To work as a Real Estate Broker in Dubai, you need to obtain a Real Estate Brokerage license from the Dubai Land Department (DLD). Here are the general steps involved:
- Meet the Eligibility Criteria:
- Ensure you meet the eligibility requirements set by the DLD. Typically, this includes having relevant educational qualifications and experience in the real estate field.
- Establish a Company: If you plan to operate your brokerage as a company, you’ll need to establish a legal entity, get it registered, and fulfill all legal requirements for setting up a business in Dubai. The license can be made L.L.C. with 100% Foreign Ownership with no UAE National anymore.
- Pay Fees: There will be fees associated with obtaining the brokerage license as per the category mentioned in the RERA. Ensure you pay all necessary fees as required by the DLD and other relevant authorities.
- Get your Residency: The Investor/Partner must have a residency to fulfill all the relevant formalities in order to get the RERA Approval. In case, the investor/owner has already got the residency, then you may submit your visa copy.
- Register with RERA:
Once you’ve obtained the Trade License in DED, you can register the company with the Real Estate Regulatory Agency (RERA) which oversees real estate activities in Dubai. Register your details and credentials with RERA online portal. You may need to attend certain courses or exams as required to obtain a Real Estate Office Registration Certificate (ORN) Broker’s Card to officially do brokerage business. - Submit Documents: Prepare the necessary documents, which may include your educational certificates, identification papers, and any other documents as specified by the DLD.
- Pass the Exam: You might need to pass an exam with above 75% that covers various aspects of real estate laws, regulations, and practices in Dubai. The cost of the RERA exam is AED 784. The cost of obtaining the Broker’s Card is AED 520. Regarding obtaining the different advertisement’s or listing permits (monthly or yearly), cost varies and you may refer to the price list in the portal.
- Documents Required for RERA Registration:
- A Valid Trade License Copy,
- A Valid Passport, Residency & Emirates ID Copy of the Shareholder/Owner/Manager,
- Authorisation Letter to the Manager &
- One Passport Size of the Manager.