At Beehive, we are committed to make the investor registration process as easy and straightforward as possible. We take our investor take-on procedures very seriously and as part of this we are required to collect and maintain valid identity/information of our investors. This helps us know and understand you better as part of our KYC (Know Your Customer) requirements which are in accordance with the guidelines issued by the DFSA (Dubai Financial Services Authority) and we have to understand who you are, your source of funds and your previous dealings.
1. The first step of our registration process requires basic personal information in order to register on our platform which includes name, date of birth, nationality, country of residence and contact number.
2. At this stage we also request our investors to create a user name and password which would be used to access the investor platform to progress in the registration process and browse through our investor platform. The user name is entirely up to you however we request it is a minimum of six letters.
3. The password must be 8-16 characters and contain upper and lower case letters, numbers and a special character e.g. $, %, !
Completing the registration
To gain full access to the platform and add funds to your account, you will need to complete a few more steps as part of our investor take-on process. As part of this we will require the following:
1. Your personal details including full address;
2. Your employment status, occupation and the source of your funds that you plan to invest;
3. Your bank details. This will be the bank account from which you will transfer funds and into which we will make payments. We will not directly debit any amounts from your bank account; and
4. Acceptance of the terms and certification of the details provided.
At this stage our team would also request identification verification (your passport and proof of your residential address/Emirates ID) and a selfie holding your passport to comply with our investor take-on requirements. Please note that additional documents may also be requested from time to time.
Funding your account
You are only able to transfer funds to Beehive from your nominated bank account (as indicated during the registration process – this is a requirement as per international Anti-money laundering standards). We will therefore only accept transfers initiated through internet banking, telephone banking or visiting a bank branch. To ensure the funds get credited to your account without delay, please also let us know the amount you are transferring via the “Add funds” page on the platform. Please allow 1-3 business days for funds to be processed and credited to your account. All funds credited will be net of any bank fees.
Protection of investor funds
Beehive P2P Limited’s Client Monies Account is held in the UAE with Emirates NBD.
Our legal advisors, Support Legal drafted the legal documentation related to the platform, including all terms & conditions and the loan contracts between individual investors and businesses. All Documentation is drafted under DIFC Law.