Dubai is the jewel in the crown of commercial properties and business incubation. Entrepreneurs and business owners always have a preference in setting up a business in Dubai which has the most sensational economic status and flexible laws for foreigners to build a business or buy any commercial properties without many complexities.
If you are an entrepreneur searching for the right opportunity and location to buy properties in Dubai, then this blog gives you exciting tips and recommendations that help you buy the property or start a business in Dubai. Dubai never meets paucity in availing new commercial properties for sale or rent. It is famous for its capability to build a grant empire out of minimum or even zero possibility.
Factors to consider while buying commercial properties in Dubai:
- Legal Documents
- LLC Agreement
- Governmental forms
- Name reservation Certificate
- Choosing a convenient Contract
- Market research on location for better ROI
- Real estate agent
Now, the current market value of Dubai is very favorable for an ex-pat business owner to gain the expected ROI on setting up a new business or developing an existing business. If Expat business owners decide to stay for at least 10 years can confidently buy a property in Dubai to enjoy the unimaginable return on Investment.
How to buy a Commercial Property in Dubai
Business Owners should be proactive and ready to face some upfront costs when buying a commercial property. The upfront cost includes,
- Value of the Property
- Need to pay a 4% transfer fee to the Dubai Land Department
- VAT – Value added Tax
- Registration Fee + VAT (expected to be around AED 4000+)
- Brokerage Cost for a real estate agent
Owning of Commercial Property
According to property law in Dubai, every freehold commercial property must title under the company name. You can occur vast benefits like safeguarding investment, security, privacy, & 100% foreign ownership by registering your commercial property in the name of the company.
Choosing Right Real Estate Agent & Location is Crucial
Undoubtfully you will attain expected or above ROI on all the commercial properties that you purchase in Dubai. Whereas, there are also other important factors to consider that augment your business growth. For a successful business, it is important to stay close to its target audience as much as possible and in the prime location that suits your business niche. Hence, whenever looking for a commercial property to rent or buy, you should do prior market research and accessibility routes that are suitable for your business goal.
Real Estate Agent
Normally real estate agent plays a vital role in performing business deals and impacting our buying decisions. Being a huge business hub, Dubai has more legitimate real estate property developers, but still, there will also be some fraudulent agents existing to reap a handsome profit from the investors who are not aware of the property details and its current market value. So, when choosing a real estate agent in Dubai to buy a commercial or residential property, approach the best real estate business listing site to get updated info about all new and existing properties.
- How to choose the right commercial property in Dubai - September 22, 2023