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New rules for UAE real estate industry for property bought with cryptocurrency

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The Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU), have announced the introduction of new reporting requirements aimed at certain real estate transactions.

The UAE is one of the first countries to implement such a mechanism for real estate transactions involving virtual assets, marking the latest example of the UAE’s global fight against money laundering and terrorist financing.

All real estate agents, brokers, and law firms are obliged to file reports to the FIU for purchase and sale transactions of freehold real estate properties in the UAE that include any of the below three methods of payment, whether for a portion or the entirety of the property value:

  1. Single or multiple cash payment(s) equal to or above AED 55,000
  2. Payments that include the use of a virtual assets
  3. Payments where the fund(s) used in the transaction were derived from a virtual asset.

The reporting mechanism requires real estate agents, brokers, and law firms to obtain and record the identification documents of the parties to the applicable transaction, among other relevant documents related to the transaction.

The rules apply to both individuals and corporate entities that are parties to the above real estate transactions.
The relevant private sector entities have been informed about the specific requirements in regulatory circulators issued by the MoE and MoJ.

Additionally, to ensure preparedness, UAE authorities have collaborated to host three separate workshops with real estate agents and brokers, as well as law firms, helping to guide them through the new reporting requirements and enhance their familiarisation with the FIU’s anti-money laundering system. The MoE and MoJ apply a proactive, risk-based supervisory approach in line with UAE legislation and the international standards set by the Financial Action Task Force (FATF).

Cryptocurrency terms in the UAE

According to real estate agency OPR, though you can buy real estate with cryptocurrency, it is impossible to pay with it directly. According to the requirements of the UAE Central Bank, all transactions outside the territory of the state must be carried out using the national currency – the dirham (AED).

In this case, it is necessary to transfer the digital currency to the account of the trading company and then get a cheque for the agreed amount of money. Only then can you pay for the purchase.

How to buy and from whom to buy with your virtual assets

FAM Properties has tied up with Singapore exchange company Huobi to facilitate such transactions while Binance and other cryptoexchanges have set up bases in the UAE.

The most well-known Dubai developers are ready to offer real estate to cryptocurrency holders. Among them are Emaar Properties, DAMAC Properties, Select Group, Dubai Properties, Meraas, Fam Properties and MAG Lifestyle Development. But an important condition is the co-operation with only licensed real estate agencies, brokers and trading companies with an impeccable reputation.

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Emaar Beachfront is one of the properties you can buy with cryptocurrency.

The following projects have been listed as of December 2021 that can be bought with cryptocurrency, although the list has widened much more since:

  • Emaar Beachfront by Emaar Properties, located between the Palm Jumeirah and Mina Seyahi
  • Bulgari Residencies, located on Jumeirah Bay Island, is a complex by Meraas
  • Port De La Mer, also by Meraas, in Jumeirah 1 area
  • Cavalli Tower, a project by Damac Properties, on Dubai Marina

Business

UAE denies claims of restrictions on investor funds, reaffirms open economy policy

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The UAE has firmly dismissed reports circulating on social media that suggest restrictions on investor funds, calling the claims inaccurate and misleading.

Officials clarified that there are no limits on the movement of capital or on foreign investors’ ability to manage and transfer their money. Authorities stressed that the country remains committed to maintaining an open, business-friendly environment aligned with international standards.

Commitment to investor confidence

The Ministry of Economy and Tourism reiterated that the UAE continues to support the free flow of capital, a key pillar in attracting global investment and ensuring long-term economic stability.

Officials emphasised that policies remain unchanged, reinforcing the country’s reputation as a reliable and transparent destination for businesses and investors.

Dubai reaffirms its position

In a statement shared on X, the Dubai Media Office also rejected the circulating claims, describing them as false. It highlighted that Dubai continues to stand as a leading global hub for business and investment, supported by a strong and resilient economy.

Call for accurate information

Authorities have urged the public and media outlets to rely on official sources when seeking information, warning against the spread of unverified claims online.

The clarification comes as the UAE contåinues to strengthen its position as a global financial and investment centre, built on openness, stability, and investor confidence.

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How UAE’s new banking plan will support businesses and individuals

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The Central Bank of the UAE has rolled out a new financial support package designed to keep banks strong and ensure they continue supporting and safeguarding the broader economy amid global and regional uncertainty.

The package was endorsed during a high-level board meeting chaired by Sheikh Mansour bin Zayed Al Nahyan, underscoring the UAE leadership’s proactive approach to maintaining economic stability.

Built around five key pillars, the initiative is designed to provide banks with greater liquidity, enhanced flexibility, and temporary regulatory relief, ensuring they can continue to support businesses and individuals during uncertain times.

Under the new measures, banks will gain expanded access to liquidity, including the ability to utilise reserve balances and secure term funding in both dirhams and US dollars. This step is expected to keep credit flowing across key sectors of the economy.

The Central Bank has also introduced temporary easing of liquidity and funding requirements, giving financial institutions more room to continue lending. Capital buffer requirements will be relaxed as well, allowing banks to deploy excess capital to support economic activity.

Additionally, new provisions will offer greater flexibility in managing credit risk, including delaying the classification of certain loans affected by current market conditions—providing relief to borrowers facing temporary challenges.

Authorities emphasised that banks are expected to maintain lending and continue supporting customers as part of the UAE’s broader economic response strategy.

Despite global pressures, the UAE’s financial system has shown strong resilience. During its meeting, the Board confirmed that current market conditions have had no significant impact on the health of the banking sector or the efficiency of payment systems.

The Central Bank also highlighted the country’s robust financial position, with foreign exchange reserves exceeding AED 1 trillion and a strong monetary base. The UAE’s banking sector, valued at over AED 5.4 trillion, continues to demonstrate solid fundamentals.

With liquidity levels remaining high and reserves strong, the CBUAE reaffirmed its readiness to take further action if needed to protect financial stability and sustain economic growth.

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Business

Explained: Dubai’s new law on administrative violations, fines and penalties

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Dubai has introduced a new legal framework governing administrative violations, penalties, and enforcement measures across government entities.

Issued by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Law No. (6) of 2026 aims to make enforcement fairer, more transparent, and consistent across the emirate.

Here’s a simple breakdown of what the law means.

What is the purpose of the law?
The law creates a unified framework for handling administrative violations and penalties across Dubai government entities. It is designed to ensure enforcement actions respect fairness, transparency, accountability, and legality while protecting public services and community interests.

How are violations classified?
Administrative violations must now be clearly defined by the competent authority and are classified into three categories:

  • Minor violations
  • Moderate violations
  • Serious violations

This classification helps authorities apply appropriate penalties based on the severity of the offence.

What penalties can authorities impose?
Government entities may apply several administrative measures depending on the violation, including:

  • Warnings to correct the issue
  • Temporary closure of a business (up to six months)
  • Permanent closure of an establishment
  • Cancellation or modification of licences or permits
  • Suspension of projects, activities, or transactions

How will fairness be ensured?
The law requires penalties to be proportionate to the violation and consider factors such as:

  • Whether the violation was intentional or accidental
  • Repeated violations
  • Damage caused
  • Whether the offender took steps to fix the issue early

What are the procedures before penalties are announced?
Authorities must follow strict procedures before publishing violations:

  • Approval from the Director General of the government entity
  • Coordination with the Government of Dubai Media Office for public announcements

When does the law take effect?
The law comes into force immediately after publication in the Official Gazette. Any conflicting provisions in previous laws will be cancelled.
Officials say the law will help standardise enforcement practices across Dubai, prevent misuse of authority, and increase compliance with regulations, ultimately improving governance and protecting public interests.

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