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Emirates Airline was named in the top 10 first class cabins by therichest.com. Find out what position it came here.

Let's make a deal: buying and selling independently

Although over-the-counter trades are usually conducted by a small group of investors, they are open to anyone who know the process.

Although over-the-counter trades are usually conducted by a small group of investors, they are open to anyone who knows the process. Here is how it works:

1. Confirm if the stock is open to nationals or non-nationals or both. Private joint stock companies, such as those publicly listed, may have limits on foreign ownership. The company will be able to provide this information.

2. Speak to a broker to receive a quote on the price of the shares. The best bet is to find a veteran OTC broker who will not only have access to the stock quote, but also have a client base with access to the quantity you require. Because these companies are not always liquid, it is not always possible to obtain the exact number of shares you want.

3. The broker will provide an application form to be filled out by both the buyer and seller, with an attested passport copy of both parties to be attached. The seller is required to provide a "letter of release" confirming that they are submitting a specific amount of shares to the buyer. The buyer needs to have a cheque or another method of payment ready for the seller.

4. As a new owner of the shares, you will need to register ownership with the company. Some companies have an in-house registrar and others register shares with a particular bank, such as National Bank of Abu Dhabi and Abu Dhabi Islamic Bank.

halsayegh@thenational.ae

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