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investor registration

Introduction:

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 all of your details are vetted by our third party DFSA (Dubai Financial Services Authority), regulated client account administrator. This means our registration process needs to comply with UAE, DMCC and DFSA investor take-on regulations, and we have to understand who you are, your source of funds and your previous dealings.

Registration Process

1. Registration

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.

 

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 browses through our investor platform.

 

The user name is entirely up to you however we request it is a minimum of six letters.

 

The password must be 8-16 characters and contain upper and lower case letters, numbers and a special character e.g. $, %, !

 

2. 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:

 

  • Your personal details including full address;
  • Your employment status, occupation and the source of your wealth that you plan to invest;
  • Your bank details. This will be the bank from which you will deposit funds and into which we will make payments. We will not directly debit any amounts from your bank account; and
  • 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 required.

Funding your account

Once you have registered as explained above and have agreed to our Terms and Conditions and Privacy Policy we complete the third party compliance checks as a final step. After this is done, you are able to deposit funds into your Beehive account and you can then start to make bids on our Marketplace or purchase existing finance parts on the Secondary Market.

 

You are only able to transfer funds to Beehive from your nominated bank account (as indicated during the registration process – this is a requirement for international Anti-money laundering). 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 “deposit money” 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

You funds are safely held in Beehive Services DMCC separate account. Beehive Services is a licensed company which has been established specifically by Beehive Group to ensure that in the unlikely event of Beehive Group DMCC ceases to trade, all outstanding finance re-payments will continue to be managed and unwound to completion, ensuring that re-payments continue to be distributed to investors.

 

Beehive Services DMCC account is in the UAE with Noor bank and requires action from a third party fund administrator for each transfer related to the account. The third party fund administrator signs off on everything investor related including payments in/out of the customer account and KYC/AML checks. Our legal advisors, Clyde & Co have drafted the legal documentation related to the platform, including the loan contracts between individual investors and businesses to which Beehive is not a party.

 

 

Protection of your details

The minimum bid on an individual business is AED 100 and there is no maximum.
We will only share your details or documents with relevant government authorities (if requested) and our third party client account administrator, APEX Fund Services. We do not share your details or documents with any other external or third parties without your authorization.