It is in fact possible to purchase a house in Dubai and get a free trade licence. Executive Residences in Dubai Hills Estate now offers home ownership with a business licence, aimed at entrepreneurs and small-medium enterprise owners.
Dubai-based developer Emaar has partnered with Dubai Multi Commodities Centre (DMMC) in launching approximately 200 units in an under-construction building in a masterfully-planned 2,700-acre multi-purpose development, Dubai Hills Estate.
Now, those who pay 20% of the apartment price will receive a free three-year renewable family residency visa, a free three-year renewable business licence – which is estimated to be worth AED 130,000 - and 100% business ownership. Additionally, the owner can apply for two employee visas with every trade licence.
For a one-bedroom apartment, the price is below AED 1 million while two-beds range from AED 1.2 million to AED 1.6 million. Situated in the city’s vibrant residential community, the building will be ready by 2021. Executive Residences helps buyers to achieve cost savings.
It’s an attractive offer, targeted at SMEs, who contribute 80 per cent of the economy, as well as all families with children, as parents have the option to spend more time with their young ones.
With the increase startup and entrepreneurs in Dubai, the latest launch is undoubtedly a game-changer in the UAE real estate industry. It’s more than the ‘work-live-play’ paradigm. It gives what every buyer wants for everyone needs and a new meaning to entrepreneurship in the UAE, as it provides them a chance to run a successful home-based business along with top-quality amenities.
Within Executive Residences, there’s more freedom to work flexible hours, improve work-life balance, less distractions and set up and run a business all that comfort of their home.
Previously, in order to get a trade licence, business owners had to hand in their office tenancy contract as proof. At Executive Residences, they can do so with their house Ejari certificate. This is a first in the market to run a home-based business legally.