Dubai has been listed as the top travel destination of tourists in 2023 according to Tripadvisor, which is
an American company that provides online travel guidance on their website. From January to
September, about 12.40 million people visited Dubai, some of these came to travel and explore Dubai, while others came on visit visas
to find work in the UAE. The latter category belongs to developing countries, former category belongs to
people who are rich.
Despite their financial background, both need accommodation during their stay in Dubai as per their
capacity. People who seek work can’t afford to waste money so they rely on cheap accommodation,
while tourists want accommodation rich in views and location.
If you are planning to invest big chunks of your money in UAE, you can start renting out properties to
people by following means.
1.Renting out Bed space or partition
You can rent out your apartment by making multiple partitions and bed spaces. If you are living in a
rented apartment you will need the permission of your landlord before renting it out to others.
Otherwise, you will be charged with illegal practice according to the law of Dubai.
You can purchase your own apartment in four installments of payment in a year. After paying your first
installment you can get a trade license from Dubai Department of Economic Development (DED) to
officially start your property rental business.
People who are on a visit visa will look for this accommodation because they can’t afford to get a whole
apartment or studio on rent.
You can cover your next installments with the rents coming in, you can expand your business if you find
this investment suitable for your temper.
2.Home Renting on Airbnb for tourists
Registering your property on Airbnb is one of the best options if you have a handsome investment in the
form of a luxurious apartment. The more you provide luxurious and good customer services more are
your chances to stand out in this business.
People who come to Dubai to travel look for temporary accommodation near luxurious views of Dubai
like downtown; where lies the world’s tallest building and largest shopping mall. Only those properties
stand out on Airbnb which are near metro stations, have excellent facilities in the apartment, and are in
in-demand location.
Before starting this business you will need to register your property/apartment on Airbnb through the
Dubai Tourism Holiday Homes Operator system. Now it is legal to start your business, however, there
are still many official procedures to do before renting out;
You have to provide your passport and pictures along with an application in front of the
Department of Economic Development. It must contain thorough details about your business
type, name, and activity.
You will need an investment or residence visa to start a property rental business
You will also need permission from the Department of Tourism and Commerce Marketing along
with a trade license before you are officially into this business
If you find all the legal work tiresome, hit the link and land on our website moveto.uae.com to get all the details about our company whose purpose is to provide visas
and set up businesses in the UAE for you.