Are you considering starting a real estate brokerage in Dubai? Dubai's booming real estate industry offers lucrative opportunities for entrepreneurs looking to tap into the city's thriving market. But before you start this project, you should be aware of the real estate license Dubai cost.

We will guide you through the procedure and offer insightful information on real estate license Dubai costs in this extensive guide.

Jump right in:

Understanding the Necessity of a Real Estate License Dubai
Steps to Start Brokerage Firms in Dubai
Real Estate License Cost in Dubai
How Can Water and Shark Assist You?
Frequently Asked Questions

Understanding the Necessity of a Real Estate License Dubai

Let's first discuss the significance of getting a real estate license in Dubai (i.e., RERA license Dubai) before getting into the pricing. The regulatory organisation in charge of overseeing Dubai's real estate market is the Real Estate Regulatory Agency (RERA). A RERA license is required in order to work as a real estate agent or broker.

By requiring real estate professionals to uphold the greatest standards of ethics and professionalism, this license protects investor confidence and preserves the integrity of the sector.

Steps to Start Brokerage Firms in Dubai

Starting a real estate brokerage in Dubai involves several steps. Let's take a closer look at each of these steps:

Step 1: Choose a Name

Selecting a name for your company is the first stage in launching a real estate agency. Verify if the name conforms to the Department of Economic Development's (DED) requirements.

Step 2: Get Initial Approval

Obtaining initial approval from the DED is crucial for starting your real estate brokerage. This approval involves submitting the necessary documents to the Tasheel service centre.

Step 3: Memorandum of Association

Create a Memorandum of Association (MOA) in accordance with UAE commercial law and DED protocols. It is essential to notarise the MOA to ensure its legality.

Step 4: RERA Certification

Real Estate Brokers Registration (RERA) certification is required in order to conduct business as a real estate broker. To earn this certification, you must get a broker ID, pass the qualification exam, and finish the RERA training course.

Step 5: Good Conduct Certificate

Obtain a Good Conduct Certificate from the Dubai Police, which is recognised by RERA. This certificate ensures that you have a clean criminal record, establishing trust with potential clients and investors.

Step 6: DLD Approval

Gain approval from the Dubai Land Department (DLD), the regulatory body responsible for overseeing real estate activities in Dubai. This approval is essential for operating as a licensed real estate brokerage.

Step 7: Office Space

Establishing a physical office space is a requirement for real estate brokerages in Dubai. Choose a suitable location and ensure that the office space complies with DED and RERA regulations.

Real Estate License Cost in Dubai

Now that we have outlined the steps involved in setting up a real estate brokerage let's dive into the cost breakdown:

RERA License Dubai Cost

To obtain a RERA license, you will need to pay the necessary fees. The exact cost varies depending on the type of license and the duration you choose. The fees range from AED 10,000 for a one-year license to AED 30,000 for a three-year license.

Trade Name Reservation Fee

Reserving a unique trade name for your real estate brokerage requires payment of a one-time fee to the DLD. This fee ensures that your trade name is exclusive and not already in use by another company in Dubai.

Office Rental Costs

Renting an office space is a significant expense when opening a real estate brokerage. The cost of office space varies depending on factors such as location, size, and facilities. It is important to choose a location that is convenient for clients and within your budget.

RERA Training Course and Exam Fee

As mentioned earlier, obtaining a RERA certification requires completing a training course and passing an exam. The cost of the training course can range from AED 3,500 to AED 6,500, depending on the training provider. Additionally, there may be fees associated with the exam.

Professional Consultancy Fees

If you require assistance throughout the process of opening your real estate brokerage, you may choose to work with a professional consultancy. Their fees will be an additional cost to consider, but they can provide valuable guidance and support.

Employee Visa and Insurance Costs

Should you want to staff your real estate firm, you will be responsible for paying for their required health insurance as well as their visas. Depending on the amount of employees and their responsibilities, these expenses may change.

Additional Costs to Consider

In addition to the above expenses, there may be other costs to consider, such as marketing and advertising expenses, office setup and maintenance costs, and ongoing operational expenses. It is essential to budget for these costs to ensure smooth operations and sustainable growth.

How Can Water and Shark Assist You?

Starting a real estate brokerage in Dubai is not easy. But at Water and Shark, we understand your problems. We offer comprehensive support and guidance from start to finish. The different services we offer include formulating business plans and feasibility studies, investment advice, forecasting macroeconomic risks, and assisting in selecting suitable investment projects. We will guide you through the licensing procedures, reduce your expenses, and assist you in complying with regulations.

Starting real estate brokerage firms in Dubai needs to be well thought through, financially ready, and compliant with regulations. By learning the real estate license Dubai cost and seeking out help from experts, a business can be established in one of the most active markets.

If you would like to learn more about our services and how we can guide you through opening a real estate brokerage company in Dubai, contact Water & Shark today.

Frequently Asked Questions

1. Can I register a real estate brokerage as a foreign investor in Dubai?

Yes, foreign investors can register a real estate brokerage in Dubai.

2. What is the timeline for obtaining a RERA license in Dubai?

The timeline for obtaining a RERA license can vary. It typically takes 3-4 weeks to complete all the necessary steps and obtain the required approvals.

3. Are there any recurring costs or taxes related to running a brokerage for real estate in Dubai?

Indeed, running a real estate agency in Dubai could entail regular fees and taxes. These could include taxes on profits, office rental fees, and annual license renewal costs.

4. Can I offer real estate services outside of Dubai with a RERA license?

A RERA license allows you to operate as a real estate broker within Dubai. If you wish to offer services outside of Dubai, you may need to obtain additional licenses or comply with the regulations of the respective emirate.