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18.08.2023 10:43

Ways to pay for UAE real estate

Ways to pay for UAE real estate

Ways to pay for UAE real estate

All types of payments on contracts, reservation forms and expressions of interest in the UAE can be paid either by bank transfer: from a UAE bank account by simple transfer or international SWIFT transfer in dollars from an overseas account; by bank check, still checks are widely used in the Emirates, in the real estate market in particular.

Bank transfers:

There is a small list of Russian banks that are not under sanctions and open AED accounts for individuals and businesses: BKS Bank, AK Bars Bank, Credit-Europe Bank, ZENIT, and others. The same banks send SWIFT transfers to the UAE.

Taking into account the requirements of FATF and internal Russian laws, transactions over 1 million rubles are subject to additional verification by Rosfinmonitoring, accordingly, additional supporting documents may be requested (personal income tax certificates, loan agreements, sale of immovable property, motor vehicles, etc.) to confirm the legal origin of funds. Accordingly, for the legal transfer of funds to the UAE is enough to open a bank account in AED, transfer funds to it from any Russian ruble account, convert to AED and send SWIFT in payment for real estate.

Bank checks:

An increasingly popular payment method for clients from the Russian Federation is cryptocurrency transfers to authorized agents in the UAE who issue bank checks against the cryptocurrency received.

Housebook Real Estate LLC together with its Russian partner "Cryptotransfer" provides comprehensive services for the transfer and payment of funds from the Russian Federation to the UAE from any currency in AED, as well as the issuance of checks, with a total turnkey cost of 2.0% of the payment amount.

Please contact W/A at +971 43 102302 for all details.