How much is the RERA license in Dubai?
The RERA license is a mandatory requirement for any real estate professional or company operating in Dubai. It is issued by the Real Estate Regulatory Agency (RERA), which is responsible for regulating and overseeing the real estate sector in the emirate.
What is a RERA license?
A RERA license is a legal document that authorizes individuals and companies to engage in various real estate activities in Dubai. These activities include buying, selling, renting, and managing properties. Without a valid RERA license, it is illegal to operate in the real estate sector in Dubai.
Types of RERA licenses
RERA offers different types of licenses depending on the nature of the real estate activity. The main types of RERA licenses are:
1. Brokerage license
A brokerage license allows individuals and companies to act as intermediaries between buyers and sellers or landlords and tenants. It enables them to facilitate real estate transactions and earn commissions.
2. Developer license
A developer license is required for companies that plan to develop and sell properties in Dubai. It gives them the legal authority to construct, market, and sell real estate projects.
3. Real estate agent license
A real estate agent license is issued to individuals who work under a brokerage firm and assist in property sales and rental transactions. They represent the brokerage firm and help clients in finding suitable properties.
4. Property management license
A property management license is necessary for companies that provide property management services such as lease management, maintenance, tenant screening, and financial reporting.
Cost of a RERA license
The cost of obtaining a RERA license in Dubai varies depending on the type of license and the specific requirements. Here is a general idea of the costs involved:
- Brokerage license: A brokerage license can cost anywhere between AED 25,000 to AED 35,000.
- Developer license: The cost of a developer license depends on the scale and nature of the project. It can range from AED 50,000 to several million dirhams.
- Real estate agent license: A real estate agent license usually costs around AED 10,000 to AED 15,000.
- Property management license: The cost of a property management license is approximately AED 15,000 to AED 20,000.
It’s important to note that these costs are approximate and may vary depending on factors such as the license renewal period and any additional fees or requirements imposed by RERA.
The RERA license is an essential requirement for anyone involved in the real estate sector in Dubai. It ensures that real estate professionals and companies operate within the legal framework and adhere to the regulations set by the authorities. The cost of a RERA license varies depending on the type of license, and individuals or companies should carefully consider the specific requirements and associated expenses before applying for one.