Dubai has come a long way in real estate development and consequently recognized the need to adopt investor-friendly regulations to protect all real estate stakeholders. The “Real Estate Projects Trust Account” Course introduces the Trust Account Agent to be educated on the step-by-step process for opening trust accounts, the proper and legal fundamentals behind managing the accounts, and the guidelines associated with releasing the funds to the relevant parties.
Course Outline
- Law no.8 of 2007 and Trust Account Regulations governing the trust account
- Escrow account activation application
- Apply for an escrow account transfer
- Application for Project profit withdrawal
- Amendment of the cap of administrative, marketing, and VAT expenses application
- Request to Receive a Payment from the Project's Escrow Account
- Registration of real estate project application
- Request for real estate project Cancellation
- Change of project developer application
- Request for Sub-division
- Changing the name of a real estate project application
- Project re-registration application
- Depositing a mortgage into an escrow account application
- Request for Bank Guarantee Cancellation
- Audit Scope of Project Books (Revenue and Cost Statement) and Account Trustee’s
- Approval/renewal of an Account Trustee and Auditing Company Application
- Cancel of Account Trustee and Auditing Company Application
- Project Bank guarantees management
Program Objectives;
- We are providing the expertise needed by involved bank officers in order to handle such accounts and prepare financial reports.
- Building a full image of the process of account opening, managing, and closing.
- Gaining skills and being familiar with preparing the project financial reports using different tools and techniques.
