Are you thinking about opening a Real Estate Brokerage Company in Dubai? United Arab Emirates is a hub for foreign investors thanks to its top-notch infrastructure, technical advancements, company investments, and trading prospects. Dubai is a prime location for real estate investors thanks to its magnificent skylines, best infrastructure, renowned landmarks, and popular events.
Dubai is now becoming one of the world’s best real estate markets and offers a great ROI. The appeal of Dubai properties has grown since the golden visa program was introduced for real estate investors and buyers who would invest over Dh2 million. The 10-year residence visa encourages real estate investments, making Dubai the best location for purchasers.
The UAE’s real estate market has undergone a significant transformation, refocusing on the prospect of long-term capital growth.
The 2023 legislation makes it easier for more foreign investors to buy real estate in the emirate. The government has streamlined the overall process by luring foreign investors into the property market and providing online services for property ownership, registration, licensing etc.
Obtaining a Dubai Real Estate Brokerage License
In Dubai, the Department of Economic Development (DED) offers a real estate license. Companies that mediate between the buyer and the seller to complete real estate sales and transactions are required to have a real estate brokerage license.
Real estate broker’s responsibilities also include selling and promoting properties using contracts and agreements that have been approved by the RERA. For more details about the commercial brokerage license, speak with our business setup consultants.
Why is Dubai regarded as the Best Real Estate Location?
Dubai’s real estate industry has been steadily growing for many years and is now one of the most appealing property markets in the world. Reasons for setting up your Real Estate Brokerage Business in UAE are as follows-
1. Simple Business Setup Process
Dubai and the rest of the UAE are renowned for their effective and efficient business infrastructure. Making a real estate company is no different. The process for Company Setup in Dubai is hassle-free with Shuraa.
2. Low Taxation Scheme
Due to the absence of corporate and income taxes, Dubai is regarded as a haven by other nations.
3. Supportive Leadership
Numerous policies and regulations supporting real estate brokerages, and authorities charged with defending the rights of agents and brokers. Dubai offers a proactive environment that maximises the potential of the emirate’s established and developing sectors.
4. Substantial clientele
Due to Dubai’s friendly residents, many travellers and investors have chosen to stay in the emirate. Real estate benefits from a big clientele and constant demand.
Benefits of having Commercial Brokerage License in Dubai
Benefits of getting a Commercial Broker License are as follows-
- Transparency and simple documentation.
- This country employs a diverse range of citizens. It has a metropolitan aspect thanks to this global pool of labour, which makes communication and governance simple.
- Dubai grants 100% firm ownership and additional benefits to businesses with a high personal tax.
- The business’s lack of fraud and the strict anti-money laundering laws ensure that it becomes a beneficial entity. Fulfilling their social and moral obligations as well.
- Ensuring to carry out all the commercial Broker activities in Dubai without any hassle.
Documents Required to get Commercial Broker License
Documents required by DED
- Copy of the owner’s passport, an Emirates ID card, and a family book (if applicable)
- Passport Size photograph in a white background
- Contract of tenancy and Ejari certificate
- Articles of association (if applicable)
- External RERA approval
Documents required by RERA
- Application for DED
- Reservation of trade names
- initial inquiry approval receipt
- Owner’s passport Copy, an Emirates ID card, and a family book
- Dubai police certificate of good conduct
- Owner’s degree certificate
- Certificate or degree in real estate practitioner course
How can You Expand your Commercial Brokerage Company?
Adapting to changing conditions is frequently necessary for business success. However, in today’s competitive and dynamic economic climate, growth and expansion are crucial to a company’s sustained success. The optimal option will depend on your type of business, resources, schedules, and funding. There are numerous ways to start your UAE company.
You can consider the following three:
1. Establish Strategic Partnership
To expand quickly, it may be advantageous to partner with other businesses that offer related goods or services. Collaborations between companies are a terrific approach to reach unexplored markets. Additionally, a strategic alliance might give you rapid access to new customers.
2. Identify and target new markets
Even though your current niche market is flourishing, you could think about looking into more opportunities. By taking advantage of your established brand recognition, you can enter new markets. To find clients for your service, start conducting research in various areas.
3. Mergers and acquisitions (M&A)
A merger might enable your business to gain market share. Start by determining which companies are like yours. Analyse your potential gains from a merger or acquisition.
Steps for getting Commercial Broker License in Dubai
- Reserve a trade name by completing an online DED application.
- The next step is to submit an application form along with the necessary paperwork. This includes passport copies for all shareholders and the manager as well as attested copies of each shareholder’s academic transcripts.
- Complete the RERA Course, this training can last anywhere for about 2 weeks, and completion of it will provide the candidate with RERA clearance.
- The DED license copy, application form, tenancy copy, location map, and RERA course purchase receipt should be given to RERA, which will grant the registration certificate.
- Registration with DNRD and Ministry of Labor is the Real Estate Brokerage Company’s last stage. This will result in the completion of Dubai’s commercial brokerage license process.
Cost of New Commercial Brokerage License in Dubai
Several variables affect the cost of obtaining a commercial brokerage license. They consist of the price of your office’s site, employees, and insurance charges, as well as license and visa fees. A license for commercial broking is available from as low as 12,500 AED*.
Contact Shuraa for a detailed price quote. We can provide you with a current quote that is based on your specific needs.
Takeaway
As one of the cities with the fastest growth rates in the world there is a high demand for real estate. Real estate in both the commercial and residential sectors is included. Professional realtors are in high demand in the UAE, because of its offer of investor visas.
We are a group of professionals providing business setup services in Dubai, UAE with the guidance of our expert team of consultants.
With the assistance of business setup consultants at Shuraa, you can obtain your commercial real estate brokers license and expert assistance for your business setup in Dubai. Contact our business setup consultants for a free consultation at +971 44081900, WhatsApp us on +971 507775554 or email us at info@shuraa.com.
