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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


  • Tick License from the Central Bank of the United Arab Emirates
  • Tick Business license
  • Tick Account Trustee Approval/Renewal Application Form
  • Tick Signing the requirements and instructions issued by the department to the account trustees

 

Procedures

Service Steps


  • Tick Submitting the application request and required documents through the E-services portal
  • Tick Reviewing and approving the application by the concerned sections in AjmanRe Department
  • Tick Payment of fees
  • Tick Final approval of the application by the concerned section in Ajman Department
  • Tick Receving the Escrow account trustee certificate

 

Fees

Service Fees


  • Tick 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).
  • Tick AED500.00 issuance of accreditation certificate for Escrow Account

 

Duration

7 Minutes


 

Channels

  • Customers Happiness Center:
    • Working hours: Monday to Thursday from 7:30 am until 3:30 pm , and Friday from 7:30 am until 12:0 pm
    •  location: Ajman and Masfoot
  • E-service portal


 

Apply Now

Apply Now

location
HQ

Al Imam Malik Bin Anas Street,
Al Jurf, Ajman, United Arab Emirates

customer
Customer Care

Phone: +971 6 703 8888, Fax: +971 6 703 8800
Email:info@ajmanre.gov.ae

working
Working Hours

Mon – Thu: 7:30 am–3:30 pm
Fri: 7:30 am – 12:00 pm