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01 january 2014
Home > Products > Services Catalogue > Services Details

Transfer of Securities from one Investor to Another

Details
This service enables the transfer of securities from the Manager Fund to a Sub-Fund (or vice versa), between Sub-Funds under one Manager Fund, or due to a Merger/Acquisition.


For more information on this service, please contact:
DFM Customer Services
T: +971 4 305 5555
E: customerservice@dfm.ae

Fees
  • AED 0.002 (two per thousand) from the shares market value, with a minimum of AED 25 (No. of shares*market value*rate)
  • AED 0.0002 (two per ten thousands) for Bonds & Sukuk, with a minimum of AED 25 (No. of units*Unit Value/100*market value*rate) per transaction

Procedures
  1. Complete the Transfers Form which should be signed and verified by both parties along with their proof of identity documents
  2. Submit all required documents for the transfer to the Client Affairs Department and  both Investor Numbers (NINs) of the Transferee and Transferer must be updated
  3. A Receipt will be issued to the investor to pay the fees 
  4. The Client Affairs Department will check that all requirements are in place and ensure that the securities are held in the CSD and not in the brokerage firms account; if the latter, the broker is to be addressed to transfer the securities from their account to the CSD account)
  5. A payment voucher will be issued and the securities will be transferred as per the request

Required Documents
  • A valid copy of the Memorandum of Association, Business License and Commercial Registry
  • A valid copy of the Passport related to the authorized signatory or agent
  • A valid copy of the National ID related to the authorized signatory or agent
  • Other documents required for verification in the case of a Power of Attorney
  • A notarized copy of the Power of Attorney together with the agent’s National ID


Power of Attorneys issued abroad, should be notarized by the relevant authorities and UAE embassies in these countries.


How to Apply?
Online through DFM eServices or in person at the DFM Client Affairs Department, Trading Floor, World Trade Centre, Dubai