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 4th 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.