As of May 2025, all proceeds from the sale of property in Dubai must be transferred directly to a UAE-based bank account in the seller’s personal name.

What’s Changed?

Until recently, many non-resident sellers received funds in overseas accounts or via third-party authorisations such as power of attorney. The new directive requires:

• No third-party transfers – funds cannot be paid to a lawyer, agent, or POA holder.

• Only personal UAE bank accounts – the seller must have an active bank account in the UAE under their own name.

• Applies to all types of property – including freehold, mortgaged, and off-plan.

This move is part of the government’s broader push for increased transparency, financial compliance, and protection for all parties in real estate transactions.

What Does This Mean for You?

If you are a non-resident property owner planning to sell in Dubai, this rule means you will need to open a UAE bank account before you can complete the transaction.

For many overseas investors, this is uncharted territory. UAE bank account opening requirements can vary, and banks typically require documentation such as:

• Passport copy

• Proof of address

• Source of funds/income

• In some cases, a UAE visit or local representative

Opening a UAE bank account as a non-resident is possible, but it requires preparation and the right guidance. If you’re unsure where to start or how this rule impacts your property sale, our team at Luxe Incorporations can provide support and connect you with suitable banking options. Get in touch now!