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Cheap apartments in Dubai?

Can someone elaborate how exactly the process of renting flat for 1 year in Dubai works?
You need to be resident (have Emirates ID).

Find what you like, sign a contract, write checks (usually 1,2 or 4 checks) and check for security deposit.

With the contract you go and get it registered and get an Ejari and also switch DEWA into your name (water/electricity) and another 2.500 AED deposit.

That's about it.
 
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You need to be resident (have Emirates ID).
you only get that if you have a company duly registered in the UAE right ?