+971 4 369 7455
+971 589 500 125
contact@dubaibusinesssetup.ae
Real estate is one of the best investment opportunities on the planet because of its high and relatively stable worth. Regarding real estate, Dubai is the ideal location to invest in. The UAE, whose commercial capital is Dubai, is one of the wealthiest and most developed economies, with a highly dynamic and forward-thinking business culture characterised by on going development and progress.
Despite the Covid-19 pandemic, it successfully hosted the just finished Expo 2022 Dubai, demonstrating that to the rest of the world. It explained once more how secure and alluring Dubai is as a location for investments.
Why You Ought to Make Investments in the UAE City of Dubai’s Real Estate Market
Ahead of markets like London and New York, Dubai’s real estate sector has one of the highest yields in the world.
The real estate market in Dubai is once again attracting buyers and investors, and it is predicted that it will expand sustainably over the long term. September 21 was the industry’s strongest month in the previous eight years, with transactions totalling AED 16.2 billion?
A real estate business setup promises three significant advantages that particularly stand out. First, investors can take advantage of a steady, predictable, and ongoing cash flow in a prosperous and stable economy. Second, Dubai offers significant returns, tax advantages, and diversity. Finally, the real estate market is predicted to soar even higher in the future due to the enormous surge in demand worldwide.
Development Permit for Real Estate in Dubai Mainland
The Department of Economic Development (DED) has issued Real Estate Developer Company Licenses, which you must get. DED Activity Code 6499004 identifies it as a commercial licence.
According to the DED’s definition, this licence relates to businesses established for developing and forming real estate projects, such as residential and commercial complexes, travel-related endeavours, and creating the necessary infrastructure and recreational amenities.
The Real Estate Licence also covers the sale of real estate or projects by Dubai’s freehold ownership laws. To do this, the developer and the landowner must sign a contract, which must then be registered with the Escrow Accounts Department before the start of the project.
You can get assistance from real estate business setup consultants in Dubai to prepare the licence application.
How Can I Get a Residential Development in Dubai Mainland?
If you follow all the required steps, obtaining a Real Estate Development licence in Dubai won’t be difficult. You must know the necessary stages for company creation in Dubai to get the licence quickly. You must follow the processes outlined below to apply for a real estate development licence in Dubai mainland:
- Choose the industry sector.
- Decide on a firm name.
- Decide on a legal framework.
- Obtain the initial nod from DED.
- Rent a workspace and sign the lease (Ejari)
- Obtain Real Estate Regulatory Agency’s outside approval.
- Include the external approval in the paperwork you submit to the DED.
- To obtain a DED Real Estate Development licence, pay the required cost.
Approval From Real Estate Regulatory Agency for Developers
According to mainland Dubai company registration laws, you need RERA authorisation before proceeding with licence approval. The Dubai Land Department (DLD) is home to the regulatory organisation known as RERA. RERA controls the real estate market in Dubai, offers a legal framework for all parties engaged in the industry, and upholds the regulations.
To obtain a Real Estate Developer Licence in Dubai, you must apply for the Trakheesi system. You can get help with the approval procedure from business establishment consultants in Dubai. To receive RERA approval, you must submit the following paperwork:
- an Emirates ID card, a copy of your passport, or your residency visa
- images that depict passport size
- a certification that you have passed the RERA exam and the RERA-authorised training
- a photocopy of your realtor licence
- police in Dubai have issued a certificate of good behaviour.
- The original of your trade name reservation
Constructing an Escrow Account for Real Estate Developers
To finish registering a real estate firm in mainland Dubai, you must adhere to several standards. To build a property and begin off-plan sales in Dubai, you must create a real estate development firm and open an escrow account. Any money paid by the buyer will solely go into the escrow account.
Additionally, any payments taken out of this account will follow the rules established by the RERA and will only be used to develop a specific project. Business setup specialists in Dubai can provide more clarification on this issue.
Summary
One of the top companies, Dubai Business Setup, assists entrepreneurs in Dubai and abroad in getting Real Estate Developer Company Licenses for their ideal companies in their chosen markets. Our services are relied upon by a sizable and distinguished blue-chip clientele worldwide.
We provide customized business formation services in Dubai to assist you in fulfilling your company registration requirements. The highly skilled advisors at Dubai Business Setup can guide you on the critical prerequisites for registering a real estate company in Dubai.
