🏦 UAE Bank Account Now Mandatory for Sellers
🌍 A Big Change for Overseas Property Owners
If you’re a non-resident property owner in Dubai, there’s an important regulatory update you need to know. As of June 2025, the Dubai Land Department (DLD) requires that all property sale proceeds be paid into a UAE bank account.
Previously, sellers could have proceeds wired abroad. Now, only local bank accounts are valid. This change affects thousands of overseas investors and must be planned for in advance to avoid delays or complications.
💡 What’s New and Why It Matters
🛑 No More Foreign Transfers
Overseas sellers can no longer use foreign bank accounts to receive money from property sales. Even if you have a power of attorney in place, the DLD now insists that the account holder’s name match the title deed exactly.
✅ Why Dubai Enforced This Rule
This updated regulation is part of the UAE’s growing effort to enhance financial transparency, combat fraud, and meet global compliance standards. By ensuring funds stay within the local system, the DLD aims to improve tracking and transaction security.
📊 Dubai Market Context: A Snapshot
The timing of this update is notable. In May 2025 alone, Dubai recorded over AED 14.8 billion in property transactions — a 15% increase year-on-year. A significant portion of these deals involved foreign investors, especially in:
- Palm Jumeirah
- Downtown Dubai
- Dubai Marina
- Jumeirah Golf Estates
As the volume of cross-border sales grows, so does the need for structured regulation.
🧭 What This Means for Sellers
This new requirement may sound inconvenient. However, it offers several advantages:
- ✅ Faster fund transfers (same-day within UAE banks)
- ✅ Better exchange rates via local currency conversion
- ✅ Simplified reinvestment in Dubai’s high-yielding property market
- ✅ Compliance with tax and legal frameworks
More importantly, sellers who fail to meet the banking requirement may delay title transfer, lose buyers, or stall their transaction entirely.
🔍 Who This Affects
This rule applies to all types of property owners:
- 📍 Non-residents holding ready or off-plan units
- 🏢 Companies, trusts, or foreign nationals selling Dubai assets
- 🧾 Sellers using power of attorney (PoA) to handle sales remotely
While PoAs remain valid, funds must still be issued to the UAE account of the owner, not the attorney.
🏦 How to Open a UAE Bank Account Remotely
1. Choose a Reputable Bank
Banks like Emirates NBD, Mashreq, and ADCB offer solutions for non-resident accounts. Some even allow video KYC verification.
2. Prepare Your Documents
- Valid passport
- Utility bill or proof of address
- Property documents
- Source of funds declaration
- UAE mobile number (Jarsmak can assist)
3. Account Setup Time
Depending on the bank and documentation, your account can be set up in 5–10 working days.
💼 Case Study: How Jarsmak Helped a UK Seller
One of our clients, a UK-based investor, was mid-sale when the new regulation took effect. She didn’t have a local account, and her buyer was ready to sign.
We fast-tracked her UAE bank setup, coordinated DLD approvals, and ensured the proceeds landed without delay. The sale closed on time — and she reinvested into an off-plan townhouse within a week.
🧩 Planning Ahead: Tips for Sellers
To make sure you’re ready:
- 🔹 Set up your account before listing the property
- 🔹 Avoid mismatched names on PoA, deed, and account
- 🔹 Notify your broker about compliance early
- 🔹 Consider reinvesting locally to keep your AED funds active
📈 What’s Next for Real Estate Rules?
Dubai continues to move toward full digital and financial compliance. Expect upcoming rules to include:
- Direct DLD-bank integrations
- Title deed-linked accounts
- Tax ID reporting for rental income
- Digital KYC for international investors
Being proactive today means avoiding risk tomorrow.
💙 How Jarsmak Makes It Easy
As your Dubai property management partner, we handle everything:
✔️ UAE bank account setup
✔️ Property valuation and buyer screening
✔️ Power of attorney coordination
✔️ Fund tracking and post-sale guidance
✔️ Support in AED–USD conversion or reinvestment
Whether you’re a first-time seller or managing a portfolio, we’re here to ensure a smooth and profitable exit.
📞 Let’s Handle the Details for You
Don’t let regulations slow you down. If you’re selling a Dubai property from abroad, let us help you become fully compliant — while saving time, money, and stress.
📱 Call +971 4 557 3134
📧 Email info@jarsmak.ae
🌍 Visit www.jarsmak.ae
📩 DM us on Instagram @jarsmak
Book a Free consultation
{{ is_error_msg }}
Duration: {{ service_details.bookingpress_service_duration_val }} {{ service_details.bookingpress_service_duration_label }}
Price: {{ service_details.bookingpress_service_price }}
{{ is_error_msg }}
{{ is_error_msg }}
{{ is_error_msg }}
Your appointment booking summary
Pay Locally
PayPal
One Response