What is required from a brokerage company in order to operate legally?

To operate legally, a brokerage company must be registered with local authorities. This registration is essential as it ensures that the brokerage complies with local regulations and legal requirements set forth by the Dubai Real Estate Regulatory Agency (RERA). This oversight maintains a standard of practice within the real estate market and protects both consumers and the integrity of the industry.

Additionally, registration helps to establish the legitimacy of the brokerage, giving clients confidence in the services provided. Without this official registration, a brokerage cannot operate within the legal framework and could face penalties or closure.

While the other options may pertain to various operational aspects of a brokerage, they are not mandatory legal requirements to commence operations. For instance, a license from a foreign agency may not be relevant to local operations in Dubai, having a minimum number of staff is not explicitly mandated, and while annual financial audits are beneficial for internal and client transparency, they are not a prerequisite for the legal operation of a brokerage.