# Setting up a real estate agency



## woodlands (Jan 13, 2010)

Mad as it may sound, i was wondering whether a real estate agency can be established in a free zone that can cater to Middle Eastern residents. Or a better route is to open it in say London and open a representative office here. I would not be willing to take a local partner hence wonder what the best route is, what are the costs and if someone here has done this earlier or knows someone who has done that.


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## Andy Capp (Oct 5, 2008)

Nope, Real Estate is not one of the permitted activities in a free zone. Sorry.


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## woodlands (Jan 13, 2010)

The properties are not Dubai based and i can draw the legal contract in any jurisdiction. So its essentially a service aka that likes of foxtons offer...any solution to the legal situation then?


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## marc (Mar 10, 2008)

In that case you could set up in a free zone depending on what you call the name of the company. 

I had a friend from Hong Kong who set up a business in Emirates Towers with DIFC license. 

they sold property in France, Australia. 

it is possible..


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## woodlands (Jan 13, 2010)

marc said:


> In that case you could set up in a free zone depending on what you call the name of the company.
> 
> I had a friend from Hong Kong who set up a business in Emirates Towers with DIFC license.
> 
> ...


DIFC is probably not the best idea for a start-up business but glad to know its possible. Essentially i need to be able to organize exhibitions etc in Dubai and rest of Gulf and wonder if there is an easier route to accomplishing this.


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## marc (Mar 10, 2008)

You don't need a license to do that? - exhibitors come from all over the world, and don't have a presence here or a visa / license?


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## hakeemdxb (Apr 19, 2010)

The best thing you can do is get yourself a brokerage license and it will do the job.


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## marc (Mar 10, 2008)

Why as a business owner would he want to just have a brokerage license? 

cant set up a normal Real Estate company in a free zone


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## hakeemdxb (Apr 19, 2010)

Real Estate can't be set up in freezones , If he would like to have a brokerage license , A local sponser is required . 

A broker in an individual licensed by the agency and registered in the broker's registry to carry out real estate activities in the emirate. The issued license allows broker to search for third parties and act as an agent to close deals and finalize a contract they receive a pre-specified fee for the services they provide to their clients.

You can then put forward the offshore properties.


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## marc (Mar 10, 2008)

Hence what I just said... 

He needs to be in a f r e e z o n e .


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