Task:                     

[02.004-ADGM] REGISTRATIONS: COMPANY LEASE (Short-Term and Sublease)

Purpose:             

The lease agreement of properties located on Al Maryah Island must be registered with ADGM RA within 28 days of the date on which the lease is entered into. A copy of the full lease agreement or a memorandum of lease must be provided at the time of the registration. Note that license to occupy or agreement for virtual office/mailbox package are not required to be registered.


Legal Entities:    

The registration is typically completed by the tenant, office lease agreements are required for all ADGM operational companies/partnerships


Questions:         

1) What is the duration of the lease agreement?

     Short-term: Duration of a lease agreement is less than 10 years.

2) Is it a lease or sublease:

a) Lease

Landlord is any (but not limited to) of the following:

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b) Sub-lease


Sub-lease registration applies if the duration of the lease agreement is less than 10 years and the Landlord is any of the ADGM registered entities or business centers or providers of registered office addresses such as:

·         Regus Business Centre

·         Bloom Business Centre

·         WeWork

·         Cloud Spaces


If the client’s landlord is not any of the above, please ask the client to inquire with the landlord in relation to the valid head lease registered number.

Pay Attention:   

1)      Note that leases in Al Reem Island must be registered via a different process, not on the ADGM RA portal.

2)      A different payment structure and process applies to long-term leases

 

Submission:       

Timeline:             

Within 28 days from the date of Execution of the lease agreement


Timeframe:        

KOUNTED 2-3 working days including drafting the online application, provided all the relevant information has been provided

ADGM: Typically the review time ranges between 3-5 working days, subject to the review process of the ADGM RA, which is beyond the control of KOUNTED


Supporting documents:

- Fully executed (i.e., signed by both Landlord and Tenant) Lease Agreement

- Floor Plan – This is usually annexed to the lease agreement and only required for leases, not sub-leases

- Passport Copy (if the tenant is an individual)

- Commercial License or Certificate of Incorporation/Registration (if the tenant

   is a body corporate and not registered in ADGM)


Applicable Legislation:   

KOUNTED Fees:

Please add the KOUNTED fees

ADGM Fees:

Registration fee of USD 100 per lease year (noting that there is no pro-rata calculation)

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Fine:                     

Not applicable

 

LINKED FILES: