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Setting up in practice

If you would like to set up in practice as a sole trader, partner or director you will find useful information on the following pages including what RICS requires from you, statutory requirements you need to follow and the RICS resources available to you.  

You will need to give thought to the legal structure of your new firm – whether to set up as a sole trader; a partnership; a private company; a public limited company; or a limited liability partnership. 

Business Link is the government’s online resource for business and has comprehensive details on firm structures.

You may also find the RICS Practice management guidelines a useful resource (member only). 

Contact details

For more information about setting up in practice you can contact RICS Regulation:

Monday to Friday, 0900-1700 GMT


RICS requirements

RICS needs a new firm to fulfil a number of obligations when it is first set up

RICS Resources

There is a range of RICS products and services you have access to which can help you to set up your new business

Regulated by RICS

The firm's designation that can only be used by firms that have signed up for RICS regulation

Funding & finance

When you start up a new business a lot your time will be taken up deciding on funding

Statutory requirements

There is a range of statutory business requirements you will have to follow

Insurance

There will be a number of insurances you will need to obtain when starting a new business

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