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Family Transfers

Estimated Time:

30 minutes

Location:

The Center`s headquarter

Estimated Fee:

 

1.The SDC shall collect a commission for family transfer as follows:


	(0.002) two per one thousand of the market value.
	(0.0001) one per ten thousand of the market value of government bonds, bonds issued by public institutions and municipalities and corporate bond.
	(0.0001) one per ten thousand of the market value of Islamic finance Sukuk.


2.The SDC shall collect the commissions mentioned in paragraph (1) above from one party with a minimum of (250) two hundred and fifty fils for each contract.

Conditions for obtaining service

1.The transferor’s/ shareholder’s shares must be deposited in the central registry, and in case the shares are in his account maintained by the broker, the shares should be transferred to the central registry before executing the transfer process.

2.The transferor and the transferee or their legal representatives must duly sign the transfer form at the SDC.

Notes

None.

Partner institutions:

None.

Procedures

The concerned person or his legal representative must submit the Family Transfer Form to the SDC.

Required Documents

1.A valid copy of the personal identification document for the transferor and transferee.
2.Documents that prove the relation between the transferor and the transferee such as (the family book, birth certificate, a passport mentioning the spouse name, the marriage contract, inheritance deed).
3.Addresses for the transferor and the transferee.
4.If the transfers are conducted by virtue of a duly organized power of attorney, a copy of the power of attorney must be provided to the SDC.