A recent report by Gulf News discusses a significant update for non-resident property investors in Dubai: sellers based overseas must now hold a UAE bank account in their own name to receive payments, even when acting through a power of attorney (PoA). The change, effective immediately, is aimed at tightening transaction protocols and ensuring payments are made solely to the name listed on the property’s title deed. While PoAs can still handle the selling process, cheque clearance can no longer be routed through them – a move that reinforces Dubai’s drive for greater transparency in property deals.
Key takeaways from Gulf News’ coverage of Dubai’s new property payment rule:
- The Dubai Land Department is reinforcing title deed alignment in all payments.
- New rule is part of broader efforts to improve payment transparency.
- Remote PoA assignment via Dubai courts (including via Zoom) is still permitted.
- The rule enhances legal and financial traceability by tying all sale proceeds directly to the registered owner.
For overseas investors holding Dubai real estate, this new payment directive marks a meaningful step in the city’s push toward tighter procedural clarity and ownership authentication. By ensuring that all property sale proceeds go directly to the name on the title deed – not through intermediaries – Dubai is signalling a commitment to transparency that benefits both buyers and sellers.
In practice, this adjustment won’t impede non-resident sellers. Power of attorney remains a viable channel for managing the transaction, including the sales process and paperwork. What’s changed is how funds are disbursed – a targeted move that reduces potential for ambiguity or misuse.
It also aligns with Dubai’s broader regulatory evolution. As the market matures, so too does its infrastructure. Processes are becoming more digital, more court-verified, and more secure. For investors, particularly those based abroad, this provides reassurance that their assets are governed by a system that prizes legal clarity and financial traceability.
Far from being a barrier, the new requirement reflects Dubai’s deepening position as a secure investment environment – one where rules are built to safeguard value, not complicate access.
Original article reference: Gulf News
