Appointing a Power of Attorney (POA) When Buying a Property in Dubai

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Holo Team

2023-07-31T05:12:03.155Z


Both arranging a mortgage in Dubai and buying a property can be a time-consuming process. It can be even more stressful if you need to travel while various details of the transaction need to be finalized. Appointing a Power of Attorney (POA) leaves you free to travel in and out of the UAE for business or pleasure, while a nominated individual acts on your behalf to keep things moving.

Holo offers POA solutions in addition to our digital mortgage services. Power of Attorney is a legal document that enables a person, known as the 'principal', to appoint someone else, known as the 'agent', to act on their behalf. The agent can carry out tasks such as signing documents relating to your mortgage loan application and your property purchase as specified by the principal.

Who can you appoint as Power of Attorney?

You can appoint a nominated individual as Power of Attorney, or a company. You should be 21 years old and of sound mind to sign powers of attorney.

Our team will facilitate the drafting, translating, and attesting of POA for use across the UAE, leaving you with the peace of mind, that in your absence, everything's still proceeding as it should be.

How long does it take to implement a POA?

Subject to availability, we can facilitate same-day online appointments with the POA documentation issued the next day.

What POA services do you offer?

Holo offers POA services as a standalone service and as an add-on if you are using Holo as your conveyancer. Our POA services are competitively priced from just AED 2,500 AED + VAT.

Typically the cost of preparing and attesting a POA in Dubai costs AED 3,000 while appointing a business to act as your representative can cost up to AED 6,000. Holo is bringing POA services to the market at a reduced price point to keep the costs of your property transaction down.

Our services include:

1) Drafting, translation, and attesting of a POA between you and a representative costs AED 2,500 AED + VAT.

2) If you want Holo to act as your representative and assume Power of Attorney on your behalf, our fees start at 4,500 AED + VAT.

3) If you are currently working with Holo as the conveyancer on your property purchase, the fee for Holo to act as your representative and nominated Power of Attorney is reduced to just 3,000 AED (on top of your conveyancing fee).

If you need our POA services, speak to your case manager. They will be happy to walk you through your options.
Alternatively reach out to us and have a chat.

Why use Holo?

Holo offers a mortgage calculator and an online mortgage application. Using an online mortgage calculator in Dubai will help you understand how much you could borrow. When you make an application with Holo, one of our dedicated mortgage advisors will be assigned to your case to answer all your questions.

Our digital mortgage platform has access to over 500 mortgage products from across the UAE's banks and our team of mortgage specialists is on hand to make the process as smooth as possible.

Ready to start your journey toward owning a home? Let's get started!