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10:00
01 january 2014
Home > Products > Services Catalogue > Services Details

Family Transfers

Service ID
4.5.11

Details
Transferring securities from an investor account to another account, is exercised in the case of a family relationship up to the second degree. 

Fees

0.002 (two per thousand) from the shares market value, minimum AED 25. (No. of shares*market value*rate)


Procedures
  1. Complete Transfer of Securities Form and Investor Signature Form
  2. Attach the required documents along with the Form
  3. Client Services Affairs Department will issue a voucher with the fees required to be paid by the investor
  4. An SMS will be sent to the Transferor & Transferee after the transfer is approved

Notes :

  • Ensure that the Investor Number in DFM for both the Transferor & Transferee are updated
  • Ensure that the transferred shares are available in the CSD account of the Transferor
  • The signature on the form should be authenticated by an accredited bank, a licensed broker at DFM, a listed company at DFM, or by your personal presence at DFM

Required Documents
  • Completed Transfer of Securities Form and Investor Signature Form
  • Valid copy of Passport /National ID of the Transferee & Transferor
  • Valid Copy of Family Book or Marasoom for (for UAE Nationals & Residents)
  • True copy of any other document if required(e.g. Birth certificate, Marriage Certificate)
  • In case of guardian (other than father): true copy of guardianship order issued by the court
  • In case of representative: true copy of a duly authenticated and valid Power of Attorney that contains a clear clause relating to ‘waiver in shares for itself or transfer of ownership pf shares to itself and to others.
  • Any document issued from other countries must be authenticated by the official authorities and the UAE Embassy in those countries


How to Apply?
• Register to DFM eServices on DFM Website and submit the request

FAQs

Transferring shares between accounts of two different investors are permitted only if there is a 2nd degree kinship between the transferor and transferee.

Special Deals off the market are also permitted provided the value of shares of the deal is AED10,000,000 million and above.