Start a Real Estate Business in Dubai – How to Guide
Essential Authorizations for Operating a Real Estate Business in Dubai
Operating a real estate business in Dubai requires obtaining the necessary licenses and regulatory approvals:
- Trade License: Acquire this license from the Department of Economic Development (DED) to conduct business activities in Dubai.
- Real Estate Business License: This license, issued by the Dubai Land Department (DLD), is essential for legally operating a real estate business. The real estate brokerage license is particularly popular, allowing engagement in real estate transactions within the UAE.
- RERA Certification: Enroll in the DREI training program, complete the coursework, and pass the exam to obtain your RERA certification.
- Ejari Registration: Register with the Ejari system to ensure all rental agreements are standardized and legally binding, a requirement for firms managing rental properties.
Start a Real Estate Business in Dubai – How to Guide
Develop a Business Plan: Outline your goals, strategies, market analysis, and financial projections to establish a clear roadmap.
Choose a Business Location: Decide between operating on the mainland or within a free zone, each offering distinct advantages.
Select a Business Structure: Determine the legal structure, such as sole proprietorship, partnership, or limited liability company (LLC), to define your operational framework.
Register Your Trade Name: Choose and register a compliant trade name that adheres to Dubai’s naming guidelines.
Prepare Documentation: Gather necessary documents, including a Memorandum of Association (MOA), and have them notarized.
Obtain Initial Approval: Secure a No Objection Certificate (NOC) from the DED to proceed with the setup process.
Complete RERA Training and Certification: Enroll in the DREI course, pass the RERA exam, and obtain the required certification.
Obtain a Good Conduct Certificate: Acquire this certificate from Dubai Police as part of the licensing requirements.
Secure Office Space: Lease an office, obtain a tenancy contract, and register it with Ejari.
Register Your Business and Apply for Licenses: Submit your application to the DED and DLD, ensuring all requirements are met for approval.
Open a Business Bank Account: Establish a corporate bank account to manage your business finances.
Apply for Visas: Register for immigration and secure residency visas for yourself and any foreign staff.
Obtain Final Approval from DLD: Receive the final authorization to commence operations.
Additional costs may cover legal services, company registration, office space, staffing, promotions, and ongoing operations. These expenses may differ depending on the nature of the business, chosen location, and number of employees.
