The real estate sector in Dubai has been flourishing for a long time. Several business firms, organizations, and individuals looking for a property at ideal places. The people who start their real estate firm looking for how to get a real estate license in Dubai then need to consult with the best business setup consultant at Start Any Business UAE who will surely help you in this procedure. They will provide you with a wider range of services and make it very easy, reliable and trouble-free. Here we mentioned a little guide on getting a real estate license in Dubai
The real estate sector presents you with huge development prospects. A similar is true not only in Dubai but in other emirates also. You can make a fortune by assisting entrepreneurs, and companies to figure out the most suitable location for setting up companies or to live.
The location of a business unit is vital in making it a success. The availability of a conducive environment and adequate infrastructure is critical for the success of the business. This is a rewarding experience when you play a crucial role in the development of the business.
A real estate firm in Dubai can select either a single setup or LLC legal framework. If there is just one business owner, then the legal framework of the firm has to be a sole entity. If the stakeholders are more than 2, the legal framework of the firm must be a Limited Liability Company and you require a local service agent to set up a company. A limited liability company real estate firm permits up to 50 stakeholders. The real estate firm can be only established on the mainland.
The Process to Get a Real Estate License in Dubai
With the trade name, business activities, and type of setup decided, you can now need to make your license application to set up your real estate business in Dubai. if you want to do property management or brokerage services, you would require to apply for a professional services license in Dubai.
You can make an application either directly to the DED (Department of Economic Development) or at one of the free zones in the UAE. Free zones are often a very simple and cost-effective method to begin a real estate company and provide several lucrative advantages involving zero percent corporate or personal income tax and 100 percent exemption from customs duties. Moreover, unlike in several other nations, the free zone businesses of the UAE also benefit from the freedom of being capable to recoup all invested profits and capital. There are no overseas exchange or currency limitations.
In addition to your business license, you would also need additional accreditation to conduct in Dubai real estate industry. To get approval to business in the real estate market you require to pass the real estate broker training course with the RERA (Real Estate Regulatory Authority). Once you passed, you would be issued a permit and begin trading.
RERA License Dubai Cost
The cost of getting a real estate license in Dubai would depend on many aspects involving your specific activities of the business, and the location and size of the company. In many cases, although, startup costs are typically low.
The cost of the RERA registration exam is based on educational eligibility. For the holders of a bachelor’s degree, the exam charge is AED 3,200, while for non-bachelor is AED 6,3000. And, for the applicants who have no educational eligibility, the charge is AED 15, 750. The cost taken by RERA for each activity is AED 5,020.
After getting the certificate of RERA training, the processing of the license can begin. The cost of a real estate license for an LLC is around AED 12,950.
RERA License Requirements
- DED application form
- Trade name reservation
- Initial approval inquiry receipt
- Copy of passport, Emirates ID, and family book of the owner
- Good conduct certificate from Dubai police
- Owner’s degree certificate
- Real estate practitioner course certificate
Whether it is a real estate firm or a broker – all demand a suitable house in Dubai. Apart from this, Dubai presents several lucrative business options for you to make more investments. Start Any Business UAE provides you assistance to gain this by giving proper support professionally from the consultation. Our experts are trained with years of experience in the real estate industry. Our professionals are able to obtain a real estate license in Dubai in a successful manner without any hassle.
Also read, How to Become a Real Estate Agent in Dubai