The Practice of a Property Consultant in Dubai
In recent developments at the RERA, licenses are being issued to about twenty categories of real estate professionals including that for a real estate consultant in Dubai.
Local, non-local, and expatriates are eligible to apply for and practice as a property consultant provided they fulfill the eligibility laid down by the RERA and obtain the relevant license.
The practice of a real property consultant alls under Activity No.
741404 of the government and the license type is that for a professional.
Property consultancy is defined as an activity that includes running offices that offer property consultancy for money.
Such consultancy is recognized as relevant to data, information and prices of all types of properties.
The services of a real property consultant is distinct from that of a registered broker and do not include facilitating contacts between parties or engaging directly in selling and buying procedures.
Eligibility Requirements for a Real Property Consultant in Dubai The following are the requirements that need to be met by UAE or GCC nationals in order to obtain the license of a real property consultant: Bachelor's Degree in Business Administration, or Finance Certificate of Real Estate practitioner course Minimum 3 years experience in the property field The following are the requirements for expatriates to obtain a license for practicing as a property consultant: Bachelor's Degree in Business Administration, Property, or Finance Certificate of Real Estate practitioner course Minimum 5 years of experience in the field of property Must be sponsored under this license Eligibility Requirements for Branch of a Foreign Company The eligibility requirements for the branch of a foreign company to obtain the license for a real property consultant are as follows: Copy of the license or copy of commercial registration Parent company must be in business for at least two years Copy of the memorandum and/or article of association of the company Authorization letter from parent company to open branch office in Dubai and to appoint branch manager The branch manager must fulfill above mentioned conditions Local services agent is required The activity of the parent company must be similar to that of the branch All documents should be notarized by the UAE Embassy overseas, Ministry of Foreign Affairs in Dubai and should be translated in to Arabic So, even if you do not qualify to be a registered broker, it is still possible to practice as a property consultant by fulfilling the requirements of the authority.
The recent categorizations of real estate professionals by RERA and granting of licenses particular to the nature of the profession would help in strengthening the real estate industry and enable the influx of varied talent in the market.
Local, non-local, and expatriates are eligible to apply for and practice as a property consultant provided they fulfill the eligibility laid down by the RERA and obtain the relevant license.
The practice of a real property consultant alls under Activity No.
741404 of the government and the license type is that for a professional.
Property consultancy is defined as an activity that includes running offices that offer property consultancy for money.
Such consultancy is recognized as relevant to data, information and prices of all types of properties.
The services of a real property consultant is distinct from that of a registered broker and do not include facilitating contacts between parties or engaging directly in selling and buying procedures.
Eligibility Requirements for a Real Property Consultant in Dubai The following are the requirements that need to be met by UAE or GCC nationals in order to obtain the license of a real property consultant: Bachelor's Degree in Business Administration, or Finance Certificate of Real Estate practitioner course Minimum 3 years experience in the property field The following are the requirements for expatriates to obtain a license for practicing as a property consultant: Bachelor's Degree in Business Administration, Property, or Finance Certificate of Real Estate practitioner course Minimum 5 years of experience in the field of property Must be sponsored under this license Eligibility Requirements for Branch of a Foreign Company The eligibility requirements for the branch of a foreign company to obtain the license for a real property consultant are as follows: Copy of the license or copy of commercial registration Parent company must be in business for at least two years Copy of the memorandum and/or article of association of the company Authorization letter from parent company to open branch office in Dubai and to appoint branch manager The branch manager must fulfill above mentioned conditions Local services agent is required The activity of the parent company must be similar to that of the branch All documents should be notarized by the UAE Embassy overseas, Ministry of Foreign Affairs in Dubai and should be translated in to Arabic So, even if you do not qualify to be a registered broker, it is still possible to practice as a property consultant by fulfilling the requirements of the authority.
The recent categorizations of real estate professionals by RERA and granting of licenses particular to the nature of the profession would help in strengthening the real estate industry and enable the influx of varied talent in the market.