Submitting false documents or information to obtain an authorisation for a valuation firm is a punishable violation. The fine for this offence is AED 10,000. Furthermore, if the firm is found practicing after the expiry of its authorisation without…
Submitting false documents or information to obtain an authorisation for a valuation firm is a punishable violation. The fine for this offence is AED 10,000. Furthermore, if the firm is found practicing after the expiry of its authorisation without a valid reason, it faces a monthly fine of AED 5,000, capped at AED 50,000. These penalties ensure that only vetted and compliant firms operate in the sector, protecting the accuracy of market valuations for the public.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
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