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This service allows banks and Financial Institutions to apply for registration at the Real Estate Regulatory Agency to open and manage escrow accounts for real estate development and financial auditing of a real estate project.

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Account Trustee
1- Signing an Account Trustee agreement with the Land Department. (In case of a new Account Trustee)
2- A list of employees with contact information

Auditing Bureau
1- Submitting a CV and responding the questions approved by the Real Estate Regulatory Agency (new application).
2- Submission of the Memorandum of Association.
3- Registration of the Auditing Bureau and employees approved by the Ministry of Economy.
4- A trade license issued by the Economy Department
5- Signing an Auditing Bureau agreement with the Land Department. (In case of a new Auditing Bureau)

Account Trustee
- To be licensed by the Central Bank.
- A technical department to monitor projects or contracting with a consulting company to perform such monitoring and follow-up and notify the establishment of any amendments that occur from time to time to make such list.
- An integrated unit for escrow account management in the Emirate of Dubai
- Signing an Account Trustee agreement with the Land Department. (New Account Trustee)
- Payment an Account Trustee approval fee of AED (75,020) annually
- Ensuring that a list of employees in addition to contact information is provided on an annual basis.
- Notifying the institution of any amendments that occur from time to time to such list.
- Providing the RERA with a list of the fees charged for the services provided to a developer
- (in case of renewal of an Account Trustee) it is not necessary to sign an Account Trustee agreement with the Real Estate Regulatory Agency
Auditing Bureau
- To be licensed by the Economy Department.
- Registration of the Auditing Bureau and employees approved by the Ministry of Economy
- Submitting a CV and responding the questions approved by the Real Estate Regulatory Agency (new application).
Submitting a Memorandum of Association.
Ensuring that the Auditing Bureau adheres to the annual evaluation standards (in case of renewal).
- Signing an Auditing Bureau agreement with the Land Department. (New Auditing Bureau)
Paying an Auditing Bureau approval fee of AED (50,020) annually.
- Ensuring that the list of approved auditors, in addition to contact information, is submitted on an annual basis. Notifying the RERA of any amendments that occur from time to time to such list
- (in case of renewal of an Auditing Bureau) it is not necessary to sign an Auditing Bureau agreement with the Real Estate Regulatory Authority

Payment of an Account Trustee approval fee of AED (75,000) annually
AED 10 Knowledge fee
AED 10 innovation fee

Payment of an Auditing Bureau approval fee of AED (50,000) annually
AED 10 knowledge fee
AED 10 innovation fee

Step I: applying through the Land Department’s website (Real Estate Developers Portal - Oqood), escrow account system, or via e-mail
Step II: The RERA will study an audit the application of the strategic partner and decide approval or rejection
Step III: In the event that a new Account Trustee or Auditing Bureau is approved, coordination is made to attend and sign an agreement
Step IV: Payment of fees
Step V: Partner systems update