Real Estate

A POA is a common document that is used in real estate transactions in Dubai, as many investors usually outside the UAE or simply have no time to follow up and complete the process of transferring a real estate.

Companies registered under RAK International Corporate Centre (RAKICC) also known as RAK offshore companies can buy property in Dubai’s free-hold areas.

Technically speaking you can gift your assets including your real estate to whoever you wish, whether the beneficiary is your relative or not. However, officially, not all property gift transfers are qualified as property gifting in the eyes of regulatory authorities, i.e. Dubai Land Department (DLD).

During May 2019, a few new rules have been adopted in relation to EJARI registration of tenancy contracts in Dubai. One of the rules relates to Power of Attorneys (POA).