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Request to Cancel Registration of an Escrow Agent/ Audit Firm

Description

This service allows all financial institutions in Dubai to apply to cancel their registration with the Dubai Dubai Land Department.

The service is provided by the Real Estate Trust Account  Section at the Real Estate Trust Account Development  Department.

Required Documents

Escrow Agent
1-  Request to Cancel Registration of an Escrow Agent
2- The escrow agent must submit an undertaking to transfer all amounts and documents related to the project escrow account to the new escrow agent within three (3) working days
3- The escrow agent must submit an undertaking to immediately transfer any amounts collected after the transfer to the escrow account maintained by the new escrow agent.


Audit Firm
1- Request to Cancel Registration of an Audit Firm

 
 
 
Terms of Service  Required Documents:-

Escrow Agent

1- Developers must be notified to transfer the management of their escrow accounts to another escrow agent certified by the Dubai Dubai Land Department within one (1) month from the date of notification.
2- The escrow agent must submit an undertaking to provide any information requested by the Real Estate Regulatory Agency (RERA) after cancellation of registration

3- The escrow agent must submit an undertaking to comply with the terms of the agreement between the escrow agent and the Real Estate Regulatory Agency (RERA) with respect to cancellation of registration


Audit Firm

1- The audit firm must submit an undertaking to comply with the terms of the agreement between the audit firm and the Real Estate Regulatory Agency (RERA) with respect to cancellation of registration
 2- The escrow agent must submit an undertaking to provide any information requested by the Real Estate Regulatory Agency (RERA) after cancellation of registration.


Service Procedures

​The escrow agent / audit firm shall enter Dubai Land Department Website and select services then Escrow account Services and choose Request to Cancel Registration of an Escrow Agent/ Audit Firm and apply for the service . After completion of the internal procedures, an official letter shall be sent to the applicant through email

Service Fee
None
Service Branches

Dubai Land Department- Website

Related Services
Additional Information
Last updated 10/02/2019 15:18:53
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