your property because the UAE allows 100% foreign ownership on the mainland. Certain places have bare minimum limitations, which attracts more businesses. Operating a real estate company in a free zone also allows you to take advantage of a 50-year corporation tax exemption, no personal income tax, no import taxes, no currency restrictions, and the avoidance of onerous regulations.
Register your real estate company’s trade name
Try utilizing terms linked to your business, such as “broker” or “real estate,” in the name of your organization. You will be granted a commercial license by the UAE government to buy and sell real estate. The majority of the registration process can be completed electronically for initial approval. But your work isn’t done yet. To obtain final permission, you must add a few additional papers to your original applications and resubmit them.
Become knowledgeable or certified to better prepare for the licensing process
To acquire initial clearance and permission from Dubai’s Real Estate Regulatory Authority (RERA), you must first finish a professional training program and obtain a certificate. This is a requirement for procurement permission from the Dubai Real Estate Regulatory Agency. Additionally, if you have a college degree, you must finish the Real Estate Certified Practitioner course.
If you don’t have a bachelor’s degree, you can enrol for the Real Estate Executive Diploma program. Visit the RERA website to learn more about this qualification.
Use back-office assistance
As an entrepreneur, you must handle every responsibility with professionalism. A corporation needs to analyze its spending and earnings. Doing so may also allow you to make better-informed decisions. On the other hand, you may eventually be burdened with tasks such as real estate accounting, back office operations, and so on. As a result, it makes sense to outsource accounting services rather than hire skilled individuals domestically, which can be costly.
Establish a real estate brokerage
Having your own office as a real estate firm owner will help you stand out in the market and attract consumers by demonstrating that you operate your business appropriately. Furthermore, you can develop your credibility as a trustworthy business owner. Thank you to the UAE government’s appropriate licenses and RERA.
Which Licenses Are Needed?
To begin a real estate firm in Dubai, entrepreneurs must first attain a Real Estate Brokerage License from the Dubai Land Department (DLD). It is useful for a variety of real estate-related activities, which include buying, selling, renting out, and dealing with properties in Dubai. Rank Accounting and Consultancy, with the help of specialists, offers complete aid to its customers in organising real estate companies in Dubai.
The following are some of the steps needed in obtaining a real estate brokerage license in Dubai:
- Obtain a valid residence visa and complete the appropriate documents and company registration procedures.
- Sign up for one of the Dubai Real Estate Institute’s (DREI) authorized training programs. The course prepares you for all aspects of the Dubai real estate sector.
- After passing the exam, apply for a realtor license and acquire approval from the DLD to obtain your RERA card.
Why Choose Rank Accounting and Consultancy as your Real Estate Business Partner?
If you want to start a real estate agency in Dubai and are seeking the help of professional business setup professionals, Rank Accounting and Consultancy can assist you at every stage of the process. We specialise in helping customers with all of their needs, from acquiring licenses and permissions to providing office space and visa services. Don’t miss the opportunity to put money into Dubai’s thriving real estate market.