Fractional ownership has emerged as a popular investment model in the real estate industry, offering you the opportunity to invest by purchasing just a part of a property.
PRYPCO Blocks, a platform that facilitates fractional ownership in the United Arab Emirates (UAE), operates within a regulatory environment designed to ensure transparency, security, and investor protection.
This blog aims to provide insights into the regulatory framework governing fractional ownership in the UAE and how PRYPCO Blocks navigates this landscape effectively.
Regulatory compliance
PRYPCO Blocks operates as a Property Investment Crowdfunding Platform with a commercial licence regulated by the Dubai Financial Services Authority (DFSA). Our operations are subject to strict regulatory oversight and compliance with the DFSA’s regulations and guidelines.
Investor Protection
Know Your Customer (KYC) procedures
We prioritise investment protection at PRYPCO Blocks by establishing Know Your Customer (KYC) measures. These procedures ascertain the identity and eligibility of prospective investors.
In addition, we have implemented transparent and accurate disclosure mechanisms, ensuring investors like you have access to critical information. To further demonstrate our dedication to defending your rights and interests, we strictly follow consumer protection legislation.
Safeguarding your investments
We go the extra mile to safeguard your investments by securing them through protected holding companies, known as Special Purpose Vehicles (SPVs), within the Dubai International Financial Centre (DIFC), that you have ownership of.
Basically, you own the property through an SPV. This setup establishes a legal barrier between PRYPCO Blocks and your assets, offering an additional layer of security and granting you peace of mind.
Even if PRYPCO Blocks ceases to exist, your property won’t be affected.
Preventing illicit financial activities
Robust AML
In addition to other regulatory requirements, PRYPCO Blocks adheres to the country’s anti-money laundering (AML) regulations. That is, PRYPCO Blocks performs thorough due diligence on clients and verifies that transactions are legal and do not involve any illicit activities.
Politically Exposed Person (PEP)
A PEP, or politically exposed person, is someone who holds a prominent public position or has ties to individuals in such positions. Due to their potential vulnerability to corruption, money laundering, or other illicit activities, PEPs are considered high-risk individuals.
At PRYPCO Blocks, we undertake investor screening and identity verification to prevent PEPs from conducting business with us.
PRYPCO Blocks operates within a robust regulatory framework aimed at ensuring transparency, security, and investor protection. Start investing in real estate from only AED 500.
