💼 Dubai Tightens Rules: Overseas Investors Must Hold UAE Bank Accounts for Property Sales
Dubai, UAE – From this week, foreign-based sellers of Dubai property must comply with updated regulations requiring UAE-based bank accounts to process sales transactions. The Dubai Land Department now mandates that any checks must be made in the name of the property owner stated on the title deed, excluding any Power of Attorney (PoA) names.
Historically, overseas sellers often granted their PoA rights to family or agents in Dubai. Banks would then issue checks to the PoA-holder’s name, facilitating timely payments upon sale. However, Yash Trivedi, founder and CEO of YOUAE Mortgages, confirmed:
“This practice will no longer be permissible. All payments must be made in the name of the seller as stated in the title deed.”
🔎 What’s Changing for Overseas Sellers?
UAE bank account required: Sellers must hold a UAE-based account to receive check payments.
Title deed name mandatory: Payments now must match the exact name on the property’s title deed—no Payable-to-PoA exemptions.
Licowering layer of transparency: This aligns with the government’s goal to strengthen financial compliance and transparency.
🌍 Impact on Non-Resident Investment
Despite the stricter rules, foreign investment in Dubai property remains strong. Sales to non-resident investors have increased in 2025 compared to last year.
To comply, sellers still need to assign PoA—ideally “directly to Dubai courts.” The process has been simplified: the MoFA attestation is no longer required, and courts even accept Zoom-based assignments, according to industry sources.
✅ What Sellers and Agents Should Know
Power of Attorney remains valid, but sellers must still hold UAE bank accounts under their name.
Agents or family members can execute the sale, but check payments will be released only to the title deed holder.
The new policy supports Dubai’s goal of full digitalization and financial transparency in property transactions.
Can checks be made out to PoA holders?
No. Under the new rule, checks must be issued only to the seller’s name as per the title deed.
Must I open a UAE bank account as a foreign seller?
Yes, to receive check payments, sellers must have an active UAE-based bank account.
Can PoA be assigned remotely?
Yes. PoA can be granted via Dubai courts using Zoom, without needing MoFA attestation.
Why has the rule changed now?
The update enhances transaction transparency and aligns with Dubai’s efforts to strengthen its financial system.
