Dubai Real Estate market has been lucrative ever since the introduction of freehold property allowing expatriates to own real estate in the Emirates. It has seen massive growth over the last 20 years despite the economic downturn of 2008. Last year alone, the Dubai Land Department recorded transactions worth AED 81.03 Billion (US $ 22.06 Billion). It is set to increase in the years to come because of multiple factors including long term residence schemes, the economic activities of the region, improvement in infrastructures and introduction of the concept of holiday homes, to name a few.

There is great potential in the market and in this article we have specifically transcribed about the requirements to register the most popular business activities related to Real Estate in Dubai. For steps to register Mainland License in Dubai click here

  1. Real Estate Buying & Selling Brokerage.
  2. Buying and selling of real estate.
  3. Real Estate Consultancies.
  4. Real Estate Representative Office.
  5. Real Estate Management Supervision Services.

 

Real Estate Buying & Selling Brokerage:

This service allows to provide brokerage services for the buying and selling of property. The service is available to companies that act as brokers between owners and buyers. These companies provide their services in return for commissions, and their role ends upon execution of the contracts.

Requirements:

Parties to the license: 100% UAE Nationals/ GCC Citizens ownership

  • Corporate entities cannot enter as parties to the license.
  • The UAE Nationals/ GCC Citizens may not be aged less than 21 years.
  • Certificate of Good Conduct (Police Clearance Certificate) issued by Dubai Police.
  • All parties must undergo a course conducted by Dubai Real Estate Institute. A holder of university degree must take real estate qualification course and others must take real estate diploma course.
  • In case of a non-UAE national manager, his/her residence permit must be sponsored by the company.

 Important Notes:

  • Post license issuance and before conducting the activity, the company must be registered with the Real Estate Brokers Register and Real Estate Broker Cards must be issued to the license holder, manager, and sales personnel through the Dubai Land Department website (www.dubailand.gov.ae) – Electronic Services (Tarakheesi System).
  • No person may apply for more than one real estate brokerage license.
  • A branch may be established if the number of sales employees of the parent company exceeds 15.
  • The registration number of the company and broker must be mentioned when any real estate advertisements are published.

 

Buying and selling of Real Estate:

This service is available to firms engaged in buying and selling property, including residential and non-residential buildings, for the purpose of resale. These firms are not permitted to conduct the Real Estate development activity (Activity No. 659908).

Requirements:

Parties to the license: 51% shares held by UAE National and 49% held by Expats or 100% UAE nationals/GCC citizens.

  • In case of a non-UAE national partner or manager, his/ her residence permit must be sponsored by the company.
  • Certificate of Good Conduct issued by Dubai Police General Headquarters.

Important Note:

In case one of the license parties is a non-UAE National, the firm can own properties only in freehold areas.

 

Real Estate Consultancies:

Real Estate Consultancies

This service allows specialist to provide sound advice to potential buyers as well as developing strategies to achieve their goals and objectives, it involves showing properties, analyzing sales statistics, sourcing evaluators, referring mortgage service providers, contractors and renovation providers, studying contracts prior to making offers, closing and escrow expertise.

Requirements:

Parties to the license:

UAE/GCC Nationals

  • University Degree (in business administration, real estate, or finance).
  • Certificate of Real Estate Qualification Course.
  • 3 years experience in the real estate industry.
  • Certificate of Good Conduct (Police Clearance Certificate) issued by Dubai Police.

Non-UAE/GCC nationals

  • Curriculum Vitae (CV).
  • University Degree in business administration, real estate, or finance.
  • Certificate of Real Estate Qualification Course.
  • 5 years experience in the real estate industry.
  • The residence permits of the license holder and manager must be sponsored by the company.
  • Certificate of Good Conduct (Police Clearance Certificate) issued by Dubai Police.

 

Foreign Company Branch:

  • Copy of the Commercial License or Registration Certificate of the company.
  • The company must have been established for at least 2 years.
  • Copy of the Memorandum and Articles of Association of the parent company.
  • The Board of Directors’ resolution for establishing the branch and appointing the manager of the branch.
  • A UAE National must be appointed as Local Service Agent.
  • The business activity in the license of the parent company must be identical to that of the branch.
  • Certificate of Good Conduct (Police Clearance Certificate) of the manger issued by Dubai Police.
  • All documents must be attested by the UAE embassy in the home country of the parent company, and the Ministry of Foreign Affairs (MOFA) in Dubai, and must be translated into Arabic by Legal Translator.

 

 Real Estate Representative Office:

This service is available to real estate representative offices established in the Emirate of Dubai by a global company or organization to represent it in the UAE in order to market and promote the property that it owns outside UAE, or facilitate commercial deals between the mother company and its customers, such office is not allowed practice any activity or enter transactions concerning real estate by itself.

Requirements:

  • Copy of the Commercial License or Certificate of Registration in the country of the parent company.
  • Board of Directors resolution establishing the branch in Dubai.
  • Board of Directors resolution appointing the manager of the firm. The manager’s residence permit must be sponsored by the company.
  • Approval from the Ministry of Economy.
  • A UAE National must be appointed as Local Service Agent.
  • Certificate of Good Conduct (Police Clearance Certificate) issued by Dubai Police.

Important Notes:

  • The firm may not conduct the activity of selling or purchasing property, but shall only operate as a representative office.
  • All documents must be attested by the UAE embassy in the home country of the parent company, and the Ministry of Foreign Affairs (MOFA) in Dubai, and must be translated into Arabic by a legal translator.

 Real Estate Management Supervision Services

This service is available to firms engaged in providing property management services. This covers contracting with maintenance, cleaning, and security companies; managing the administrative affairs of property and contracting with real estate brokers to rent real estate units. These companies may not provide brokerage services for the sale, lease, or resale of property.

 Requirements:

Parties to the license: 51% shares held by UAE National and 49% held by Expats or 100% by UAE/GCC National

  • The manager and employees must hold a Certificate of Real Estate Management Course.
  • An undertaking to refrain from conducting the activity of real estate brokerage or re-leasing of property.
  • In case of a non-UAE national partner or manager, his residence permit must be sponsored by the company.
  • Certificate of Good Conduct (Police Clearance Certificate) issued by Dubai Police.

 Important Notes:

  • Before conducting the activity, the company must be registered in Ejari System and the concerned employees must be registered in the Real Estate Brokers Register.


For any further information or assistance regarding Business Registration/ Set-up, please contact us or you can directly contact Mr. Ashwin Chandrashekar on +971543297867 or drop an email to  ashwin.chandrashekar@adamglobal.com

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