Does Brokerage Commission received greater than or equal to AED 55K also trigger REAR reporting for the Broker?

UAE
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1

Would receiving a brokerage commission of AED 55K or more also trigger REAR reporting obligations for the broker?

2

All the real estate brokers/agents are obligated to report the transaction pertaining to the buy/sale of Freehold Real Estate, which involves payment towards the value of the property, whether in full or part, in cash amounting to AED 55,000 or more or in virtual assets.

Accordingly, REAR filing is relevant only to the transactions of purchase and sale of Freehold Real Estate, where the payment towards the property value is cash equal to or exceeding AED 55,000 (single payment or through several transactions).

To conclude, the brokerage commission received by the broker in cash exceeding AED 55,000 will not trigger REAR filing on the goAML Portal.

Learn more about REAR obligations here: