In America, when you want to invest in a particular company or with a specific exchange, it is as easy as setting up an investment account with your bank or other financial institution, putting money into your account, and then start to buy stocks or equities of your choice. With several major indices to choose from, investors are able to purchase shares of any company that has listed themselves as a public company on a stock market. In the UAE, things are not much different. The same process applies for people who want to get into investing. There are several major exchanges available in Dubai as well including the Dubai Financial Market or DFM, the Abu Dhabi Securities Exchange or ADX, and the NASDAQ Dubai, which allows local investors in the UAE to invest in international companies.
These exchanges are open to any person from any nationality or citizenship located in any country in the world. Of course, just as with the major exchanges in America, London, or Tokyo, it is easier to invest when you are physically located in those countries, but again, with the popularity of online investing, people can invest from anywhere in the world. If you want to invest in any of these exchanges available in the UAE, you will need to follow these steps:
Register for an Investor Number, also known as an NIN.
The registration form is available online and can be filled out and submitted electronically or in person either at any of the physical exchange locations or other offices around Dubai. You can also submit to a brokerage and they will file and obtain an NIN for you.
Get a broker or a brokerage account.
Just like in any other country, you will need to sign up for an investing account and you can do so at a brokerage in Dubai. There is a long list of brokerages that will help you in signing up for an account so you can start investing in the exchanges, either online or in person.
Start buying and selling stocks, bonds, or funds, with the help of your brokerage and enjoy all of the incredible public companies that are available on the Dubai exchanges.
So, as you can see, signing up for an NIN and starting a brokerage account is very similar in Dubai as it is in many other countries in the world.
Some Rules for Eligibility:
- You do not have to be a citizen of the UAE to trade in Dubai.
- You do, as mentioned above, need a NIN.
- You must have a valid passport for a country.
- Of course, you must have a brokerage account with one of the many brokerages in Dubai.
- You must be 21 years of age or older, or have the permission of your parents or legal guardians to sign up for a NIN and brokerage account.