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LLC COMPANY FORMATION IN DUBAI
Question – What are the requirements to start up a Real Estate License?
What are the requirements to start up a Buying & Selling of Property License?
We at PRO Desk assist customer in setting up a Real Estate License in Dubai. This License is falls under Sole Establishment category. This License is owned 100% by UAE National only. This license can be LLC when more than one UAE National is Partner in the license. The following are the steps required to start a new license in Dubai.
Trade Name Reservation
The first and foremost step in registering the License in DED is to select a name and it needs to be approved by DED. The client needs to give Three name options and depend on the availability in the DED the name will be approved. The activity code will be a part of the Trade Name reservation. (Kindly note: – The name cannot be reserved by Name of the country & Continent, Famous Regions and Town, etc)
Initial Approval
Once the Trade Name is reserved, then the next step is going for Initial Approval. For Initial approval the activity needs to be specified. In DED there are list of activities specified. The client can choose for more than one activity provided it should be from the same activity group. All the documents need to be submitted at DED for approval and Issuance of Initial approval Certificate.
Approval for RERA (Real Estate Regulatory Authority)
In Dubai all types of Real Estate License is covered under RERA (Real Estate Regulatory Authority). The below is the requirement for RERA Approval:-
• The UAE National must be at least 21 years old to have the license in his name.
• The UAE National must complete Real Estate Practitioner Course if he is a Bachelor Degree holder or Diploma in Real Estate if he is a non-graduate.
• The Manager in the License must have Visa under this license.
• Need to submit Certificate of Good Conduct from CID.
On filling the application at the RERA based on the qualification of the local sponsor, a Registration receipt will be issued to be submitted at DED.
Ejari (Tenancy Contract)
The Tenancy contract must be registered in the Land Department between the Landlord and the Tenant and on submission they will issue an Ejari. The minimum square feet required is 200.
Payment Voucher at the DED
Once the Notary and Ejari is done submit all the documents to DED to get the Payment voucher. The DED will register the company in the Commercial Register and the Payment Voucher will be out.
Trade License
On receiving the Payment voucher, we can pay the voucher in the DED either through Cash or by Card and get the Trade License immediately. Once the license is received you can then do the amendment by adding PO. Box and other details.
Note for RERA :
• Once the License is issued from DED, All Owners, Partners, Managers and sales staff must register at RERA for getting Broker ID Card.
• Owners of this license are not allowed to own more than one real estate brokerage license.
• Branch License is allowed only if the Parent License are having minimum of 15 staffs.
Documents Required for Trade name reservation: Passport copy of Local Sponsor
Documents Required for Initial Approval: Passport copy of the Local Sponsor, EID copy of local sponsor. If the Manager is a third person then the Visa page copy and EID copy of the person is required. The Manager should have the Visa from the company itself.
Documents Required for Ejari (Tenancy Contract): NOC from Landlord, DEWA deposit slip, EID of the Tenant and Landlord, Passport copy of tenant.
Documents required for Payment Voucher:
Trade Name reservation copy, Initial Approval Certificate copy, Ejari copy, Passport copy of the Local Sponsor, EID copy of local sponsor. If the Manager is a third person then the Visa page copy and EID copy of the person is required.