Offshore Account

An offshore or non-resident account refers to a bank account held in the UAE by an individual who does not reside in the country. In a mortgage context, these accounts are typically used by foreign investors or expats living abroad to manage property-related payments and financing.

Such accounts may be used to support mortgage applications, receive rental income, or facilitate repayments. The salary or primary income is usually held outside the UAE, and repayments are made through transfers or direct debit arrangements.

Requirements, features, and access to mortgage products may differ for non-residents, and are generally subject to stricter documentation and approval criteria. The exact structure, eligibility, and usage may vary depending on the bank and applicable regulations