Application for registration of an initial usufruct
Application for registration of an initial usufruct

Description

This service allows the developer to register the usufruct (long term rent) for the benefit of the beneficiary.


Service Form

Not Applicable


Required Documents

Individuals
1- A copy of the sale and purchase contract
2- A copy of a valid Emirates ID
3- A copy of a valid passport for non-residents
4- A copy of the developer's request (DSR)
Companies (Individual Foundation)
1- A copy of a valid commercial license
2- A copy of the Emirates ID or the passport of the owner of the license
3- Power of attorney, if any

(Limited liability companies)
1- A valid copy of the commercial license
2- A copy of the Emirates ID or the passport of the owner of the license
3- Power of attorney, if any
4- A copy of the company’s articles of association and its appendices (translated into Arabic with legal translation)
5- A copy of the shareholders' certificate

A Company Outside the UAE (provided that the names of the shareholders are mentioned)
1- A valid copy of the commercial license
2- A copy of the national ID or passport of the owner of the license
3- Power of attorney, if any
4- A copy of the company’s articles of incorporation and its appendices translated (legal translation into Arabic) and certified by the Ministry of Foreign Affairs
5- No objection letter from free zones in case of purchase, valid for one year
6- A copy of the shareholders' certificate

GCC Company
1- A copy of a valid commercial license
2- A copy of the national ID or passport of the owner of the license
3- Power of attorney, if any
4- A copy of the company’s articles of incorporation and its appendices translated (legal translation into Arabic) and certified by the Ministry of Foreign Affairs
5- A copy of the shareholders' certificate


Service Terms

1- The property must be in the permitted areas
2- The start and end date of the usufruct must be specified
3- The end date of the usufruct for the sold unit must be similar to the end date of the usufruct on the land.


Service Fees

Seller: 2% of the sale value
Buyer: 2% of the sale value
AED 10 Knowledge fees per fee
AED 10 Innovation fees per fee


Service Procedures

Step 1: Enter Oqood portal and choose the initial usufruct registration service
Step 2: Fill in the information, attach the documents and choose the payment method
Step 3: Submit the application electronically
Step 4: Receiving the document through a message on the beneficiary's e-mail.



Payment Method

Noqodi
Deduction from Trust account



Service Channels

Oqood Portal- Real Estate Developers Portal



Issued Documents

Usufruct registration certificate



Service Time

4 working Days