Task:                     

[07.035-ADGM] - CORP SUPPORT # APPLICATION TO REGISTER A VARIATION OF A LEASE

Purpose:             

If any of the terms to the least agreement change, a document evidencing the variation of the lease agreement can be filed with RA. If the lease agreement has been renewed, please register it as a new lease agreement (instead of filing an application to register a variation).

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 the lease still valid?

The lease variation cannot be lodged after the term of the lease (including as extended by any option to renew) has expired.

3) Are the parties to the lease still the same?

An instrument of lease variation may not add or remove a party to the lease.


Pay Attention:   

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

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

3)      The instrument of lease variation shall not–  (a) add or remove a party to the lease; or  (b) be lodged after the term of the lease (including as extended by any option to renew) has expired.

Submission:       

Online via the ADGM RA portal https://newreg.adgm.com/
Use the Application Form “Application to Register a Variation of a 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:

Instrument of lease variation. Note that the document must be fully executed (i.e., signed by both Landlord and Tenant).

 

Applicable Legislation:   

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KOUNTED Fees:

Please add the KOUNTED fees

ADGM Fees:      

USD 100

Fine:                     

Not applicable


LINKED FILES: