Real Estate Agent Permit Requirements in Cranston, RI

1. EIN (Employer Identification Number)

   Required if you have employees or operate as an LLC or corporation. Free from the IRS.

   Official government source

   Free·Immediate (online application)

   Free

   Immediate (online application)

1. Rhode Island Division of Taxation — Sales Tax Permit

   Required for all businesses selling tangible personal property or taxable services in Rhode Island. Rhode Island charges a 7% state sales tax with no local sales taxes. Register with the RI Division of Taxation online via the RI Tax Portal.

   Official government source

   Free·Immediate (online)

   Free

   Immediate (online)

2. Errors and Omissions Insurance (required for Rhode Island real estate licensees)

   Errors and omissions insurance is not merely advisable for Rhode Island real estate agents and brokers: R.I. Gen. Laws 5-20.5-25 requires every holder of a broker's or salesperson's licence to carry and maintain it as a condition of retaining the licence. Licensees obtain the coverage independently and file a certificate of coverage with the Department of Business Regulation by each annual renewal date. DBR Regulation 230-RICR-30-20-2 sets minimum coverage of $50,000 per claim and $150,000 aggregate for an individual licensee; a principal broker's blanket policy must scale those limits by the number of affiliated licensees, or provide at least $300,000 per claim with a $1,000,000 annual aggregate.

   Official government source

   Premiums are set by the insurance market, not by the state. The mandated minimum coverage is $50,000 per claim and $150,000 aggregate for an individual licensee.·Coverage must be in force as a condition of holding the licence, and a certificate of coverage is filed with DBR by each annual renewal date.

   Premiums are set by the insurance market, not by the state. The mandated minimum coverage is $50,000 per claim and $150,000 aggregate for an individual licensee.

   Coverage must be in force as a condition of holding the licence, and a certificate of coverage is filed with DBR by each annual renewal date.

1. Rhode Island Department of Business Regulation - Real Estate Salesperson or Broker License

   Real estate salespersons and brokers in Rhode Island are licensed by the RI Department of Business Regulation's Commercial Licensing section, which supports the Real Estate Commission. A salesperson must complete at least 45 classroom hours of pre-licensing education - hours older than two years do not count - and pass the state examination; a broker needs 90 classroom hours. Every licensee must also carry and maintain errors and omissions insurance as a condition of retaining the licence (R.I. Gen. Laws 5-20.5-25) and file a certificate of coverage with DBR by the annual renewal date. Licences run two-year terms.

   Official government source

   $10 application fee; $65.00 per annum for a salesperson's licence or $85.00 per annum for a broker's licence, with the fees for the full initial term payable at the time of application; plus a $25.00 Real Estate Recovery Fund fee before the original licence issues, and the testing service's examination fee (R.I. Gen. Laws 5-20.5-11; Regulation 230-RICR-30-20-2).·Not published by DBR; the licence issues after the pre-licensing education and state examination are completed. Licences issued after 1 January 2020 renew every two years on the anniversary of issuance.

   $10 application fee; $65.00 per annum for a salesperson's licence or $85.00 per annum for a broker's licence, with the fees for the full initial term payable at the time of application; plus a $25.00 Real Estate Recovery Fund fee before the original licence issues, and the testing service's examination fee (R.I. Gen. Laws 5-20.5-11; Regulation 230-RICR-30-20-2).

   Not published by DBR; the licence issues after the pre-licensing education and state examination are completed. Licences issued after 1 January 2020 renew every two years on the anniversary of issuance.

2. No General Business License in Cranston

   Cranston issues no general business license, so a yoga studio needs none. The City Clerk Services Area licenses only specific regulated categories - amusement machine/game room, auto repair/auto body/used auto dealer, billiards, body works, bowling alley, carnival, door-to-door solicitation, employment agency, entertainment, firearm dealer, hawker/peddler, liquor, massage therapy, mobile food establishment, parade, private detective, secondhand dealer, short-term lender and temporary mass gathering. Fitness and yoga instruction is not a licensed category.

   Official government source

   No fee, because no general business license exists. Fees apply only to the specific regulated categories on the City Clerk's licensing portal.·Not applicable - Cranston issues no general business license.

   No fee, because no general business license exists. Fees apply only to the specific regulated categories on the City Clerk's licensing portal.

   Not applicable - Cranston issues no general business license.

Official Sources

• Rhode Island Real Estate Commission — Salesperson or Broker License
• City of Cranston City Clerk

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