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 a DFM Investor Number (NIN).
DFM APP
You can apply via the DFM App, which is available for download from the App Store or Google Play Store. Here are the steps you need to follow to complete your DFM Investor Number NIN application.
- 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, concluding the DFM NIN application process.
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.
- The 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 the Dubai Financial Market.
- An accredited Bank in the UAE licensed by the UAE Central Bank.
- Notary Public and the 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 Dubai Financial Market website to find the right company.
REQUIRED DOCUMENTS TO Apply for DFM Investor Number (NIN)
The following documents are required to apply for a Dubai Financial Market 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 a Notary Public
- A 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 the Dubai CSD
VIA A REPRESENTATIVE
- Copy of authenticated Power of Attorney issued by 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
Once you have received a NIN, the next step is to select a brokerage firm and open a trading account.
FAQS about How to Apply for DFM Investor Number (NIN) and more
HOW MUCH IS THE REGISTRATION FEE FOR THE DFM INVESTOR NUMBER?
There are no charges for registration.
CAN I APPLY FOR A DUBAI INVESTOR NUMBER (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.
How long does it take to receive the DFM Investor Number (NIN) after application?
The DFM NIN application process usually takes one working day.
Is personal presence required to apply for a DFM Investor Number (NIN)?
No, as discussed, personal presence is not mandatory for a DFM Investor Number NIN application.
What should I do if I lose or forget my DFM Investor Number (NIN)?
In such a case, you can call +971-4-305-5555 and follow the self-explanatory steps. You can also send a request via the DFM App or visit the DFM Trading Floor.
Can a non-UAE resident open a DFM Investor Number (NIN)?
Yes, non-UAE residents can apply by submitting the additional documents mentioned above.
Do I need to open a trading account after getting a DFM Investor Number (NIN)?
Yes, you would need to open a trading account with a brokerage firm.
Can I apply for a DFM Investor Number (NIN) using the DFM App?
Yes, you can apply for NIN via the DFM App.
This concludes our guide to applying 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 provide you with a platform to gain a lot. From applying for a DFM national investor number to receiving the dividends, the processes are transparent, and the authorities protect the rights of all parties involved.
Featured image credit: Dubai Financial Market
