Dubai is one of the most beautiful cities in the world with its impressive skyline, making it an attractive destination for foreigners, both for tourism and investment. On the way to sustainable growth, a quality that resourceful entrepreneurs know how to use.

Here is a guide for how to start real estate business in Dubai.

Step 1: Choose the business model of your company

Note that as a foreign entrepreneur, if you want to be the sole owner of your company, you need a free zone license. Otherwise, in the rest of the United Arab Emirates (UAE), most companies must be 51% owned by a United Arab Emirates citizen. As for the business structure in Dubai, there are a few to choose from.

The first business model would be individual property; in this case there is no minimum working capital requirement and it can only be a manager; The second type is a sole proprietorship with limited liability: owner liability, i.e. the liability of the shareholder is limited to the value of the shares held; the third type is civil society: this group of professionals can be of different nationalities, but if there are no UAE citizens they would need a local service agent; the fourth type is the limited liability company: 51% ownership by UAE citizens is mandatory; The fifth type is a partnership: UAE citizens must be general partners while foreigners can be limited partners and there are no ownership restrictions.

Step 2: Register Your Business and Get Licenses

You should start with a name and it would be wise if you could include “Real Estate” or “Broker” as this will give you a clear idea of ​​what your business does. You need to register your company and reserve this company name with the Department of Economic Development (DED).

You will then need to resubmit the original documents and add new ones for final approval. Real estate license, you also need to complete a compulsory course with the Real Estate Regulatory Agency (RERA). Different real estate activities require different licenses, so it is best to visit the RERA website. Since Dubai is a different game when it comes to doing business in the real estate market to successfully start a business in Dubai, you can hire an agency to help you with registration, visas and licensing, and all the bureaucracy and guide you to the business model Reduction of the e-potential advises. Risks and Costs.

Step 3: Set up a professional office for the company this step is important as the physical presence of an office gives your business credibility considering that you are a foreigner with no reputation in the UAE world and you are just starting out .This office must contain a landline number and not just a cell phone number.

You can rent or buy office space in the Dubai Free Zone. You have the choice between 2030 square meters of space or 2,000 square meters of multi-story offices. Meter each. For starters, if it suits your budget and needs better, you can start with a Flexi desk. The main benefit is that you can use it part-time while you have a full-time address. Convenient interim solution until the business and its finances stabilize and the need for an office and full-time employee arises. If you are not sure about the choice of location, you can also contact one of the Dubai agencies.