Nowadays, Dubai is one of the most powerful, vibrant and trendy cities in the world. Its world-class infrastructure has established it as one of the major players when it comes to trade, tourism, development, technology, and others. Due to these amazing features, Dubai has attracted all kinds of foreign investors.
Knowing all of this, the time has come for real estate entrepreneurs to arise and embark on a real estate business in Dubai. Real estate has proved to be one of the strongest business in the global market, attracting developers, construction companies, investors and brokers who are in the look to invest.
As you might have already noticed, purchasing a home is no longer something you do when you are going to get married or looking to move out with your family. In the 21st century, people look for properties just as an investment. Establishing a real estate business can be just the investment of your life.
So, if you’re planning on initiating a real estate business in Dubai as an entrepreneur, here are some tips that can help you out:
In the first place, you have to look for the place where you will set up your real estate company. This part of the process is pretty important, due to some UAE regulations, which state that businesses are required to be 51% owned by a UAE national.
Don’t get frustrated for your company’s own due to this regulation if you are not a UAE national as usually required. There are places around the entire country, and obviously in Dubai too, in which you can be 100% owner of your business. These areas are labeled as free zones.
Having a real estate business in free zones comes with lots of perks, such as corporate tax exemption for 50 years, no personal income tax, freedom from import duties, no currency restrictions, and avoidance of excessive regulations.
Decide Your Business Type
If you don’t already know, Dubai acknowledges 8 types of business organizations:
- Sole Proprietorship
- General Partnership
- Partnership en-Commendams
- Joint Venture
- Public Shareholding
- Private Shareholding
- Limited Liability Company
- Professional Company
As an entrepreneur, you just have to decide which of the types suits your company better so you can go through the paperwork and then get your real estate business license.
Not everybody knows how to set up a real estate business in Dubai and, if it isn’t obvious enough, it isn’t an easy task. That’s why you can always count with companies that can help you out with all the paperwork and, at last, getting a real estate business license in the UAE or, more specifically, Dubai.
There are plenty of companies that can help you set up a real estate business in Dubai. Our expert business setup consultants at Business Link UAE can be very useful and help you out with the entire process of setting up a real estate business in Dubai.
Set Up Your Real Estate Firm
One of the greatest advantages of owning your own business is that you’ll be one of a kind in the market. Distinctiveness in the market will help you win the trust of customers.
You just got to be patient and do things right and the rest will come along with hard work.
There never has been a greater time to think about a real estate business setup in Dubai, one of the greatest, richest and more advanced cities in the world. Even though the real estate market has a lot of fields to cover up, it is a profitable and trust-worthy market.