The Procedures for Issuing License by REALB
Real Estate Agents Licensing Board (REALB) issues license to agents and certificate of approval to salespersons if they meet the requirements, under the provisions of the Real Estate Agents Licensing Act 2006. An approval is needed on new license, renewal of current license, approval of certificate for new salespersons and renewal of certificate of existing salespersons.
New Application for Real Estate Agent License
An applicant needs to meet certain criteria to obtain an agent’s license and operate as a real estate in Fiji. An applicant needs to fill forms 1, 2 and 4 if applying to operate as an individuals or forms 1, 3 and 4 for a company. Form 4 to be lodged to Serendib Investment for Gazetting and the notice to be gazetted twice. If no objection is raised by the public on this application then it is presented to the Board for consideration. This normally takes thirty days from the date of the publication of notice in the Gazette. An application fee of $484.44 is payable when an application is lodged.
Checklist for New Application
1. Complete Form 1.
2. Complete Form 2 if you are an individual applying to set up your real estate business or
3. Form 3 if applying for a Company.
4. It requires the Notice to be advertised twice in the Gazette. Obtain Form 4 from REALB and arrange for gazetting with Serendib Investment.
5. Fill in a supplementary form
6. Produce a certified copy of Company registration
7. Police clearance
8. Evidence of place of business such as tenancy agreement if leasing an office space.
9. Evidence of work experience that is at least 3 years’ practical experience working full time. primarily or predominantly in real estate business over the l last 5 years
10. Bank statement for the last three months for a Company as well as for an individual applicant.
11. Tax Compliance certificate
12. Director’s reference from previous employers
13. Copy of TIN letter or FNPF Card
14. For a foreign applicant –a copy of approval from Investment Fiji (formerly known as FTIB) and Visa approval from the Immigration Department.
15. Copy of Business License is to be submitted after it is approved.
16. The prescribed fee of $444.44 (VEP) + VAT which amounts to $484.44 (This is non- refundable fee)
17.Tick an option in the Box for the duration of the license when applying by. Please note that the License fee of $888.89 + VAT will be charged for each year of the License (1 Year, 2 Years, 3 Years 4 Years, 5 Years)
Once an application is approved by the Board, the applicant has to pay an additional $968.89 annual fee.
Application for renewal for Real Estate Agent Licence
The agents who are applying for the renewal of the license need to fill forms 8, 9 and supplementary forms to be filled for individuals or forms 8, 10 and supplementary forms for Company. All other documents needed are stated in the Checklist for Renewal. Once all documents are received, the Compliance and Monitoring Department will go out and inspect the office and vet the documents provided. After their inspection and the vetting of the documents then they will prepare the renewal papers to be submitted in the Board Meeting where the Board will give their decision. Board Meetings are done monthly – every first week of the month.
Checklist for Application or Renewal of Real Estate Agents License
(Please submit this with your application)
1. Fully completed Form 8
2. Fully completed and appropriately signed Form 9 for application by an individual for renewal of a license
3. Fully completed and appropriately signed Form 10 for application by a Company for renewal of Real Estate Agent’s license
4. Fully completed Supplementary Form for Renewal of Renewal Estate Agent’s License
5. Tax Compliance Certificate from FRCS
6. Bank Statement of the Company for the last 12 months.
7. The duration of the License by placing a tick in the boxes below. Note that the license fee of $888.89 + VAT/year is payable upon approval of the license (1 Year, 2 Years, 3 Years, 4 Years 5 Years)
8. Copy of Business license
New Application for Salesperson
Form 12 to be filled and signed by the Company Director. All other documents are to be submitted as stated in the Checklist. Application fees of $67.82 to be paid during lodgement of application. After receiving an application, the, REALB will wait for the police clearance. Having obtained police clearance, it is forwarded to the Compliance and Monitoring Department of REALB for vetting. Applicants will be contacted if other supporting documents or information are needed. After vetting then the application is forwarded to the Chief Executive Officer or the Chairman for approval. Approvals for the salespersons are vetted twice a week. Police clearances normally take 1 – 2 weeks or even more to arrive at REALB office.
Application for Renewal for Salesperson
Form 14 to be filled with all the documents shown in the Checklist. Renewal fees of $48.44 to be paid during lodgement. The Compliance Team will do the vetting and application is forwarded for approvals by the Chairman (Under the current arrangement). Once an approval is granted, letters and certificates are signed, ready for collection from REALB office for the Central Division. As for the Western and Northern Divisions these documents are posted or couriered.
All the forms are available on our website www.realb.org.fj.
This is a contribution from the Real Estate Agents Licensing Board (REALB). Email: pravin.narain@realb.org.fj for feedback.