The real estate market in Dubai holds immense potential for growth and profitability. The best way to benefit from the real estate market is to hold a real estate brokerage license in Dubai. For those interested in starting a real estate brokerage business, Dubai offers a great opportunity to join this growing industry.
The real estate brokerage license or broker card is a mandatory requirement, and it is difficult for entrepreneurs to acquire this without expert guidance. Therefore, in this article, we cover all the important information related to real estate license in Dubai, including the process of obtaining it, the associated costs, and the required documentation.
At Now Consultant, our company formation experts help you throughout the process of getting a real estate brokerage license in Dubai.
What Is a Real Estate Brokerage In Dubai:
A real estate brokerage in Dubai refers to a company or individual acting as an intermediary between a buyer and seller for property transactions. Brokers help clients buy, sell, or rent properties by providing local knowledge, property valuations, and market advice.
To start a real estate brokerage firm in Dubai, you need to comply with legal procedures mandated by the government, such as the Dubai Land Department (DLD) and the Real Estate Regulatory Agency (RERA). These include acquiring the necessary permits, registering the company, and paying applicable fees, among other documentation requirements.
How to Get a Real Estate Broker License In Dubai:
The following is the step-by-step process to get a real estate brokerage license in Dubai:
Step 1: Choose a Business Structure and Name
The first step involves deciding on your company structure, such as a Limited Liability Company (LLC) or Sole Establishment. Once the structure is decided, you need to select a unique and legally approved name for your brokerage, adhering to the naming rules set by the Dubai Department of Economic Development (DED).
In this step, Now Consultant assists you by choosing the most suitable business structure according to your needs.
Step 2: Obtain Initial Approvals
In the second step, you must apply to the DED for initial approval. This requires submitting essential details like shareholder information, proposed activities, and your company’s business plan.
Our experts simplify this step by preparing and submitting all the required documents for DED approval.
Step 3: Secure Space for Your Brokerage
To operate as a real estate broker in Dubai, you need a physical office space that complies with DLD and RERA standards. The office location and setup must meet specific legal and operational requirements.
Our experts help by identifying compliant office spaces and managing lease agreements, ensuring the office space meets all regulatory standards for smooth operations.
Step 4: Submit Documents And Get a License
In this step, all required documents (as listed below) must be submitted to the DED and DLD for review. Once approved, the DED will issue your trade license, officially allowing you to operate your brokerage.
Step 5: Register with RERA
It is mandatory to register with the Real Estate Regulatory Authority (RERA) for this license. Therefore, in the last step, you must also complete the RERA certification course to qualify as a licensed broker. This step ensures compliance with Dubai Land Department (DLD) regulations.
Real Estate Broker Card:
A real estate broker card is a professional license that allows agents to legally buy and sell properties.
Steps to Get a Real Estate Broker Card:
- Police Clearance Certificate
The first step is to obtain a police clearance certificate to confirm you have no criminal record. - Book and Take the Exam
- Schedule an online test for the broker card.
- Pass the exam to become eligible for the card.
- You are allowed two attempts to pass the test. If you fail both attempts, you will need to pay the exam fee again to retake it.
- Receive the Broker Card
After passing the exam, you will receive the brokerage card. - Register the Broker Card
The card must then be registered with your company to get accreditation from the land department.
Important Note:
- The brokerage card is valid for one year only.
- To renew the card each year, you must pass the renewal exam.
The cost of getting real estate brokerage license in AED 3200. This process ensures that brokers are qualified and compliant with industry regulations.
Cost of a Real Estate Brokerage License In Dubai:
The following are the costs involved in acquiring your real estate brokerage license in Dubai:
1. Trade License Fee
The cost of obtaining your brokerage trade license from the DED is between AED 10,000 and AED 15,000, although this may vary based on business size and structure.
2. RERA Certification Fees
To qualify as a certified broker, completing the RERA training course is mandatory. The certification program costs AED 3,200 to AED 4,000.
RERA Registration Certificate:
After receiving the trade license, you can apply for the RERA registration certificate. This document confirms the company’s registration with RERA and allows it to legally operate in the real estate sector. The fee is AED 1,200.
3. Office Rent
A valid brokerage requires a physical office. Industrial locations or business hubs set aside for brokers can cost between AED 40,000 and AED 80,000 annually, depending on office size and location.
4. Additional Fees
Additional fees can include name reservation (about AED 785) and initial approval fees (AED 870).
5. License Voucher Fee
The cost of a license voucher is approximately $18,000 to $20,000. This is an estimated range and can vary depending on the issuing authority.
6. Professional Services Fees
If you hire a consultant like us, the fees may vary, but it saves investment, makes the process easier, and avoid delays.
Documents Required for a Real Estate License
The following documents are required for a brokerage license in Dubai:
- Passport Copies: For all shareholders and partners.
- Visa Copies: Residency visas are available for partners, if applicable.
- Emirates ID: For UAE residents.
- Trade Name Reservation Certificate: Proof of approved business name.
- Memorandum of Association (MOA): Defining the company’s activities and shareholder agreements.
- Tenancy Contract: Proof of a valid office space.
- RERA Course Completion Certificate: Mandatory for the managing director or licensed broker.
- No Objection Certificate (NOC): If applicable, from sponsors or other authorities.
Extra Approvals for Real Estate:
To work in real estate, you need two documents from RERA:
- You need a RERA Registration Certificate.
- You need a Real Estate Broker Card.
How Can We Help You?
Dubai’s real estate market offers immense opportunities, but obtaining a real estate brokerage license can be challenging without the right expertise. At Now Consultant, we specialize in guiding you through every step of the licensing process to ensure a smooth and hassle-free experience.
Our expert team assists you with the following:
- Selecting the ideal business structure tailored to your needs.
- Securing your RERA certification efficiently.
- Manage all regulatory approvals and ensure compliance to prevent delays or fines.
- Gathering and preparing accurate documentation to mitigate risks.
- Optimizing the cost of establishing your real estate brokerage.
- Meeting office space requirements as per regulatory standards.
With our support, you can focus on building your business while we handle the complexities of the setup process, including obtaining your real estate brokerage license. Let us help you navigate Dubai’s real estate sector with confidence.
