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Commercial Business Mortgage
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
- Customers can log in to Dubai Trade Portal
- Navigate to “Registration” and select “Mortgage or Pledge- Approval.”
- Select ‘New Commercial Mortgage, ‘Change Commercial Mortgage,’ or ‘Cancellation of Mortgage – Commercial Mortgage’ to submit a request for the corresponding service required.
Documents Required
A. New Commercial Mortgage
- Resolution regarding Commercial Business Mortgage (to be signed in Jafza) written on FZE’s/FZCO’s Letterhead.
- New Commercial Business Mortgage Application (to be signed in Jafza)
- Power of Attorney from the Bank and Company with Passport copy of Power of Attorney (POA) holders
- Mortgage Facility Contract, including List of Machineries duly notarised by Dubai Court.
- Letter from the Bank regarding the commercial Mortgage.
- License Copy of the Bank
B. Amend Share Pledge
- Amend Commercial Mortgage Application signed by the authorised signature (to be signed in Jafza).
- Letter from Bank to be signed by Power of Attorney (POA) holder
- Mortgage Facility Contract, including List of Machineries duly notarised by Dubai Court.
- Power of Attorney from both Parties with the Company & the Bank notarised and attested Passport copy of Power of Attorney (POA) holders.
- Original Commercial Mortgage Certificate.
C. Release/Cancellation of Commercial Mortgage
- Release of Commercial Business Mortgage Application must be signed before the Jafza Registrar.
- Power of Attorney from both parties with the Company & the Bank notarised and attested Passport copy of Power of Attorney (POA) holder.
- Original commercial mortgage certificate.
- Request letter from the Bank duly signed by the Power of Attorney (POA) holders
- Request letter from Company duly signed by Power of Attorney (POA) holders’ signatory
Fees
New
| Mortgage Certificate | AED 200 |
| Commercial Mortgages | AED 500 |
| Specimen Signatures (each). | AED 50 |
Amend
| For issuing NOC letter to Court | AED 200 |
| Mortgage fees | AED 500 |
| Commercial mortgage certificate fees | AED 200 |
| specimen signatures (each) | AED 50 |
Cancellation
| Release letter | AED 200 |
Notes
The Registrar reserves the right to call for any extra documents if necessary.
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