How to apply for a DFM Investor Number (NIN)
Dubai is a regional economic hub with a huge trade volume. People from all around the world wish to invest in its markets in pursuit of monetary gains. Non-UAE residents can also invest in the Dubai market. However, they must acquire a Dubai Financial Market investor number to be eligible. Want to know how to apply for a DFM investor number (NIN)? Continue reading to find out more.
WHAT IS A DFM INVESTOR NUMBER?
Are you interested in trading in DFM and Nasdaq Dubai securities? To be eligible for trading, you need a DFM investor number. It works like a membership ID, allowing you to trade in the market.
HOW TO APPLY FOR A DFM INVESTOR NUMBER (NIN)?
There are multiple ways to apply for NIN.
DFM APP
You can apply via the DFM App, which you can download from the App Store or Google Play Store. Here are the steps to register.
- Sign up/ log-in
- Scan identification documents (Emirates ID or Passport)
- Take a selfie
- Enter the residential address
- Add your signature
- Select the method of receiving your cash dividends
- The investor will receive the Investor Number through SMS
DFM E-SERVICES
You can register via DFM’s website.
- Log in via UAE Pass
- Go to the eFORMS tab
- Fill in the Investor Number Request form
- Attach the required documents and add your signature
- You will get your Investor Number via SMS
INVESTOR AFFAIRS AT THE DUBAI CSD
You can apply via the CSD if you wish to register in person or if the applicant is registering via a representative or a guardian.
- Submit the required documents
- Applicant can sign digitally on the Investor Number Request form
- The applicant will receive the Investor Number via SMS
If the applicant/investor is not present, the form is to be signed and authenticated by one of the following:
- Dubai CSD staff at Investor Affairs
- Licensed trading member at Dubai Financial Market
- An accredited Bank in the UAE licensed by the UAE Central Bank
- Notary Public and UAE embassy in foreign countries or by the UAE Ministry of Foreign Affairs
LICENSED TRADING MEMBER AT DUBAI FINANCIAL MARKET
You can submit your application via a trading member. You can check out the DFM Broker Directory on the DFM website to find the right company.
REQUIRED DOCUMENTS
The following documents are required to apply for a DFM investor number.
- Investor Number Request form signed by the investor
- Copy of Emirates National ID
- Copy of the passport (for non-residents)
FOR MINORS
- Signature of the Guardian (Father)
- For UAE residents, a copy of the guardian’s Emirates ID
- For non-residents, a copy of the guardian’s passport
- In case the guardian is other than the father, a true copy of the duly authenticated guardianship order issued by the court or Notary public
- Guardianship order issued outside the UAE has to be certified by the UAE Embassy or the UAE Ministry of Foreign Affairs
MARSOOM HOLDERS
- A valid copy of Marsoom addressed to Dubai CSD
VIA A REPRESENTATIVE
- Copy of authenticated Power of Attorney issued from the court or Notary Public
- Copy of the representative’s Emirates National ID
- A Power of Attorney issued from other countries has to be attested by the official authorities and the UAE embassy in those countries or by the UAE Ministry of Foreign Affairs
FAQS
HOW MUCH IS THE REGISTRATION FEE FOR THE DFM INVESTOR NUMBER?
There are no charges for registration.
CAN ONE ATTAIN A NIN ON BEHALF OF SOMEONE?
Yes, you can. As discussed above, you would require a Power of Attorney (POA) in such cases.
ARE MINORS ALLOWED TO APPLY FOR NIN?
Yes, they can do so as per the procedure discussed above.
This concludes our guide on how to apply for a DFM Investor Number (NIN). Whether you have market experience and wish to expand your portfolio or are a first-timer, the Dubai market could give you the platform to gain a lot. From applying for a DFM national investor number to taking out the dividends, the processes are transparent, and the rights of all involved are protected by the authorities.
Featured image credit: Dubai Financial Market
