While the world’s property markets continue to face a sharp slump, the real estate markets of Dubai and other emirates such as Abu Dhabi, Sharjah, and Ajman continue to grow and thrive. The demand for Dubai real estate, both residential and commercial, has not only remained afloat but also retained its upward trend. The Government’s assurance of the market stability and the continuing boom in Dubai’s real estate that have helped retain investor confidence.
In order to obtain the la real estate license in Dubai, both you are your local partner need to obtain qualification certificates from RERA – Real Estate regulatory Agency. A certificate is granted to those who have completed:
- a 1-2 day course @ 2,500 AED (if they have a Bachelor’s degree) or
- a 1 week course @ 12,000 AED (if they do not have a Bachelor’s degree)
Your local partner will also be required to provide a Certificate of Good Conduct from the Police.
Your local partner will be getting an annual payment from you towards having the company in his name and being fully responsible for all issues concerning the company. The annual payment to your local payment could range between 30,000 AED to 150,000 AED.
As per RERA rules and regulations, different types of Real Estate Activities require different types of Real Estate Licenses. Activities may range from Buying and Selling of Real Estate and Real Estate Consultancy to Real Estate Public Auction Organizing or Property Inspection Services.
Companies which are granted Property management and leasing license need to pay a security deposit of 10 million AED (increased post 2012). Alternatively, such companies should own properties worth 10 million AED and be willing to pay an 1 million AED in security deposit.
Although owning a real estate company in Dubai may not be that easy, the investment will surely reap handsome returns in a short span of time.
Jump start your business with Samsun Godwin!