Which business property practitioners qualify for a trust exemption?

The Property Practitioners Regulatory Authority (PPRA)
The Property Practitioners Regulatory Authority (PPRA) primary mandate includes, among others, regulating the affairs of all property practitioners; allowing for transformation in the property sector and to ensure consumer protection against undesirable practices and conduct of property practitioners.

1. Business property practitioners that have never received trust monies

2. Business property practitioners that no longer receive trust monies

3. Business property practitioners that mandates Payment Processing Agents to handle all their trust monies, provided:

  • The Payment Processing Agent is registered with the PPRA and has a valid FFC;
  • The Payment Processing Agent operates a trust account environment that complies with the PPA
  • The Payment Processing Agent is audited annually and submits the 3 required reports to the PPRA
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