Dubai is the centerpiece of modern infrastructure and a sprawling metropolis. Dubai real estate employs the most cutting-edge expertise and technology in the world. It also provides consistent investment, attracting the world's largest multinational corporations.
As a result, there are numerous business opportunities in Dubai's real estate industry. Many investors are interested in learning how to obtain a real estate licence in Dubai. This article focuses on the costs of establishing a real estate brokerage in Dubai.
However, it is also important to understand the requirements. Dubai's real estate sector is expanding, which is why opening a real estate brokerage in Dubai is in high demand. Opening a real estate brokerage in Dubai, like anywhere else in the world, necessitates obtaining a licence, developing a business plan, securing funds, and hiring agents.
But, there are some additional requirements that are only found in Dubai, UAE, so it's better and more cost-effective to work with the local business experts at Dhanguard, who provide end-to-end business assistance by doing all the heavy lifting for you.
Mainland businesses in Dubai are required by law to assign a 51 percent partnership to a UAE national. In order to operate a real estate brokerage business in Dubai, you must give a UAE national 100 percent ownership.
When you follow the right steps, becoming a real estate broker in the UAE is fairly simple. To learn how to become a real estate agent in Dubai, follow the steps outlined below
You must choose a name for your Dubai real estate brokerage. For a small fee, you can select any Arabic or English name. The name must adhere to the guidelines established by the Department of Economic Development (DED).
To begin a real estate brokerage in Dubai, obtain preliminary approval from the Department of Economic Development (DED) and the necessary documentation from Tasheel.
At this point, the Memorandum of Association (MOA) must be typed in accordance with UAE commercial law and the protocols of the Department of Economic Development (DED). The importance of noting the MOA cannot be overstated.
One needs to have a local partner in UAE before starting their Real Estate Business in UAE.
Here's everything you need to know about becoming a real estate agent in Dubai with the help of a local sponsor. To start a real estate brokerage in Dubai, you must partner with a UAE national and give him 100 percent ownership.
You can engage in corporate sponsorship in Dubai by partnering with a reliable and trustworthy local partner. You may seek documentation such as an Investor's Right Protection Contract or the company's Power of Attorney, which appoints you as manager and gives you 100 percent operational ownership of the company.
The real estate broker or agent must be certified by the Real Estate Brokers Association in order to open a real estate brokerage in Dubai. Registration is required (RERA). It is mandatory to apply for the RERA Exam and obtain a Broker ID.
The following steps are required for RERA certification:
Dubai Police issues the Good Conduct Certificate to the Real Estate Regulatory Agency.
The Dubai Land Department must approve the establishment of a real estate brokerage in Dubai (DLD). The Dubai Land Department is the government agency in charge of all real estate matters in the region.
According to the regulations of the Department of Economic Development, all real estate brokerage licenses issued by RERA in Dubai require a rented office space or even an office in a business centre.
The cost of obtaining a real estate brokerage licence in Dubai is determined by several factors, including location and business activities.
The cost of the RERA registration exam is determined by the educational qualifications. The exam fee is AED 3,200 for bachelor degree holders and AED 6,300 for non-bachelor degree holders. The fee for applicants with no educational qualifications is AED 15,750. RERA charges a fee of AED 5,020 per activity.
After obtaining an RERA training certificate, licence processing can begin. A real estate brokerage licence for an LLC costs around AED 12,950.
The approximate cost of establishing a real estate company in Dubai begins at AED 21,000. This cost will vary depending on the other activities chosen as well as government fees.
The procedures outlined below can be used to register a real estate company in Dubai.
Still have questions about how to start a real estate company in Dubai or elsewhere in the UAE? Do you need to know about RERA's certified real estate broker training? Or are you looking for information on how to apply for an RERA licence in Dubai?
Do you have any reservations about any of the steps involved in becoming a real estate agent in Dubai? If you have any questions about establishing a real estate company in the UAE or any other business sector, please contact our professional business consultants.
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