Task:                     

[07.034-ADGM] - CORP SUPPORT # APPLICATION TO REGISTER SURRENDER OF A LEASE

Purpose:             

If the lease agreement is surrendered, a document evidencing the surrender of the lease agreement should be filed with the ADGM RA. Upon approval of this application, the ADGM RA provides an email confirmation that the lease is surrendered, and the status appears on the public register accordingly.

Legal Entities:    

This applies to registered leases only

Questions:         

1) Do we have access to the client’s lease on our portal?

                                If not, we need to request this from the ORS Team at the ADGM RA.


2) Is a fully executed document evidencing the surrender of the lease available?

Without this, the Application to Register a Surrender of Lease cannot be filed on the ADGM RA portal.

Pay Attention:   

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

2)      There is a different application available for termination of a lease.

 Submission:       

Online via the ADGM RA portal https://newreg.adgm.com/

                               

Use the Application Form “Application to Register a Surrender of Lease”

Timeline:             

As soon as practicable, no prescribed timeframe

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:


A document evidencing the surrender of the lease.


Note that the document must be fully executed.

 

Applicable Legislation:   

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KOUNTED Fees:

Please add the KOUNTED fees

ADGM Fees:      

USD 100

Fine:                     

Not applicable

LINKED FILES: