**Notice in regards to Jebel Ali Free Zone and UAE Corporate Tax Law**
Jebel Ali Free Zone and UAE Corporate Tax Law.
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Assignment of Lease

The Customer may mortgage the Company’s assets (real estate, commercial, shares) to obtain financing from a lender. The Customer has the option to amend, renew and release their Mortgage.

Process Steps

  1. Customers can log in to Dubai Trade Portal
  2. Navigate to “Registration” and select “Mortgage or Pledge- Approval.”
  3. Select ‘New Lease Assignment Mortgage’, or ‘Cancellation of Mortgage – Lease Assignment Mortgage’ to submit a request for the corresponding service required.

Documents Required

  • Owner’s declaration written on FZE’s/FZCO’s letterhead to be signed before Jafza.
  • Report from Civil Engineering. (Completion must be less than 75%).
  • Covenant letter from the Bank (Available in Jafza.ae – Customers- Forms & E services – Commercial) to be signed before Jafza.
  • Request letter from Bank duly signed by the Power of Attorney (POA) holder.
  • Power of Attorney from both Parties of the Company & the Bank notarised and attested with a Passport copy of Power of Attorney (POA) holder.
  • License Copy of the Bank
  • Letter from Company regarding Release Assignment of Lease Written on FZE’s/FZCO’s Letterhead.
  • Request letter from Bank duly signed by the Power of Attorney (POA) holder.
  • Power of Attorney from both Parties the Company & the Bank notarised and attested with Passport copy of Power of Attorney (POA) holder

Fees

New

For the letterAED 500
specimen signatures (each)AED 50
Cancellation – Release letterAED 500

Notes

The Registrar reserves the right to call for any extra documents if necessary.

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Processing Time

3-5 working days

Access control

This service requires portal access on Dubai Trade by a company administrator

Need more information?

Visit Dubai Trade, our service arm to help resolve any question you may have regarding Jafza.

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