Property Developers – What you need to know
The most significant impact Law 27 (2017) will have on property developers (master developers and sub-developers) is in the areas of:
- Licencing Requirements
- Sales Process with Buyers
- Enforcement of Escrow Accounts
Anti-Money Laundering
Real Estate Professionals are required to comply with Law No 4 of 2001 concerning the Prohibition of Money Laundering. The Ministry of Industry, Commerce and Tourism has published Guidelines and Forms relating to AML: