If you have good communication skills and desire to work hard to create a good reputation, then real estate brokerage can give you a decent amount of money as commission. You will be working with expensive properties in the region and people who are searching for their dream homes. Which will help you to build a client portfolio of multicultural clients in Dubai.
Definitely, It is not an easy task to become a real estate agent in Dubai. You need to get a real estate broker license to operate legally in the UAE. The process involves a lot of documentation and approvals from various government ministries additionally you need to pass an exam conducted by DREI.
How to choose the right legal structure
A real estate brokerage firm in Dubai can choose either the sole establishment or Limited Liability Company (LLC) legal structure. If there is only one owner for the business, then the legal structure of the firm should be sole establishment. If the number of shareholders is exceeding 2, the legal structure of the firm should be LLC and you need a local service agent to establish the company. An LLC real estate brokerage firm allows up to 50 shareholders. The real estate brokerage firm can only be formed in mainland jurisdiction.
Step by step process to get your real estate broker license in Dubai
The application for a real estate broker license must be submitted through the Department of Economic Development and then get approval from RERA through Trakheesi System.
Step 1: Trade name reservation
Step 2: Initial approval enquiry receipt
Step 3: Submit relevant documents to the land department, complete online course registration
Step 4: Obtain NOC/approval from RERA once training is done.
Step 5: Obtain an initial approval certificate from DED
Step 6: Signing of Memorandum of Association/Local Service Agent Agreement/Civil Works Agreement at the Notary Public. Please note that all shareholders need to present at the time of signing.
Step 7: Submit the initial approval, original approved DED form, trade name reservation, tenancy contract with Ejari, and all the documents mentioned above to DED and obtain a payment voucher.
Step 8: Collect payment voucher & make payment
Step 9: Obtain trade license
Step 10: Obtain office registration number and broker ID
Real Estate Broker License Requirements in Dubai
Requirements at DED
- Owner’s passport copy, Emirates Id card, Family Book (if applicable)
- Passport-sized photographs with white background
- Tenancy Contract and EJARI Certificate
- Memorandum of Association (if applicable)
- External Approval from RERA
Requirements at RERA
- DED Application Form
- Trade Name Reservation
- Initial Approval Enquiry Receipt
- Owner’s passport copy, Emirates Id card, Family Book
- Certificate of good conduct from Dubai Police
- Degree Certificate of the owners
- Real Estate Practitioner Course Certificate / Real Estate Diploma
Have any questions on how to set up a real estate brokerage firm in Dubai?
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