Development Registration

Who is a Developer?

The Real Estate (Dealers and Developers) Act defines a developer as a person who carries on, whether in whole or in part, the business of development of land. Development means the carrying out of building, engineering or, other operations in, on, over or under any land, or the making of any material changes in its use or in the use of any buildings or other land for the purpose of disposal of such land or any part thereof in a development scheme.

What needs to be registered?

All development schemes where the number of lots into which the land is, or is intended to be, subdivided exceeds five, or where the number of strata lots comprising building units constructed or intended to be constructed in the development scheme exceeds five, or where the person carrying out or proposing to carry out the development scheme is also carrying out, or has within the preceding twenty-four months carried out, another development scheme of whatever size.

Individuals
Body Corporate/Joint Ventures

What you will need

Application Form

Application Fee

Development Fee

2 x Certified Passport Size Photos

Proof of Address

Copy of TRN

Local Bankruptcy Receipt

Police Reports

Copy of registered title, Volume and Folio

Evidence of approval of the development scheme

Evidence of scheme financing

What you will need

Application Form (must be signed by two directors and the company’s stamp/seal affixed)

Application Fee (based on size of development)

Development Fee (calculated per lot/unit whichever is greater)

Articles of incorporation

Companies office Form 3 (if listed directors are not on the articles of incorporation)

Copy of Company TRN (if not already indicated on certificate of incorporation)

Local Bankruptcy Receipt for all company directors

Police Reports for all company directors

Proof of address (Utility Bills or letter from a JP confirming address)

Evidence of ownership of land being developed (copy of registered title, Volume and Folio)

Evidence of approval of the development scheme (originals and copies or certified copies of approved plans and letters of approval from the local planning authorities)

Evidence of scheme financing (personal or through an authorized financial institution or both)

What is the process

Step 1: Submit your Application

To begin the application vetting process, the following original documents should be submitted to the Main Office:

Completed Application Form
2 Certified Passport Size Photos by JP or Attorney at Law
Payment of the Application Fee (based on size of development)
Development Fee (calculated per lot/unit – whichever is greater)
Proof of Address (Utility Bills or letter from a JP confirming address)
Copy of TRN
Bankruptcy Receipt
(person residing overseas for six (6) months prior to application must also provide overseas clearance)
Police Report
Copy of Registered Title, Volume and Folio (Evidence of ownership of land being developed)
Evidence of approval of the development scheme
(originals and copies or certified copies of approved plans and letters of approval from the local planning authorities)
Evidence of scheme financing (personal or through an authorized financial institution or both)

These documents will be vetted and an officer of the Real Estate Board will contact you regarding the next steps.

Step 2: Application submitted for Verification and Consideration

Once the applicant has met the specified criteria the application is submitted for an on-site inspection. Thereafter. the application and assessment are submitted to the Development Committee for consideration.

Step 3: Development Committee Recommendations submitted to Board of Directors

Application recommendations, by the Development Committee, are tabled at board meetings held every 4^th Thursday of the month. All applications must be submitted one (1) week prior to the sitting of the Board Meeting.

The final decision of the Real Estate Board will be communicated via email and post.

Step 4: Successful Application

Once you have been officially notified of approval of your development you will be issued the following:

A unique Developer number in the format DVR-XXXX (if you have never previously registered a development)
A unique Development registration number in the format DV-XXXX
Letter of Approval (to be collected from the Real Estate Board)

Your registration will be added to the Public Register under the categories of Developer and Development.