Dubai: Due to the recent regulatory update, specialist service provider PRO PRO Partner Group helps real estate brokers start businesses in the UAE. Dubai has now announced that real estate brokerage can now be 100% foreign owned, as well as a large number of business activities in Dubai and Abu Dhabi.
Changing laws and regulations in the country can make setting up a business in the Middle East a long and complex process without the help and services of an experienced and trustworthy partner. The PRO Partner Group provides specialist PRO services and solutions to all types of businesses in Dubai, Abu Dhabi, UAE at large, Oman, Qatar and Saudi Arabia to simplify the process and ensuring that organizations choose the right configuration structure and location, while maintaining compliance to ensure future-proof operational growth.
The new real estate law and its risks
The structure of the Real Estate Brokerage Company and other companies with professional activities in Dubai requires that the company be incorporated as a sole establishment or civil enterprise, requiring a National Service Agent (NSA).
With a single establishment or a civil company, the liability of the company is not limited and the owners / partners have unlimited liability for the activities of the company, which presents a much higher risk to individuals. An LLC structure is preferable because it limits default liability within the business and creates a legal entity separate from the owners / partners.
There are ways to get a deferred limited liability structure for the real estate brokerage business and other professional activities in UAE.
One way to do this is to initially set up an LLC company in a foreign jurisdiction or UAE free zone, and then establish a foreign branch or free zone branch on the mainland, to get the real estate brokerage business. Responsibility for the branch would shift to the LLC, but the LLC would provide a limited liability structure at the secondary level to mitigate this risk.
The other option is to first create a continental LLC, in Dubai or Abu Dhabi with the activity “Investment in business enterprise and management”. This LLC can then set up a local branch in Dubai or Abu Dhabi with the real estate brokerage business. This will then effectively mitigate the risks associated with using the single establishment structure.
“The real estate market in Dubai has experienced significant growth and is a key industry in the United Arab Emirates. As more companies and foreign investors seek to relocate to the UAE, a greater majority of the population consists of different nationalities, with expats taking the opportunity to relocate and acquire assets in different regions. and different emirates, ”said Nazar Musa, CEO of PRO. Partner group.
PRO Partner Group offers security, transparency, speed, efficiency and local knowledge to international companies and investors wishing to establish themselves within the CCG. PRO Partner Group aims to constantly meet and exceed the expectations of customers, businesses and investors in the region.
About the PRO Partner Group:
PRO Partner Group is the leading provider of company formation, corporate governance and secretarial services in the United Arab Emirates, Oman, Qatar and Saudi Arabia. Our services cover all aspects of business creation, administrative services and ongoing support. These include corporate incorporation, regulatory and compliance services, visas, immigration and secretarial services. Our mission is to provide our customers with unparalleled service that places the highest priority on safety, transparency, efficiency and satisfaction. At PRO Partner Group, we take great pride in building strong and lasting relationships with our clients by removing the complexity of starting a business in a new country and ensuring that our clients are, at all times, fully informed and have access to the support necessary to ensure the continued success of their business
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