Task:                     

[07.037-ADGM] - CORP SUPPORT # APPLICATION TO REGISTER A LEASE (Long-term Lease)

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?

                     Duration of a lease agreement is 10 years and above.

2) Is the lease for a real property located in any of the below?

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

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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 short-term and subleases

 

Submission:       

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

                               

Use the Application Form “Application to Register a Lease”

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

- 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:      

2% of annual average rent (2% of the rent fee payable for a period of 12 months of the lease term calculated either on average rent payable per square meter/foot calculated over the entire period of the lease term in the absence of a clearly defined rent fee, or, 2 percent of the rent payable for 12 months of the lease term, if the rent is clearly defined.)

Fine:                     

Not applicable


LINKED FILES: