Meydan Free Zone offers a strategic platform to establish a real estate business in Dubai. With a streamlined process, investor-friendly regulations and access to the growing market, the free zone helps businesses to operate efficiently. Navigating the registration process, licensing requirements and regulatory procedures allows stakeholders to start a real estate business in Meydan Free Zone hassle-free.
Process to Start a Real Estate Business in Meydan Free Zone
The Meydan Free Zone real estate business setup starts from AED 12,500 and covers various activities, including property ownership and operation, management and advisory services and real estate agency. The key steps to start a real estate company in Meydan Free Zone include:
- Step 1: Select the real estate business activity permitted under the Meydan Free Zone licence category.
- Step 2: Choose a suitable free zone licence package based on the business requirements.
- Step 3: Submit a business name that complies with UAE naming regulations and is available for registration.
- Step 4: Prepare the required documents (MoA, trade license and share certificate) for the application process.
- Step 5: Log in to the Meydan Free Zone portal, complete the application and upload the required documents.
- Step 6: Pay the applicable fee to proceed with the licence process.
- Step 7: Once approved, receive the business licence digitally and begin operations in Meydan Free Zone.
After obtaining the licence, businesses can apply for additional services such as an establishment card, investor visa, biometrics and other required documents. For real estate brokerage activities, the businesses must comply with the requirements set by the Real Estate Regulatory Agency (RERA).
Cost of Starting a Real Estate Business in Meydan Free Zone
The cost of starting a real estate business in Meydan Free Zone is as follows:
- Licence Fee: The Meydan licence package starts from AED 12,500 for a no-visa licence, AED 14,350 for a one-visa licence and AED 18,050 for a three-visa licence.
- Visa Allocation and Residency: Additional visa allocation and residency costs range from AED 3,750 to AED 5,500.
Disclaimer: The costs may vary based on the selected package, requirements and applicable charges. Confirm the final fees during the application process.
Meydan Free Zone Real Estate Business Activities
Meydan is among the free zones in Dubai that offer a wide range of real estate business activities. These activities are broadly classified into two main categories: businesses operating their own or leased properties and companies providing real estate services.
Real Estate Activities With Own or Leased Property
This category covers businesses involved in buying, leasing, selling or operating self-owned or leased real estate assets. The activities under this category can include:
- Development: Covers businesses involved in the development of different types of properties such as apartments, commercial buildings and others.
- Property Leasing: Covers businesses engaged in leasing and managing self-owned properties.
- Buying and Selling: Includes businesses involved in selling and buying properties in Meydan and other areas.
Real Estate Activities on Fee or Contract Basis
This category includes businesses that provide real estate-related services to clients in exchange for a fee or contractual payment. It covers service-based activities such as:
- Agency and Brokerage: Covers businesses operating as real estate agencies and providing brokerage services.
- Consultancy: Includes businesses providing real estate consultation services.
- Management Service: Covers businesses offering property management services like maintenance, security and other services.
- Valuation Service: Covers professional property valuation services.
- Mortgage Consultancy and Brokerage: Includes businesses providing consultancy services related to property financing, mortgage processes and refinancing options.
- Inspection Service: Involves professional property inspection services.
FAQs
What business activities are permitted under a real estate licence in Meydan Free Zone?
Meydan Free Zone permits various real estate activities, including property development, buying and selling, consultancy, valuation, inspection, brokerage, property management, setting up real estate agencies and other related services.
What is included in a Meydan Free Zone real estate licence package?
A Meydan Free Zone real estate licence package includes the LLC-FZ licence, three business activity groups, a lease agreement, a flexi-desk facility and visa allocations, depending on the chosen package.
Can foreign investors own 100% of a real estate business in the Meydan Free Zone?
Yes, foreign investors can establish and fully own a real estate business in Meydan Free Zone, subject to meeting the applicable licensing requirements and regulations.
Is there a payment plan available for the Meydan Free Zone real estate licence fee?
Yes, UAE-based applicants may be eligible to spread the licence fee through the Easy Payment Plan using a participating bank’s credit card. Eligibility and payment terms can be confirmed with a Meydan Free Zone setup advisor during the application process.
This is how to start a real estate business in the Meydan Free Zone. With a streamlined setup process, clear regulations and multiple business activities, Meydan Free Zone enables businesses to establish and operate their real estate ventures efficiently. Additionally, setting up a business in the free zone provides access to the emirate’s growing real estate market, creating opportunities for businesses to rent or buy properties in Dubai and earn potential returns.
Stay tuned to dubizzle’s property blog for more information on Dubai free zone business setups.
