Complete Guide to Get a RERA License in Dubai for Agents and Brokers

You may feel that in the future, there will be fewer business opportunities as AI will take over many of them and may consider AI an impending threat to your business. But still, there are thousands of businesses that are still untouched and will be untouched and won’t get affected by AI. One of them is the real estate business. Agreed, right? The real estate sector will never be affected by AI or any other factors. As Dubai is one of the favorable countries chosen by many people for their residential as well as commercial businesses, the real estate business in Dubai is one of the best business ideas to launch. Well, you may also be aware of why Dubai is favorable to many. Because it has top-notch security systems, adherence to security protocols, and tight processes to launch a business and the rules and regulations laid out by the government. No matter which business idea you have, you have to follow a certain procedure and get a license from the government. Make My Firm, a leading business setup company, assists you with your company setup in Dubai and offers necessary help.

Now, let us help you with a complete guide about how you can get a RERA license to launch your real estate business.

Here, we want to share an interesting fact about the RERA license. If you’re thinking that the RERA license is only required for someone who wants to start their business, then you are wrong. Even if you are employed by someone or you are planning to freelance, a RERA license is required.

• Get a UAE Residence Permit: If you are someone living in Dubai, then you can skip this point. However, if you are not living in Dubai, then you must have a resident visa to apply for a RERA license to step into the real estate market. To get a UAE residence permit is a simpler task; you just have to apply through the GDRFA. This visa can be issued to entrepreneurs as well as someone who is employed by UAE businesses.
• Complete DREI Training: To obtain a RERA license, you have to pass an exam and get your certificate. You have to prepare yourself with study material and pass this exam. DREI is one of the renowned course providers.
• Apply for the RERA License: Once you get your DREI exam result and pass the exam, you can apply for the RERA license. You have to submit the necessary documents, such as personal identity documents, exam details, and results copy. Try to have all these documents with you so you can mitigate the delay factor.
• Apply for a Business Account: As you want to launch your business in Dubai, you can’t process your transactions with your personal account; you have to open a business account in a reputable bank. If you need any assistance to open your bank account, you can contact Make My Firm; we have expertise and will assist you in the right way.
• Get Approval: After following the entire process, you have to wait for your license approval. Also, note down one more thing: you have to renew this RERA license every year, as the validity of this license is only one year. We understand that you may get busy with all the work. For the same reason, you can hire a business setup company that will remind you in a timely manner and assist you with your work.

This is the step-by-step guide that assists you with obtaining your RERA license and becoming an agent or broker. As well as, you need to have a RERA license if you are thinking about freelancing or working with someone. At any step, your client might ask you about the license. So it is always a better option to be prepared. You can always rely on a business setup company in Dubai to help you with your company formation, license procedure, accounting, taxation, bookkeeping, branch office, etc.

As we have read through a complete guide about how to obtain a RERA license, let’s see how much it will cost to get a RERA license.

The cost of the RERA license may vary from time to time. However, if you want to obtain a RERA license, it costs AED 5020 per activity. As you have to pass an examination, you have to register for it first, and it costs somewhere between AED 750 to AED 1100. To get your broker identification, you have to spend around AED 1000. These costs are listed on the official website of the Dubai Land Department. We suggest you check before you apply for the license. Or else, contact a business setup company in Dubai and they will assist you.

As you apply for a RERA license, you have to submit the following documents.

• Personal identification documents such as a passport, an Emirates ID card, visa
• Passport-Size Photo
• Dubai Police Certificate
• RERA exam certificate

And if you are applying for a business license, then you have to submit the listed documents.

• Trade license
• Memorandum of Association
• Trade name registration
• Ejari
• NOC (for free zones)

If you need any assistance, you can call Make My Firm, a leading business setup consultant in Dubai, and we will surely help you.

Conclusion

Starting a real estate business comes with lots of hurdles, but with the right business setup consultants, you can make it an easier task as well as enjoy the journey of setting up a business. First things first, always obtain a license first, then launch your business. You can always rely on Make My Firm and can contact us at +971 52 673 9777. We are a leading business setup consultant in Dubai and can assist you with almost all of your business-related services. Reach out to us and we will make your business setup journey a smooth and seamless experience.