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Expatriates Local Share Trading Controls
- Valid Iqama (Residence Permit).
- Current account with ANB Invest.
- All nationalities to be accorded equal treatment
on pari passu basis.
- A single investment portfolio will be opened
for the investing expatriate.
- A shareholding expatriate is allowed to subscribe
to capital increases.
- A shareholding expatriate is allowed to cast
a vote at the annual assembly and to nominate himself
for board membership unless the company's articles
stipulate otherwise.
- Documentation required for portfolio opening
and investor setup:
a. Completion and signature of the investor setup/creation
form (Form # 2 - enclosed), to include the following:
i. Nationality.
ii. Date of birth.
iii. Number of investment account.
iv. Permanent residence address.
v. Legible copy of Iqama and Passport, duly endorsed
as 'true copy'.
vi. Signed and stamped Employer/Sponsor letter (for
company records).
b. Completion of the designated Investment Portfolio
Account Opening Form available with the branches,
duly authenticated with branch authorized signatures.
c. Completion of the designated ''Local Shares Trading
Account Opening Agreement'.
d. Customer to sign the Undertaking (Form # 1) attached
to this circular.
e. Authorized branch signers to endorse validity
of details included in the forms.
- Duly completed forms to be submitted along with
Iqama & Passport copies to the Local Shares Operations
Center at HO by mail.
- Endorsement of Shares Operations Manager (or designee's)
signature on the forms prior to submission.
Notes:
- Proxies will not be entertained under any circumstance.
The portfolio must be managed personally.
- Share switches/transfers from one portfolio to
another are not allowed.
- The rules governing opening of current accounts
issued by Capital Market Authority equally apply to these regulations.
- An investing expatriate must be informed that
the portfolio will be automatically suspended on
expiry of the Iqama, and that he is not entitled
to claim compensation in lieu of any damages resulting
there from.
- The minimum balance required for the opening
of an investment portfolio is SAR 100,000.
- The portfolio will be temporarily suspended in
connection with Iqama expiry, but will be reactivated
once the Iqama is renewed.
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Current User