If your thinking of getting an Expat Real estate license in Dubai then im sure you have found bits of different information online across the various forums which seems quite scary!
Can I 100% expat own my real estate company in Dubai ?
The short answer is no, all real estate brokerage licenses are completely restricted to local Emirati citizens only. This means you as an expatriate of the UAE are not allowed to own any shares in the company.
So how does Joe who I met in Zuma the other night have one?
The way this works is very simple, the company will be 100% owned by our trustworthy local Emirati Sponsor who does this for hundreds of companies in Dubai.
The Local Emirati will then sign a power of attorney over to you in full. Allowing you to run the business with full power including all bank accounts and transactions without limitations.
But I want to own the company outright….
In an ideal world that would be the case however this is not how it works in Dubai and everyone must play by the rules which is why this transaction works like this. There is 100% no other way to own a Real Estate brokerage or agency without the involvement of a local in this way.
So how do I know I can trust him?
In the western world we find it difficult to overcome challenges such as this, however look at the facts and act without emotion, our local sponsor does this for a job, you will be paying him for this service and he does this for literally hundreds of companies in Dubai who all pay him annually. If you do the math on that you will understand that the role that is played by the essential local Emirati is one that is highly lucrative for them. E.g 100 x 20K AED = 2,000,000 AED for putting your name to some companies is a great way to make a living. Of course these eco systems do not exist without reputation and if they went around reclaiming companies and having day to day involvement with the companies they deal with their reputations for trustworthy agents would simply not exist.
Im naturally skeptical and nervous but how do I find out more?
Come and see us. Sit with us, meet our local Emirati and we will alleviate all your concerns and questions, what you are feeling is natural and we come across this on a weekly basis for structures like this.
Give us a call or simply fill in the form below to have one of our specialists give you a no obligation quote which will give you the information and allow you to take the step you need to get the business you deserve,
Find out why Dubai is the ideal place to do business here