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Guide to RERA License Dubai Cost
The real estate industry in Dubai is booming, making it an attractive destination for entrepreneurs and professionals looking to establish a foothold in the sector. To operate as a real estate agent, broker, or property consultant in Dubai, it is essential to obtain a Real Estate Regulatory Agency (RERA) license. In this blog, Choose UAE will discuss the RERA license in Dubai cost.
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What is RERA License
A RERA license is a mandatory requirement for real estate professionals in Dubai, ensuring that they adhere to the highest standards of professionalism and ethics in their operations. The Real Estate Regulatory Agency, a part of the Dubai Land Department (DLD), is responsible for issuing these licenses and regulating the real estate industry in the emirate.
RERA License in Dubai Cost
The cost of obtaining a RERA license in Dubai can vary depending on various factors, such as the type of license, location, and additional fees. Here is a breakdown of the costs involved:
Initial Approval Fee
The initial approval fee is the amount you pay to the Dubai Land Department (DLD) when applying for a RERA license. This fee covers the assessment of your application and ensures that your proposed business activities meet the regulatory standards for real estate professionals in Dubai.
Trade Name Reservation Fee
The trade name reservation fee is a one-time cost you pay to reserve your chosen trade name for your real estate business. This fee is payable to the DLD, and it ensures that your trade name is unique and not already in use by another company in the emirate.
License Issuance Fee
The license issuance fee is the amount you pay to the DLD for the issuance of your RERA license. The fee depends on the duration of the license you choose, with a license starting at AED 10,000. Opting for a longer license duration can save you time and effort in renewing your license annually.
Office Rental Costs
Office rental costs will vary depending on the location, size, and facilities of the office space you choose for your real estate business. These costs are not directly payable to the DLD but are an essential aspect of obtaining a RERA license, as having a physical office space is a requirement for real estate professionals in Dubai. Rental costs can range from affordable to premium, depending on your preferences and budget.
Additional Costs to Consider
While the above fees cover the primary costs associated with obtaining a RERA license, there may be additional costs to consider, such as:
RERA Training Course and Exam Fee: All real estate professionals are required to complete the mandatory RERA training course and pass the qualification exam. The cost of this course can vary depending on the training provider but generally ranges from AED 3,500 to AED 6,500.
Professional Consultancy Fees: If you choose to work with a professional consultancy to assist you in obtaining your RERA license, their fees will be an additional cost to consider.
Employee Visa and Insurance Costs: If you plan to hire employees for your real estate business as you will need to cover the costs of their visas and mandatory health insurance.
Office Setup and Maintenance Costs: Setting up your office space, including purchasing furniture and equipment, as well as ongoing maintenance costs, should be factored into your overall budget.
Please note that these fees are subject to change, and it is advisable to seek assistance from a professional consultancy. Contact Choose UAE or use our cost calculator:
Conclusion
Obtaining a RERA license in Dubai is an essential step to tap into the lucrative real estate market of the city. While the costs associated with getting a license might seem overwhelming at first, the potential returns on your investment can be significant, making it a worthwhile endeavor.
How Can Choose UAE Help
Choose UAE can play a vital role in assisting you through the RERA licensing process. Our team of experienced professionals is well-versed in the intricacies of Dubai’s real estate regulations and can provide comprehensive guidance on the costs involved and the steps required to obtain a RERA license. We offer tailored solutions to cater to your unique business needs, ensuring a smooth and hassle-free licensing process. Let Choose UAE be your trusted partner in navigating the complexities of obtaining a RERA license, contact us.
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