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How to open a real estate agency in Dubai
Year after year, the real estate market in Dubai is growing rapidly. In addition to an active influx of tourists, the city is attracting more and more wealthy expats and investors from different parts of the world. They are definitely attracted by the diverse infrastructure, the development of innovative and energy-saving technologies and a stable business climate.
Experts predict that by 2024 the Dubai real estate market will become a global center with a record growth of 5%. It is also worth noting that by 2040 the government plans to increase the population of the emirate to 5.8 million people, which in turn will lead to an increase in demand for various types of housing.
Obviously, opening a real estate agency in the United Arab Emirates is considered one of the most promising areas of business. It should be remembered that this area of activity is subject to strict regulation and requires external approval of the Land Department. At a consultation with a lawyer you can learn more about what requirements should be taken into account and what procedures should be followed.
Obviously, opening a real estate agency in the United Arab Emirates is considered one of the most promising areas of business. It should be remembered that this area of activity is subject to strict regulation and requires external approval of the Land Department. At a consultation with a lawyer you can learn more about what requirements should be taken into account and what procedures should be followed.
The registration process consists of several stages:
- Selecting a trade name in accordance with the legislation.
- Obtaining external approval from the regulatory authority.
- Selection of an office and registration of a legal address.
- Selection of a suitable license.
- Obtaining a certificate of approval from the Land Department division.
- Registration of the company in the UAE anti-money laundering system.
- Passing the necessary exams and registration of broker card by the real estate agents of the company.
At a free consultation with an Openbiz specialist, you can get more information on how to open a real estate agency in Dubai.
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