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Legal and Compliance

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The Regularity Authorities for the Real Estate Sector in the UAE

Our company is committed to providing real estate services in full compliance with the laws and regulations issued by the competent authorities in the United Arab Emirates, including:

Compliance with Real Estate Law

We adhere to all applicable real estate laws in the UAE, including regulatory laws governing real estate in Abu Dhabi and Dubai, ensuring all transactions are registered within the legal frameworks.

We apply strict procedures for collecting and documenting necessary client information to ensure the highest standards in anti-money laundering (AML) and combating terrorism financing

This law mandates real estate brokers to adopt stringent KYC procedures, including verifying clients’ identities and sources of funds, and reporting suspicious activities through the “goAML” platform. Federal Decree No. 14 of 2018 and Decree No. 20 of 2018 2018, Decree No. 45 of 2021, and Decree No. 30 of 2024 are available on:

The UAE Official Gazette website: https://www.gulfnews.com/uae/government/uae-official-gazette-1.66249164

This law imposes strict rules on collecting, storing, and processing client data, emphasizing prior consent and maintaining data confidentiality for extended periods, usually around 5 years.

Establishes a unified digital platform for identity verification and secure, efficient management of client data, including technical updates to ensure full compliance with KYC requirements.

  • Real estate institutions are obligated to implement due diligence procedures (“Know Your Customer” KYC) when dealing with real estate purchase and sale transactions, to combat money laundering and the financing of terrorism.
  • It is necessary to verify the client’s financial sources and scrutinize the ultimate beneficial parties in any real estate transaction to ensure there are no risks related to money laundering or politically exposed persons or those subject to international sanctions.
  • Dealing with shell banks or opening bank accounts under fictitious or assumed names is prohibited.
  • Any suspicious activity or transaction must be reported immediately via the Financial Information Unit’s goAML platform.
  • The Financial Information Unit must adhere to the risk indicators for real estate transactions, such as the use of third parties, unjustified profits, or unusual housing finance.
  • New licenses for sector professionals require the addition of a Brokerage License Number (BLN) and adherence to transparency frameworks, with the requirement to register data and retain records for up to 5 years.
  • Compliance Laws for Banks and Financial Institutions
  • Impose advanced due diligence procedures on clients, including identity verification, source of funds verification, and client risk classification, while facilitating secure information exchange.
  • Anti-Money Laundering Guidelines and Principles and International Standards
  • Emphasize the need for thorough verification of client identities and sources of funds, preventing any mixing of illicit funds, and continuously updating necessary procedures to ensure compliance.
  • Dubai Land Department (DLD): Oversees the registration and certification of real estate transactions.
  • Dubai Real Estate Regulatory Authority (RERA): Licensing and regulating real estate brokers, managing escrow accounts, registering contracts, and resolving disputes between landlords and tenants.
  • Abu Dhabi Statistics and Real Estate Development Centre (ADDREC): Oversees the regulation of the real estate market in Abu Dhabi under the Ministry of Municipalities and Transport.
  • Ministry of Economy: Monitors the implementation of anti-money laundering and counter-terrorism financing laws across all sectors of the country, including real estate.
  • KYC (Know Your Customer) regulations require real estate brokers to thoroughly identify their clients and verify their identities (e.g., Emirates ID or passport).
  • Transaction records must be retained for approximately five years, and any suspicious activity must be reported to the relevant authorities.
  • Data protection laws ensure that client consent is obtained and that data is used only for specific purposes while maintaining confidentiality.
  • The new digital KYC platform provides a unified method for verifying client identities and facilitates secure data sharing between government entities and the private sector.

We prioritize protecting our clients’ privacy and employ best practices and technologies to secure information confidentiality and restrict its use to legally specified purposes.

We continuously monitor updates to new laws, such as AML/CFT legislation and new real estate regulations, to ensure full compliance

The Regularity Authorities for the Real Estate Sector in the UAE
Dubai Land Department (DLD)

Supervises the registration and certification of real estate transactions. 

Official website    https://www.dubailand.gov.ae   Direct Link   https://dubailand.gov.ae

 

Responsible for licensing and regulating real estate brokers, managing trust accounts, registering contracts, and resolving disputes between landlords and tenants. Part of DLD, information can be found on the DLD website above

Oversees the regulation of the real estate market in Abu Dhabi under the Ministry of Municipalities and Transport. Official Website https://adrec.gov.ae/ar/rules_and_regulations

Monitors the enforcement of anti-money laundering (AML) and terrorism financing laws across all sectors in the UAE, including the real estate sector. AML Platform for Combating Money Laundering and the Financing of Terrorism (AML/CFT)

Official website (Anti-Money Laundering Section):

For additional information on the go AML platform and official correspondence, please refer to the official website of the Central Bank of the UAE: https://www.centralbank.ae

https://www.moec.gov.ae/federal-decree-law-no-20-of-2018-on-anti-money-laundering-and-combating-the-financing-of-terrorism-and-illegal-organisations

For additional information on the goAML platform and official correspondence, please refer to the official website of the Central Bank of the UAE: https://www.centralbank.ae

Federal Decree No. 14 of 2018 and Decree No. 20 of 2018 2018, Decree No. 45 of 2021, and Decree No. 30 of 2024 are available on The UAE Official Gazette website: https://www.gulfnews.com/uae/government/uae-official-gazette-1.66249164