# Opening a business in Dubai



## Pimpin80 (Jul 29, 2008)

Quick question for you guys!

I'm moving to Dubai in January (from Canada) and was planning to look for a job as a real estate broker. I got an offer from someone with capital to open up a brokerage in Dubai, and since the market is down right now, I figured I could get to keep the commissions I make and build the foundations of that company for when the market comes back to life. How hard is it to set up down there? I've heard of the free zones, but I don't think I can open a real estate firm there. Any other possibilities? I don't wanna have to hand over 51% of my company to someone just to have their name on the registration...

If anyone could enlighten me on the procedures and possibilities I would appreciate!

Thanx a bunch,

Khaled


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## sgilli3 (Mar 23, 2008)

This is a great place to start- they can help with setting up a business and answering questions.

Links Dubai


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## Pimpin80 (Jul 29, 2008)

thanks for the info! At this point I'm not even sure if it would be a smart thing to move over, considering the state of the economy and the field in which i intend to work, which is the field that's been hit the hardest.


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## Elphaba (Jan 24, 2008)

Many estate agents are being laid off right now and those who still have a job are struggling as few properties are being sold. We are going through a major 'correction' so unless you don't need to make any money for quite some time, this is not the time or place to set up a brokerage.

Unless you have a freezone company (and you don't actually have to trade in the freezone in most cases) you must have a local sponsor. There are varying costs for different types of businesses and a real estate licence is one of the more expensive ones.

Your best bet is to get a copy of Dubai Explorer as that will guide you through the steps for setting up a new business.

-


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## Pimpin80 (Jul 29, 2008)

Elphaba said:


> Many estate agents are being laid off right now and those who still have a job are struggling as few properties are being sold. We are going through a major 'correction' so unless you don't need to make any money for quite some time, this is not the time or place to set up a brokerage.
> 
> Unless you have a freezone company (and you don't actually have to trade in the freezone in most cases) you must have a local sponsor. There are varying costs for different types of businesses and a real estate licence is one of the more expensive ones.
> 
> ...


I totally understand the point you are making, I just don't want to end up having to work in a hotel when I get in Dubai. When I made my plans to move down there, the world economic situation was quite different from what it is now. I'm kinda stuck in a dilemma here, I just can't figure out what I need to do. Arggggghhhh! One thing is for sure, I'm taking the plunge, and we'll see once I'm on site!


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## Guest (Nov 30, 2008)

Pimpin80 said:


> I don't wanna have to hand over 51% of my company to someone just to have their name on the registration...


You are in their world! That's only applicable outside of FreeZone areas...

If you want to be independant you gotta start off in FreeZone areas.

Check this out: Uaefreezones.com - Free Zone company formation, UAE offshore registration, UAE Real Estate, UAE FreeZones Directory

-Joey


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