What is the RERA in Dubai Real Estate – How to Obtain RERA?

The Dubai property market is absolutely booming! In the first half of 2022, a whopping AED 115 billion worth of property was sold in 43,200 transactions. It’s a real estate goldmine, with sales volume increasing by 60% and sales value skyrocketing by an incredible 87.8%.

But how can you make sure you’re part of this incredible growth? Well, the secret to success is getting a RERA (Real Estate Regulatory Agency) license. And we’re here to help! Kelt&co is your trusted partner on this exciting journey, guiding you confidently into the world of Dubai real estate. Let’s get into this guide to figure out your path to a RERA license. 

What Is RERA In Dubai?

RERA, short for the Real Estate Regulatory Agency, was founded in 2007 by His Highness Sheikh Mohammed bin Rashid Al Maktoum. The agency serves as the regulatory body in charge of overseeing the real estate sector in Dubai.

The primary objective of RERA is to establish a legal framework that promotes fairness and effectiveness for all stakeholders in the real estate industry. RERA also enforces industry regulations.

RERA covers a wide range of businesses, including real estate consultancies, brokerages, leasing companies, mortgage consultancies, and others. Additionally, the agency plays a critical role in RERA regulating rental agreements, advertising, and real estate exhibitions.

Responsibilities Under RERA In Dubai

So, why is getting a RERA license so important? Well, RERA has a ton of responsibilities, including: 

• Licensing all real estate businesses and organizations, making sure that real estate agents are properly licensed, 
• Regulating rental agreements, advertising, and real estate exhibitions, 
• Conducting sector studies and reports, 
• Promoting the real estate sector, 
• Keeping businesses and private individuals informed about regulatory changes in the real estate sector.

How to Get a RERA License in Dubai? Step-by-step Guide

Obtaining a RERA license is mandatory if you’re planning to join the real estate industry in Dubai. Here’s what you need to know about the process of getting one:

Firstly, if you’re not a UAE national, you must obtain a valid residency visa and Emirates ID in compliance with the country’s immigration and visa regulations. Additionally, you must register your company name in accordance with UAE naming rules, using descriptions that accurately represent your company’s activities and avoiding offensive terms.

Secondly, completing RERA-approved Certified Training for Real Estate Brokers at the Dubai Real Estate Institute (DREI) is essential.

Thirdly, after completing your training, you’ll need to pass the RERA registration exam, the cost of which varies depending on your educational qualifications. The exam costs approximately AED 3200 for applicants with a bachelor’s degree and AED 6300 for applicants without one.

Fourthly, once you’ve passed the exam, you can apply for your real estate agent license in Dubai. The establishment of your real estate brokerage must be approved by the Dubai Land Department (DLD). You must also submit a Certificate of Good Conduct and all required documentation.

Finally, remember that your RERA license is only valid for one year and must be renewed regularly.

Documents Required for Your RERA License

You will need to gather several documents to expedite your RERA license application. These documents include:

• Residency visa copy, passport copy, or Emirates ID card.
• Passport-sized photographs.
• Proof of completed RERA-certified training and the RERA exam.
• Realtor license copy.
• A good conduct certificate from Dubai police (if required).
• NOC from your free zone authority (if your business is based in a free zone).
• Get a Memorandum of understanding signed by all shareholders (if applicable).

Cost of obtaining a Dubai RERA

Your real estate activities’ nature determines the cost of obtaining a Dubai RERA certificate. While most activities have an annual fee of AED 5,000, some may have higher charges. Additionally, your license type includes knowledge and innovation fees, which are AED 10.

Why Choose Kelt&Co for Your Real Estate Business

Ready to take on the Dubai real estate world but need help figuring out where to start? Look no further than  KElt&Co.! Our digital free zone makes getting your license and bank account a breeze so that you can dive right into the market.

With advanced technical support and 24/7 access, we’ve got you covered every step of the way. And with 0% tax and 100% foreign ownership, you’ll be free to achieve your dreams without limitations.

Let Kelt&Co be your solution partner and guide you through the RERA license process. Together, we’ll unlock the endless potential and prosperity of Dubai’s booming property market. Take advantage of the opportunities waiting for you – join with Kelt&Co today!

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