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Request for Certification/ Renewal of Certification of an Escrow Agent or Audit Firm

This service allows banks and financial institutions to apply for registration with the Real Estate Regulatory Agency to open and manage real estate development escrow accounts and financial audits of the real estate project.

N/A

Account Trustee
1- Signing an account trustee agreement with Dubai Land Department. (New account trustee)
2- A list of employees with contact information

Audit firm
1- Submit a CV and answer the questions approved by the Real Estate Regulatory Agency (new application)
2- Presenting the articles of incorporation
3- Registration of the audit office and the employees approved by the Ministry of Economy
4- Trade license issued by Dubai's Department of Economy and Tourism
5- Signing an audit firm agreement with Dubai Land Department. (New audit firm)

Account Trustee
- Must be licensed by the Central Bank of the UAE
- A technical department for project control or contracting with a consulting company to do this monitoring and follow-up, and notify RERA of any amendments that occur from time to time to this list.
- An integrated unit for managing the escrow account in Dubai.
- Signing an account trustee agreement with Dubai Land Department. (New account trustee)
- Paying an account trustee accreditation / Renewal fee of AED 75,020 annually
- Ensuring that a list of employees in addition to contact information is provided on an annual basis. Notify RERA of any amendments that occur from time to time to this list.
- Providing RERA with a list of the fees it charges for the services provided to the developer
- (In the event of renewal of an account trustee) it is not necessary to sign an account trustee agreement with the Real Estate Regulatory Agency

Audit firm
- Must be licensed by Dubai's Department of Economy and Tourism.
- The registration of the audit firm and employees approved by the Ministry of Economy
- Submitting a resume and answering questions approved by the Real Estate Regulatory Authority (new application)
- Submission of the Memorandum of Association
- Ensure that the audit firm adheres to the annual evaluation standards (in case of renewal).
- Signing an audit firm agreement with Dubai Land Department. (new audit firm)
- Paying an audit firm accreditation Renewal fee of AED 50,020 annually.
- Ensuring that the list of accredited auditors, in addition to contact information, is submitted on an annual basis. Notify RERA of any amendments that occur from time to time to this list
- (In the event of renewal of an audit firm it is not necessary to sign an audit firm agreement with the Real Estate Regulatory Agency

Request for Certification/ Renewal of Certification of an Escrow Agent
AED 75,000 annually
AED 10 Knowledge Fee
AED 10 Innovation Fee


Request for Certification/ Renewal of Certification of an Audit Firm
AED 50,000 annually
AED 10 Knowledge Fee
AED 10 Innovation Fee

Step 1: Submit the application through DLD's website (Real Estate Developers Portal - Oqood), the escrow account system, or via e-mail.
Step 2: RERA will study the request for the new strategic partnership, audit it, and issue an approval or rejection.
Step 3: In the event of an approved request for a new account trustee or audit firm, an agreement will be coordinated and signed on.
Step 4: The fees will be paid.
Step 5: The systems are updated with the new partner.

Noqodi

Dubai Land Department's website (Real Estate Developers Portal -Oqood) TAS System

email: Trust@dubailand.gov.ae

 Approved strategic partner

Waiting time 29 working hours
Serving time 28 working hours