Individual Account:

Individual account is an account which can be opened by an individual investor.
If you already have an Investor Number (IN) with DFM and ADX, the following documents need to be submitted to open your brokerage account with MAC Sharaf

1. Account Opening form, duly filled and signed.
2. Copy of valid Passport.
3. Copy of Family Registration (For UAE Nationals Only).
4. Copy of valid Photo ID (For foreigners).

If you do not have an Investor Number with DFM or ADX, the following additional documents are needed to open your account

1. Investor Data Entry Application (DFM and ADX) duly filled and signed.
2. Investor Signature Form (DFM), duly filled and signed.

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Joint Account

Joint Account is an account opened by two holders.
If you wish to open a Joint Account, both holders are required to have an Individual Investor Number and a Joint Investor Number. You can open a joint account only in DFM.
If both holders have the Investor numbers (individual & joint), then the following documents needs to be submitted to open the broking account.

1. MAC Sharaf Account Opening form, duly filled and signed by both parties.
2. Copy of valid passport of account holders.
3. Copy of Family Registration of account holders (For UAE Nationals Only).
4. Copy of valid Photo ID of account holders (For Foreigners Only).

If the holders do not have DFM IN numbers then the following additional documents need to be submitted to open the account.

1. Investor Data Entry Application (DFM) duly filled and signed (Individually and jointly).
2. Investor Signature Form (DFM), duly filled and signed.(Individually and jointly).
3. DFM Joint account covering letter.

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Corporate Account

Corporate Account is an account which can be opened by a company or an institution.

The following documents need to be submitted to open a corporate account with us.

1. Investor Data Entry Application (DFM & ADX), duly filled and signed by authorized signatories.
2. DFM and ADX authorized signatories letters.
3. Investor Signature Form (DFM) , duly filled and signed by authorized signatories.
4. Copy of attested letter of authorizing the signatories.
5. Copies of the valid passports of the authorized signatories.
6. MAC Sharaf Account Opening Form duly filled and signed by authorized signatories
7. Copy of Memorandum of Association.
8. Copy of valid trade license.
9. Copy of valid commercial registration.
10. Copy of valid Power of Attorney or Board Resolution, authorizing your employees to trade in DFM, ADX or the NASDAQ DUBAI and take actions relevant thereto. (These should not be more than 3 years old)

Overseas Corporate Accounts must provide the below:

Note 1: For DFM requirements all documents set out in 7 to 10 for Juristic Persons must be stamped by the Ministry of Foreign Affairs and the UAE embassy of that country. (For Foreign Corporate Accounts only) 

Note 2: For ADX requirements all documents set out in 7 to 10 for Juristic Persons must be stamped by the Ministry of Foreign Affairs, the UAE embassy of that country and also from the Ministry of Foreign Affairs in U.A.E. (For Foreign Corporate Accounts only) 

Note 3: All documents and applications has to bear your company seal.(For Local and Foreign Corporate Accounts)

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Mandated Accounts

Mandated Accounts are accounts which can be opened and operated by a third party (Representative/Guardian).This is only effective using a separate formal Power of Attorney.

1. Investor Data Entry Application (DFM & ADX), duly filled and signed by the representative/ guardian of the investor.
2. Investor Signature Form (DFM), duly filled and signed by representative/ guardian of the investor.
3. Copy of valid Passport of the investor and representative/ guardian.
4. Copy of Family Registration of the investor and representative/ guardian (For UAE nationals).
5. Copy of valid Photo ID of the investor and representative/guardian.
6. MAC Sharaf Account Opening Form duly filled and signed by representative/guardian.

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