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Real Estate Public Auction Organizing

Description

​Includes firms engaged in organizing property public auction against commission, the process covers handling licensing formalities, fixing auction date and venue, promote the property in the media as regarding its particulars and sale terms and conditions, provide consultancy and evaluation by experts, handle payments arrangements and ownership transfer, remote auctioning when concerned parties are not present. 

Required Documents

Parties:

  • All Nationalities.
  1. Owners must be at least 21 years old
  2. Minimum of 2 years' experience in the Real Estate industry
  3. Bachelor degree certificate
  4. Expatriate partner or manager must be sponsored under this license.
  5. Certificate of good conduct from Dubai Police.
  • ​For setting up a branch of a foreign company:
  1. Copy of license or commercial registration.
  2. Parent company must be in business for at least 2 years
  3. Copy of the memorandum of the article of association
  4. Board resolution to open the branch and appoint the manager.
  5. The branch manager must fulfill the above mentioned conditions.
  6. Local services agent required
  7. Approval from ministry of economic to open branch.
  1. The main license activity must be similar to branch.
  2. Certificate of good conduct for manager from Dubai police.

Notes:

  • All documents should be notarized by the UAE Embassy overseas, Ministry of Foreign Affairs in Dubai and should be translated in to Arabic.
  • Must obtain approval from auction section in the land department in order to organize public auction.
Service Procedures
Service Fee

​AED 5000 per year​ ​+ AED 10 as knowledge surcharge​​

Service Branches

​Trakheesi System 

Related Services
Additional Information
Last updated 01/03/2019 10:15:42
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