Foreign Citizens are permitted to own 100% Property Brokerage Businesses in UAE

The UAE has always been on the frontier of taking on important matters that have a game-changing impact, ultimately benefiting their economic and corporate operations. The real estate sector’s commanding position in the country is set to continue, as property agents will now have full ownership of their firms in the UAE, after the withdrawal of this business activity from the “restricted list.”

The UAE, both at the federal level and in individual emirates, recently revealed the number of commercial activities in which foreign citizens can control 100% of a company and not have a UAE national partner holding a substantial share. However, property brokerage services were still classified as “restricted” and this has now been amended. The Dubai Land Department and RERA are in charge of overseeing all brokerage companies in the UAE, ensuring that rigorous transparency criteria are met.

The UAE property economy is witnessing signs of progress as people upgrade to bigger houses with outdoor amenities amid a remote working and learning trend triggered by the pandemic. The market was toned down due to a three-year oil price slump that began in 2014. Economic aid and government efforts, such as residency permits for seniors and distant workers, as well as the expansion of the 10-year golden visa programme, have also supported in improving the overall sentiment in the nation. Meanwhile, the UAE has also modified its investor visa criteria for property assets, allowing an owner of a Dh750,000 property to get a three-year visa. The previous threshold was Dh1 million for a period of two years.

This revitalizing move will have the greatest influence on Dubai’s real estate market, particularly at a time when buying and selling volume has been stocking up rapidly. As a result, there are bound to be a lot of intriguing discussions inside the realty sector in the coming days.

The real estate markets are always evolving during this challenging business climate, so hiring an expert team to stay up with the pace of change and advise you on many parts of the business are inevitable. To handle the varied requirements and financial risks that come with distinct industries, new techniques must be implemented.

For a long period of time, HLB HAMT has provided services to the real estate and construction industries, and our services are adapted to the needs of our clients. Our team of professionals certifies RERA-mandated regulatory standards and audits escrow accounts.

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HLB HAMT - Audit, Tax, Accounting and Business Advisory

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Varun R Chandra

07:38 25 Apr 21

HLB Hamt is highly recommended! They have the quality of services that would satisfy your needs. I'm glad I found them.

Giuseppe Assi

06:20 31 Jan 21

I HAD A GOOD EXPERIENCE WITH HLB HAMT DUBAI. THEY HAVE A VERY PROFESSIONAL TEAM, GOOD QUALITY OF SERVICES, GOOD VALUE... FOR PRICE.I RECOMMEND THIS COMPANY.read more

Mohamed Sheriff

16:16 28 Jun 20

Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more

218141 JOSEPH THOMAS

16:20 23 Jun 20

Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more

PMI

07:14 23 Jun 20

In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more

RAVI CHOKSI

08:28 21 Jun 20

Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more

Maharajan Subramaniam

18:17 06 Jun 20

High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more

Mohammed L

08:07 05 Jun 20

We have been working closely with them on payroll services for quite sometime.They provide very professional... services,experts in domain and excellent support. Would recommend them.Cheers.read more

ROY ROSHAN VIVIAN

06:32 04 Jun 20

Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more

Basil Daniells

05:55 03 Jun 20

I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more

Amar Kashyap

19:28 02 Jun 20

Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more

Radz de Jesus

16:03 02 Jun 20

We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more

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