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How to Get a RERA License in Dubai
The dynamic real estate market in Dubai attracts professionals and entrepreneurs from around the globe. 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 guide you through the process of how to get a RERA license in Dubai, ensuring you adhere to the highest standards of professionalism and ethics in your real estate business.
How to Get a RERA License in Dubai
Step 1: Choose Your Business Activity and Legal Structure
Before applying for a RERA license, you must first determine the type of real estate activity you want to engage in, such as property sales, leasing, or property management. Next, choose an appropriate legal structure for your business, such as a limited liability company (LLC) or a branch of a foreign company. Keep in mind that if you opt for an LLC, you will need a local service agent for a Dubai mainland license.
Step 2: Reserve a Trade Name
If you want to secure an exclusive trade name for your real estate company, you must apply for a trade name reservation through the Department of Economic Development (DED). It is important to ensure that the trade name aligns with your business operations and meets the DED’s criteria for trade names. Non-compliance with UAE and Dubai regulations could lead to the rejection of the application, delaying the process. Choose UAE can help, contact us or use our cost calculator:
Step 3: Apply for the Initial Approval
Submit an application for initial approval to DED, providing details about your business activities, trade name, and legal structure. Your application will undergo a rigorous assessment by the DED to ensure it satisfies the regulatory criteria for real estate practitioners in Dubai and upon successful evaluation, you will receive an initial approval certificate.
Step 4: Complete the RERA Training Course and Exam
All real estate professionals in Dubai must complete a 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. Upon successful completion of the course and exam, you will receive a RERA certification.
Step 5: Obtain the RERA License
With the initial approval certificate and RERA certification in hand, submit your application for a RERA license to the Dubai Land Department (DLD). The application should include: The initial approval certificate. The RERA certification, a copy of the signed tenancy contract for your office space, copies of the shareholders’ and directors’ passports, a no-objection certificate (NOC) from the local service agent (if applicable).
Step 6: Pay the License Fees
After your RERA license application is approved, you will need to pay the licensing fees, which include the preliminary approval fee, trade name reservation fee, and license issuance fee. The total cost depends on the license duration and other factors. Following the acquisition of your RERA license, you must register your company with the Dubai Land Department also known as DLD to commence your real estate business operations.
Step 7: Set Up Your Office and Hire Employees
With your RERA license in hand, you can now set up your office space, purchase necessary furniture and equipment, and hire employees if needed. Remember to consider the costs of employee visas and mandatory health insurance.
Obtaining a RERA license in Dubai is a crucial step for professionals and entrepreneurs looking to venture into the thriving real estate industry. By following the outlined steps and adhering to the highest standards of professionalism and ethics, you can establish a successful real estate business in the vibrant city of Dubai.
How Can Choose UAE Help
Choose UAE is here to make your journey seamless and stress-free. Our team of experienced consultants is well-versed in the procedures and regulations related to obtaining a RERA license in Dubai. We can assist you in every stage of the process, from choosing the right business activity and legal structure to reserving a trade name and completing the RERA training course. Reach out to us today.