A good business idea in the UAE is a real estate company in Dubai, due to the booming market today. The future of this sector looks promising, due to the guarantees offered by real estate and the economic performance.
In this article, we will show you the advantages of establishing your real estate business in the UAE. Let us see:
- Know how to invest in real estate
- Should you start a business in mainland Dubai or a free zone?
- Establish a real estate company in the United Arab Emirates with ConnectFZ
1. Know how to invest in real estate
A recent survey indicates that 64% of property owners are considering selling their properties to take advantage of the market boom. Furthermore, it is possible that this year, more than half of these owners will execute those sales. There is also a favorable forecast that high-end properties will rise between 6 and 7.9%.
This is favorable for those who want to establish a real estate company in Dubai, especially in a Free Zone. Most of the participants in this survey hope to sell their properties to get a higher-level property. Moreover, the real estate market is in continuous expansion, due to favorable reforms, such as the golden visa or visas for retirees.
In the same way, the market is favored by the high demand for properties, which far exceeds the supply. Thus, you should take advantage of the heyday of this business if you are looking for a significant investment market.
1.1 How to set up your real estate company in Dubai
Next, you will see what you need to invest in real estate in the country and especially in a Free Zone.
- Choose a business model. In this case, you will have to choose between establishing in a Free Zone or on the mainland.
- Complete the registration process. This includes establishing your business name and submitting the appropriate documents to the Department of Economic Development. This way, upon approval, you will get a business license for a real estate company in Dubai.
- Get the necessary qualifications. To set up your business, you will need to go for a broker qualification at the Dubai Real Estate Institute.
- Get a real estate license. This process must be done at the Real Estate Regulatory Authority and depends on the type of real estate activity.
- Establish your office. In this case, you will be able to rent or buy office space in the UAE location in which you will establish your real estate business.
- Stay on top of the real estate market. Having a successful business entails being aware of the real estate market but also of the corresponding regulations.
In addition, since the real estate sector is constantly growing in the country, you will have to stay ahead. Therefore, you must ensure that you keep informed of market structures and changes as they occur.
2. Should you start a business in mainland Dubai or a free zone?
To make your investment in Dubai in the real estate sector, you will have 2 options: mainland or in one of the Free Zones. The latter offers appropriate infrastructure and well-known advantages for foreigners to establish their businesses. For example, they offer great locations and benefits that depend on the type of business you want to establish.
In Dubai, there are about 30 Free Zones where you can get a good profit from your real estate investment. Likewise, they offer great transport infrastructures, easy access to services of all kinds, and much more. In addition, these special zones have their laws that regulate business operations in the area.
Similarly, if you establish your real estate business in one of these zones, you will be able to take advantage of 100% foreign ownership. Also, the regulations that differ in many cases from those established on the mainland, make it easier for you to establish your business. Another benefit of these zones is that businesses are free of corporate taxes, making them more profitable.
Free zones also allow you to establish a business remotely, that is, the owner is present at the time of the process. The business license can usually be obtained in about 3-5 business days, which is much less than on the mainland. In a free zone, you can choose to have a virtual office, while in the mainland you must meet a minimum office size requirement.
2.1 Real estate company in Dubai on the mainland
As we mentioned, you have the option to set your Dubai investment real estate on the mainland. Generally, these zones have regulations and standards that differ to a great extent from those established in the Free Zones. For example, the rules related to the educational levels of the staff and shareholders of the business are different.
On the mainland, it is also essential that they have a physical office with a registered address, unlike the flexibility of the Free Zone. Another aspect to take into account is that on the mainland the visa is only for 2 years, as opposed to 3 years in the free zone.
3. Establish a real estate company in the United Arab Emirates with Connect FZ
Establishing a real estate company in Dubai is one of the best business ideas, given the current market conditions. At Connect FZ we have a variety of services for you to establish your business in a free zone, including these:
Therefore, if you want to know more about the benefits of an investment in Dubai in a free zone, contact us. Our contact number is +971 43 316 688, we also have email@example.com for your queries and doubts.