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Ajman Live
Accreditation Of Escrow Accounts
It is a service that allows all financial institutions in the country that provide management services for escrow accounts for real estate development projects and maintenance accounts for main and subsidiary properties to submit a request to be approved or renew their accreditation as account custodian for freehold real estate projects registered with the department.
Required Documents
Required Documents for Business
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License from the Central Bank of the United Arab Emirates -
Business license
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Account Trustee Approval/Renewal Application Form
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Signing the requirements and instructions issued by the department to the account trustees
Procedures
Service Steps
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Submitting the application request and required documents through the E-services portal
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Reviewing and approving the application by the concerned sections in AjmanRe Department
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Payment of fees
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Final approval of the application by the concerned section in Ajman Department
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Receving the Escrow account trustee certificate
Fees
Service Fees
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AED75,000.00 annual fees for the accreditation for Escrow account of the real estate projects and the accreditation of the Escrow Account for the Owners' Association (new and renewal).
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AED500.00 issuance of accreditation certificate for Escrow Account
Duration
7 Minutes
Channels
- Customers Happiness Center:
- Working hours: Monday – Thursday: 7:30 am–5:00 pm , Friday: 7:30 am – 12:00 pm , Saturday: 9:00 am – 12:00 pm
- location: Ajman and Masfoot
- E-service portal
HQ
Al Imam Malik Bin Anas Street,
Al Jurf, Ajman, United Arab Emirates
Customer Care
Phone: +971 6 703 8888, Fax: +971 6 703 8800
Email:info@ajmanre.gov.ae
Working Hours
Mon – Thu: 7:30 am–5:00 pm
Fri: 7:30 am – 12:00 pm
Sat: 9:00 am – 12:00 pm
