FTA updates warehouse keeper Designated Zone guide
The UAE FTA has released a new version of the warehouse keeper and Designated Zone user guide. The new version of the guide contains significant additions, with practical screen shots to assist with actioning the requirements..
The FTA has mandated that Designated Zone registration must be renewed annually. If the registration is not renewed, it will expire and the Designated Zone status will be voided.
To renew the registration, the Amendment of the Designated Zone registration application, including the Valuation and Financial Security section must be completed. A renewal fee of AED 2,000 must be paid, and the FTA may require an updated financial guarantee.
If the Designated Zone is not renewed by the due date, or the renewal payment is not made, the Designated Zone will become suspended and the Designated Zone number will be locked. If payment is not received within 20 days after the suspension, the Designated Zone will expire and the warehouse keeper will have to re-register a new Designated Zone.
As the consequences of non-renewal of the Designated Zone status are significant, it is important for affected businesses to plan and ensure appropriate action is taken.
This process is still new and businesses should anticipate that there may be delays in the process, and therefore that they consider commencing the renewal process early.