June 18, 2025 | Dubai, UAE- Dubai’s real estate sector has launched new regulations for international investors, aiming to improve security and transparency. The Dubai property market is certainly reaching the level of utmost transparency and security for sellers and buyers across the globe.
According to recent reports, to complete certain transactions, foreign sellers of real estate must now open a local bank account. Payments are made directly to the seller or property owner thanks to this measure. The duties of power of attorney representatives are also made clearer by the updated regulations. They are still able to represent sellers in transactions, but they are unable to get paid for them.
The Dubai property market Department is simplifying the power of attorney registration procedure in an effort to increase security. With this modification, foreign sellers can now remotely finish the required steps. Dubai is making these adjustments as part of its continuous efforts to boost its property market and draw in more capital in Dubai Property Market.
- For transactions, foreign real estate sellers need to have a UAE bank account.
- The seller or owner of the property must receive all payments directly.
- Although they are unable to take payments, power of attorney holders are able to represent sellers.
- For heightened safety, the Dubai Land Department is refining registration procedures.
Paramount to this, it is anticipated that both buyers and sellers will benefit from these new rules since they will make transactions safer and more effective in the industry of Dubai property market.
“According to a Power of Attorney from Dubai courts, banks were issuing cheques in the name of the person holding the PoA. This method will no longer be allowed starting this week. All payments must be made in the seller’s name as it appears on the property’s title deed,” commented Yash Trivedi, founder and CEO of YOUAE Mortgages, an advisory firm.
Main Highlights of Dubai’s Property Market Laws For Foreign Sellers
The main points about Dubai’s property market regulations for overseas sellers are as follows:
- Requirement for Local Bank Account: Foreign property sellers must open a bank account in the United Arab Emirates to facilitate transactions. Buyers’ payments will be deposited into this account.
- Sellers are paid directly: Direct payments will be sent to the seller’s bank account in the United Arab Emirates. This ensures a transaction process that is both open and safe.
- The Role of Power of Attorney Holders: Power of Attorney (PoA) holders can still represent foreign sellers in housing transactions.
- Payments will go to the seller’s bank account instead of the PoA holder.
- Foreign sellers can now manage their real estate transactions in Dubai more easily due to the Dubai Land Department’s updated registration process for Power of Attorney holders, which allows remote completion of formalities.
A Boon to Both Sellers and The Buyers Overseas Engrossing The Dubai Property Market
“Whenever a PoA was assigned earlier, it was not as smooth a process,” a source in the real estate industry claims. The MoFA has to verify the PoA documentation, and if the address or any other detail has changed, you will need to review more information.
Therefore, it is considered no less than the best and safest options for both sellers and buyers to invest in the Dubai property market and make it an ultimate destination. The transparency and security will also help in dealing with potential disagreements by simplifying payment options. By improving transparency, the city hopes to preserve its standing as a premier location for Dubai property market investment transactions by enhancing security and transparency.
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