Sending CAD from a Canadian bank to Dubai's escrow, Coastal Haven example
How a wire transfer travels from a Toronto or Vancouver bank account to a project's escrow account in Dubai, the documents your bank will ask for, and Coastal Haven's 20/80 payment plan.
When you reserve a unit in Dubai from Toronto or Vancouver, your money never goes directly to the developer. It travels by international wire into an escrow account controlled by the Dubai Land Department (DLD), released against the payment plan set out in your contract. Coastal Haven, on Dubai Islands, is the one project in the Prestige One collection with a two-step plan: 20% at reservation and 80% at handover.
What to prepare before you wire funds
Your Canadian bank will ask you to document the source of funds before processing a significant international wire. Gather the paperwork that traces where the money comes from: account statements, proof of an asset sale, pay slips or a tax assessment, depending on your situation. Orven provides the official escrow account details for the project and the reservation contract, which states the exact amount due in UAE dirhams (AED). No conversion rate is fixed in advance; your own bank applies its own rate at the time of the transfer.
How the wire travels from your bank to the escrow account
An international wire from Canada follows the SWIFT network to a correspondent bank in the UAE, then to the designated escrow account for the project. The amount due is set in AED in your contract; your bank converts from Canadian dollars using its own rate and fees, which you should confirm directly since neither Orven nor the developer guarantees a rate. Keep the wire confirmation: it is one of the records your Orven adviser uses to confirm receipt of funds with the developer, alongside the DLD's public "Project Status Enquiry" service for tracking the project's progress.
Coastal Haven's 20/80 payment plan
The first instalment, 20% of the price, is due at reservation and accompanies the signing of the sale and purchase agreement. The remaining 80% is due at handover, when the title is registered in your name with the DLD. The starting price and exact handover date are confirmed on request by your adviser, since they are not published as fixed figures at this stage. Bank financing may be available for certain non-resident buyers, always subject to the lender's approval.
What stays with your own bank
Processing times, international wire fees, and any transfer limits depend entirely on your own bank: ask for an estimated timeline and the fees involved before instructing the transfer. Orven cannot guarantee or change these conditions, but can provide in advance the full set of details your bank needs: beneficiary name, IBAN or equivalent account number, SWIFT code, and your file reference, so the transfer is not delayed for lack of information.
ORVEN PROPERTIES
Talk to an Orven adviser
Leave your number: an adviser calls you back or replies on WhatsApp, in your language. No commitment.
Timing your transfer around the schedule
Because Coastal Haven's plan concentrates most of the price into two payments rather than several smaller ones, planning the timing of your second, larger wire matters more than it would on a three- or four-step plan. Speak with your bank well ahead of the handover-stage payment to confirm processing times and any documentation it may require for a larger transfer, so the funds arrive before the deadline set in your contract.
Moving forward with Orven
Before wiring funds toward Coastal Haven, ask your Orven adviser for the official bank confirmation letter for the escrow account and the full detail of your payment schedule, on WhatsApp at +971 52 776 1939 or by email at sales@orvenproperties.com. Our guides sending money to Dubai for a property purchase and checklist before wiring your reservation fee cover the full checklist. The invest from Canada page adds further context.
Keeping records for your own file
Keep a copy of every wire confirmation, the reservation contract, and any correspondence with your Orven adviser confirming receipt of funds. These records support both your own bookkeeping and any future conversation with your accountant about how the purchase should be reported in Canada.
FAQ
Can I pay directly in Canadian dollars? The contract price is set in AED. Your bank converts your Canadian dollars at its own rate at the time of transfer; no conversion is guaranteed by Orven.
How long does a wire from Canada to the escrow account take? It depends on your bank and the banking corridor used. Ask for an estimated timeline before instructing the transfer, especially close to a payment deadline.
Do I need to justify the source of funds every time I pay? Verification requirements vary by institution and amount. Prepare your documentation for every significant wire, not only the first one.
What happens if a Coastal Haven instalment is late? The consequences of a late payment are set out in the sale and purchase agreement. Your Orven adviser helps you plan each instalment well ahead of its due date.
Can Orven recommend a specific Canadian bank? No. Orven provides the information needed to instruct the wire, but the choice of institution and its terms remain part of your own banking relationship.
ORVEN PROPERTIES
Talk to an Orven adviser
Leave your number: an adviser calls you back or replies on WhatsApp, in your language. No commitment.
Frequently asked questions
Can I pay directly in Canadian dollars?
The contract price is set in AED. Your bank converts your Canadian dollars at its own rate at the time of transfer; no conversion is guaranteed by Orven.
How long does a wire from Canada to the escrow account take?
It depends on your bank and the banking corridor used. Ask for an estimated timeline before instructing the transfer, especially close to a payment deadline.
Do I need to justify the source of funds every time I pay?
Verification requirements vary by institution and amount. Prepare your documentation for every significant wire, not only the first one.
What happens if a Coastal Haven instalment is late?
The consequences of a late payment are set out in the sale and purchase agreement. Your Orven adviser helps you plan each instalment well ahead of its due date.
Can Orven recommend a specific Canadian bank?
No. Orven provides the information needed to instruct the wire, but the choice of institution and its terms remain part of your own banking relationship.
Continue reading
Payment plans
Paying a Dubai developer from a bank account abroad: the compliance steps
What happens when you pay a Dubai developer from an account held abroad: AED pricing, the escrow account, the documents the bank and developer request, and why there is no crypto or third-party payment shortcut.
Read the guide →
Payment plans
Transferring from a Mauritian bank to a Dubai project's escrow account
How a payment moves from a Mauritius-based bank to the escrow account of a Hilton Residences unit in Dubai: documents expected, currency, and what to confirm with your own bank.
Read the guide →
Payment plans
Paying for Batumi Property from Israel
Batumi prices are published in US dollars or Georgian lari, exactly as shown, with no fixed conversion applied. What your bank will ask for, and the NAPR registration fees to expect.
Read the guide →
Payment plans
Dubai Payment Plans for an Israeli Buyer, Compared
Coastal Haven's 20/80, Hilton Residences and FAUCHON's 20/40/40, Luxury Canal and Sanctuary's 20/45/35, Golf Residences' 20/20/60: the Prestige One plans, with amounts per AED 2 million.
Read the guide →INVESTOR GUIDES