The real estate industry in Dubai is one of the most regulated in the world. In terms of rules, real estate professionals must be licensed in order to conduct business in the property market. For real estate professionals seeking a licence in Dubai, the Dubai Land Department’s (DLD) online portal makes registration easier.
The credibility of property brokers, managers, or consultants in Dubai is ensured by a real estate licence. Let’s learn the entire procedure for getting a real estate licence and continuing a professional career in Dubai’s real estate industry.
REAL ESTATE ACTIVITIES IN DUBAI: APPLYING FOR A LICENCE
Dubai’s real estate sector is doing well. It offers buyers, sellers, and investors lucrative opportunities. Even so, real estate agents, consultancies, and brokerage companies can gain from the Dubai property market.
Yet, establishing a property company needs a DLD license. In order to practice their trade, the following property consultants and agencies in Dubai must apply for a real estate licence:
- Mortgage Consultancy
- Real Estate Consultancy
- Real Estate Development
- Buying & selling Brokerage
- Leasing Brokerage
- Registration Trustee
- Services Trustee
- Promotion Trustee
- Public Auction Organising
- Exhibition Organising
- Jointly Owned Property Management Services
- Real Estate Management Supervision Services
- Real Estate Valuation Profession licensing
- Property Inspection services
- Real Estate Survey Services
- Self-owned Property Leasing and Management Services
- Leasing and Management of Other People’s Property
- Real Estate Service Centre
- Mortgage broker
- Real Estate Representative Office
These are all of the requirements for getting a real estate license in Dubai and working in the property industry.
TERMS AND CONDITIONS OF SERVICE
Due to the fact that real estate licences are given to various companies operating in the property market, each of these companies must meet certain requirements in order to receive a real estate licence in Dubai. Below are the service agreements for the following real estate companies. Obtaining a licence can assist real estate agents gain reputation.
- Persons seeking real estate development licences, organizing property exhibits, buying and selling lands and properties, real estate representative offices, and leasing and managing private real estate services must fulfill the following requirements:
- Apply for a license through Dubai’s Department of Economy and Tourism.
- Sign up for the Trakheesi system.
- Once the real estate licence application has been filed and accepted, you can apply for a professional real estate activity practice card.
- To receive a free-zone licence, follow these instructions:
- The licensing authorities must provide a letter of no objection to the real estate business.
- To receive a licence, real estate developers in Dubai must satisfy the following requirements:
- Give the land’s title deed.
- The licence holder or one of the partners’ names must appear on the title deed.
- The electronic technology is used to verify the data on the title deed.
- A real estate company needs the following if they wish to publicize the project, organize an exhibition, or publish a property ad.
- A Dubai real estate advertising permit issued through the Trakheesi system
- The following documents are required for real estate registration trustees, service trustees, promotion trustees, and real estate service centers:
- DLD and the licence holder have reached an agreement.
- They will demand the following for jointly held property management companies and administrative supervisors:
- Property management companies in Dubai must be licensed.
- Its real estate agents are registered with the Real Estate Regulation Agency (RERA)
- Before engaging in real estate transactions in Dubai, employees must get activity practice permits.
- They will require the following to rent and manage private real estate services companies:
- A copy of the property title deed
- The licence holder or one of the partners must have the title of ownership.
- According to DLD legislation, second-degree associates are permitted to manage an owner’s real estate.
- Companies that provide leasing and property management services to third parties must comply with the following conditions:
- A 5 million AED bank guarantee
- When creating a branch for the license, the branch’s trade name must be the same as the parent company’s licence.
- There should be at least 20 administrative employees.
The processes outlined above will assist in the establishment of a real estate company. Obtaining a license and practice card is also a need for becoming a real estate agent in Dubai.
DOCUMENTS REQUIRED
Real estate companies do not require any documentation to be included to the license application. They must register and fill out the necessary information on the Trakheesi system. A no-objection certificate from the DLD is required, nevertheless, for enterprises asking for a freehold area development licence.
FEES
To receive a licence and begin operating in the property market, various real estate businesses must pay the following fees. The fees for obtaining a real estate licence in Dubai for various real estate operations are shown below.
- AED 5,000 per year for each of the following activities separately:
- Mortgage consultancy
- Real estate consultancy
- Buying & selling brokerage
- Real estate leasing brokerage
- Real estate public auction organising
- Management supervision services
- Real estate survey services
- Self-owned property leasing and management services
- Buying and selling owned properties
- Real estate services trustee
- Real estate representative office
- Mortgage broker
- Real estate promotion trustee
- Property inspection services
- Real estate service centre
- AED 10,000 must be paid individually each year for the following activities:
- Real estate exhibition organising
- Owner association management services
- Real estate valuation profession licensing
- Business owners that provide third-party property leasing and management must pay AED 15,000 per year.
- Real estate development enterprises must pay AED 25,000 per year.
- Real estate registration trustees must pay AED 100,000 annually.
The companies must also pay AED 10 for innovation and AED 10 for knowledge fees in addition to these expenses.
PAYMENT METHOD
To submit the needed payments, candidates can utilize the following payment gateways:
- Debit or credit card
- Noqodi
- e-Dirham
The overall process for getting a real estate licence in Dubai is now complete. Real estate companies in Dubai that manage, sell, or buy properties must be licensed. Furthermore, employing a real estate agent has several advantages since they save you time with their experience and have a larger network to narrow down your home search.
