Obtaining a DFM Investor Number (NIN) is crucial for anyone looking to invest in Dubai’s financial market. The NIN is a distinctive identification number given to each investor by the Dubai Financial Market (DFM), enabling them to trade in the DFM and Nasdaq Dubai listed securities. In this article, we will walk you through each step needed to get a DFM Investor Number.
There are three ways to obtain a DFM Investor Number. The first is through the DFM mobile app, which is available to download for iOS and Android devices. The second is by visiting the Dubai CSD Investor Affairs desk at the DFM trading floor, and the third is through a DFM licensed brokerage. It is essential to note that the DFM requires investors to have a valid Emirates ID and a bank account in the UAE to obtain an NIN.
To apply for a DFM Investor Number through the DFM mobile app, investors must first download the app and create an account. Once the account is set up, investors can navigate to the Investor Services section of the app and select the ‘Apply for Investor Number’ option. The app will then guide investors through the necessary steps to complete the application process.
Understanding the DFM Investor Number
The DFM Investor Number (NIN) is a unique identification number that is assigned to every investor interested in trading securities that are traded on the Dubai Financial Market (DFM) and Nasdaq Dubai. The NIN is essential for investors who want to trade in the UAE stock market.
To obtain the DFM Investor Number, investors must register with the DFM Investor Affairs Department. The registration process requires submitting certain documents, including a valid Emirates ID, a copy of the investor’s passport, and a bank statement.
Once the registration process is complete, investors will receive their Investor Number via SMS. The Investor Number is a 10-digit number that is unique to each investor and is used to identify the investor in all transactions related to the DFM.
It is important to note that the DFM Investor Number is non-transferable and can only be used by the investor to whom it was assigned. Investors must keep their Investor Number safe and secure and should not share it with anyone else.
Investors wishing to trade in DFM and Nasdaq Dubai listed securities must obtain separate Investor Numbers for each exchange. The process of obtaining an Investor Number for Nasdaq Dubai is similar to that of the DFM.
The DFM Investor Number is an essential identification number for investors wishing to trade securities listed on the DFM and Nasdaq Dubai. The process of obtaining an investor number requires the submission of certain documents that are non-transferable. Once obtained, investors must keep their Investor Number safe and secure and should not share it with anyone else.
Eligibility Criteria
To apply for a DFM Investor Number, certain eligibility criteria must be met. The following are the requirements to be eligible for a DFM Investor Number:
- The applicant must be at least 21 years old.
- The applicant must have a valid UAE residency visa.
- The applicant must have a valid Emirates ID.
- The applicant must have a bank account in the UAE.
It is important to note that only individuals can apply for a DFM Investor Number. Companies or organizations cannot apply for a DFM Investor Number.
Additionally, applicants must have all the necessary documents and information before applying for a DFM Investor Number. These documents may include:
- Valid Emirates ID
- Valid UAE residency visa
- Bank account details
- Contact information, including email and phone number
- Signature
Applicants must also ensure they have a fundamental grasp of trading and the stock market before applying for a DFM Investor Number. This will help them make informed decisions when investing in stocks and securities.
In summary, to be eligible for a DFM Investor Number, an applicant must be at least 21 years old, have a valid UAE residency visa and Emirates ID, and have a bank account in the UAE. Additionally, applicants must have all the necessary documents and information and a basic understanding of the stock market and trading.
Required Documents
To apply for a DFM Investor Number, there are certain documents that you need to provide. The documents required may vary depending on the type of investor, whether an individual or a corporate entity. Below is a list of some of the documents that are commonly required:
- For Individuals:
- Emirates ID copy
- Passport copy (for non-UAE nationals)
- Bank account details
- Proof of address (utility bill, tenancy contract, etc.)
- Income proof (salary certificate, bank statement, etc.)
- Investor Declaration Form
- For Corporate Entities:
- Trade license copy
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Board resolution authorizing the investment
- Authorized signatory list
- Emirates ID copy of authorized signatories and shareholders
- Passport copy of authorized signatories and shareholders (for non-UAE nationals)
- Bank account details
- Proof of address (utility bill, tenancy contract, etc.)
It is important to note that these are not the only documents that may be required, and additional documents may be requested as per the DFM’s regulations. Therefore, it is advisable to check with the DFM or a licensed brokerage firm to confirm the exact documents required for your specific case.
To further prevent any delays in the application process, it is advised to confirm that all documents are current and valid before submitting them.
Step-by-Step Registration Process
Becoming an investor at the Dubai Financial Market (DFM) requires registering for an Investor Number (NIN). The registration process is straightforward and can be finished online via the DFM website. Here is a step-by-step guide on how to register for an NIN.
Create an Account
To begin the registration process, the investor must create an account on the DFM website. For the account creation process, basic personal information such as name, email address, and phone number are required. The investor can log in and continue the registration process after creating the account.
Fill Out the Application Form
After logging in, the investor must navigate to the eFORMS tab and fill out the Investor Number Request form. The form requires the investor’s personal information, including name, date of birth, nationality, and Emirates ID number. The investor must also provide information about their bank account and trading member.
Submit Required Documents
The investor must attach the required documents to the application form. The required documents include a copy of the investor’s Emirates ID, a bank statement, and a no-objection letter from the bank. The no-objection letter must state that the investor can invest in the stock market.
Payment of Fees
The investor must pay the registration fee Upon submitting the application form and required documents. The registration fee is AED 200 and can be paid online via the DFM website.
Once the registration fee is paid, the investor will receive their Investor Number via SMS. The investor can then begin trading on the DFM platform.
Verification and Activation
Once the application for the DFM Investor Number (NIN) has been submitted, the applicant will receive a notification via SMS or email with their NIN. The verification process takes approximately one business day.
To activate the NIN, the investor must link it to their trading account. This can be done by visiting the investor affairs desk at the Dubai CSD, Dubai Financial Market, Ground Floor, Dubai World Trade Centre. The desk is open from 8:00 to 4:00, Monday to Friday. Alternatively, investors can activate their NIN via the DFM app or website.
It is important to note that the investor Card is a unique “pre-paid” debit card, credited with funds including any dividends from DFM listed companies and cash “top-ups” to make purchases. To activate the iVESTOR Card, investors must follow the activation instructions provided on page 2 of the Investor CARD User Guide.
If the investor encounters any issues during the verification or activation process, they should contact the Investor Affairs Desk at +971 305 5555 or via email at [email protected] for assistance.
Managing Your Investor Number
Once you have received your DFM Investor Number, it is important to keep your personal information up to date and secure. This section will cover how to update your personal information and reset your password.
Updating Personal Information
Go into your DFM account and select “My Profile” to make changes to your personal data. You can then modify the phone number and email address in your contact details. It is important to keep this information up to date so that you can receive important notifications about your account and trading activity.
Resetting Your Password
If you forget your password or need to reset it for security reasons, click the “Forgot Password” link on the login page. You will be asked to enter your registered email address and DFM Investor Number in order to get a link to reset your password. To reset your password, adhere to the guidelines provided in the email.
Choosing a strong password and keeping it secure is important. Steer clear of passwords that are simple to figure out, like “password” or “123456.” Select a mix of characters, digits, and symbols as an alternative, and refrain from using the same password across several accounts.
Following these simple steps, you can manage your DFM Investor Number and secure your personal information.
Frequently Asked Questions
What is the process for obtaining an investor number with Dubai Financial Market?
To obtain an investor number with Dubai Financial Market (DFM), an individual can apply through the DFM App, the DFM website, or a licensed trading member at the DFM. The process may involve providing personal information and documentation to verify identity.
Can I apply for a DFM investor number through their online platform?
Yes, applicants can apply for a DFM investor number through the DFM App or the DFM website. The process involves filling out an application and providing personal information as well as documentation to verify identity.
What documents are required to create a DFM investor number?
To create a DFM investor number, an applicant may need to provide a copy of their passport, a residence visa, and a UAE national ID card. The specific documents required may vary depending on the applicant’s nationality and residency status.
Are there any costs associated with acquiring a DFM investor number?
No, there are no costs associated with acquiring a DFM investor number. However, there may be fees associated with trading on the DFM or Nasdaq Dubai securities.
What are the benefits of registering for a DFM investor card?
Registering for a DFM investor card provides individuals with a unique identification number that allows them to trade on the DFM and Nasdaq Dubai securities. Additionally, the card provides access to various services and benefits, such as receiving cash dividends directly to the card.
What steps should I follow to open an investor account in the UAE?
To open an investor account in the UAE, an individual should obtain an investor number with the DFM or Nasdaq Dubai. They may then need to find a licensed trading member to act as a broker and assist with opening the account. The specific steps may vary depending on the type of account and the trading member selected.
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