Al Rayyan – Apply for Mortgage of Shares in Qatar Stock Exchange

From Wikiprocedure

Advertisement

Procedure

[

edit

]

This procedure explains various ways to Apply for Mortgage of Shares in Qatar Stock Exchange in Al Rayyan.

  • Individuals and companies may submit a request to the Authentication Department, at the Ministry of Justice (MoJ), to authenticate a mortgage contract of shares in Al Rayyan Stock Exchange (QSE), which regulates an agreement between two parties to mortgage shares in QSE in return for a defined amount of money that is paid by the mortgagor to the mortgagee following the approval of the competent entity.

Apply Online

  1. An applicant can apply for the authentication of a Mortgage of Shares in Al Rayyan Stock Exchange online by visiting the Ministry of Justice (MoJ) online Portal SAK, your username and password on Hukoomi through the following link to make the application.
  2. Login into the SAK portal using your username and password on Hukoomi.
    • If you have not registered for Hukoomi e-Government Portal, you have to register so as to get the username and password to access this service. You can register for an account through the following steps.
    (i)Click on the “Register” link on the top right hands side of the homepage to begin creating your account.
    (ii)Fill in the required fields (personal number and mobile number)
    (iii)Click on the box next to the sentence ‘I’m not a robot’ and a group of questions will appear for you to answer
    (iv)Click on the “Receive Code by SMS” button in order to send the code to your mobile
    (v)Enter the code you received on your mobile
    (vi)Click on the “Next” button in order to complete your registration
    (vii)Fill in all the required fields
    (viii)Click the box next to the sentence ‘I’m not a robot’ and a group of questions will appear for you to answer
    (ix)Click on the “Register” button in order to complete the registration process
  3. Once logged in select the “Authentication Services” option, then select the “Mortgage” option from the authentication transaction list, and finally select the “Mortgage of Shares in Al Rayyan Stock Exchange” option from the transaction type list.
  4. Proceed to select the applicant as “first party mortgager – second party mortgagee” option, then enter the expiry date of the personal identification document.
  5. Choose the capacity from the “Capacities” list (Authorized Signatory, Attorney, Partner…etc) and enter its details of proof of identity of the capacity , then click on the “Save” button.
  6. Select the forms and enter mortgage contract details (Commercial Registration Number, Company Name, Company Code, Shareholder Number, Number of Mortgaged Shares, Mortgage Period from, Mortgage Period to, Mortgage Value, Approval Letter Number), as well as the additional text form containing the additional contract items agreed upon, then click on “Add”
  7. Attach the following required documents.
    • Personal identification (QID/passport) for natural person
    • Valid commercial registration, establishment ID and license (for juridical person)
    • Valid authorization and power of attorney, in case the signature on the document is based on a power of attorney
    • Determination of heirs and letter from the General Authority for Minor Affairs
    • Approval of a government entity, a semi-government entity and a non-government entity
    • Copy of the articles of association
    • Proof of shares ownership
  8. Write the terms of contract in the template text.
  9. Enter the total value of the mortgage
  10. Once done click on the “Submit” to officially submit your application. The system sends an SMS to the parties of the transaction clarifying that the transaction has been received and it is to be approved or rejected.
  11. If the application is approved, the applicant will receive communication instructing him to make payment for the application for authentication of the Mortgage of Shares in Al Rayyan Stock Exchange.
  12. Visit the Authentication Department of the Ministry of Justice (MoJ) or any of the single window OSS branches affiliated to the Ministry of Justice (MoJ) to make the Payment.
  13. The fees charged for authenticating the Mortgage of Shares in Al Rayyan Stock Exchange are as follows
    • Number of signatures: QR4
    • Number of copies: QR5
    • Original copy: QR10
  14. After making the payment, submit the receipt to the authorities. The authorities will proceed to print the documented contract and hand it over to the applicant. This process usually takes a period of one to two days if everything is in order.

Apply In-Person

  1. An applicant can apply for the authentication of a Mortgage of Shares in Al Rayyan Stock Exchange by making an application with the Ministry of Justice (MoJ). This can be done by visiting the Authentication Department of the Ministry of Justice (MoJ) and making the application. The contact information of the MOJ Headquarters can be found in the “Office location and Contacts” section of this page.
    • The application can also be done by visiting the single window OSS branches affiliated to MOJ and making the application.
  2. Once there make a request for authentication of the Mortgage of Shares in Al Rayyan Stock Exchange. The authorities will ask you to provide some required information and documents so as to make the authentication.
  3. Provide the required information and documents to the authorities. These documents include.
    • Personal identification (QID/passport) for natural person
    • Valid commercial registration, establishment ID and license (for juridical person)
    • Valid authorization and power of attorney, in case the signature on the document is based on a power of attorney
    • Determination of heirs and letter from the General Authority for Minor Affairs
    • Approval of a government entity, a semi-government entity and a non-government entity
    • Copy of the articles of association
    • Proof of shares ownership
  4. Now the authorities will verify your request and validate the submitted documents.
  5. Proceed to make the payment for the authentication process. The amount of fee charged is as follows.
    • Number of signatures: QR4
    • Number of copies: QR5
    • Original copy: QR10
  6. After making the payment submit the payment receipt to the concerned authorities.
  7. After verification process, the authorities will authenticate the Mortgage of Shares in Al Rayyan Stock Exchange and hand them over to the applicant.
  8. This process normally takes a period of one day.

Advertisement

Required Documents

[

edit

]

  1. Personal identification (QID/passport) for natural person
  2. Valid commercial registration, establishment ID and license (for juridical person)
  3. Valid authorization and power of attorney, in case the signature on the document is based on a power of attorney
  4. Determination of heirs and letter from the General Authority for Minor Affairs
  5. Approval of a government entity, a semi-government entity and a non-government entity
  6. Copy of the articles of association
  7. Proof of shares ownership

Ministry of Justice
Phone: 40215555
Fax:40216550
E-mail: [email protected]
Website: MoJ
MoJ Location

SAK Mobile App

Advertisement

Advertisement

Eligibility

[

edit

]

  • Individuals and Companies in Qatar wishing to authenticate a Mortgage of Shares in Qatar Stock Exchange are eligible to make the application.

Fees

[

edit

]

Applicable fees are as follows:

  • Number of signatures: QR4
  • Number of copies: QR5
  • Original copy: QR10

Validity

[

edit

]

  • The authentication is valid forever.

Documents to Use

[

edit

]

 Please attach documents that can be used by people. e.g. links

Advertisement

Sample Documents

[

edit

]

 Please attach sample completed documents that would help other people.

Processing Time

[

edit

]

  • The processing time is one day.

[

edit

]

Videos explaining the procedure or to fill the applications. 
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites. 	
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver, 
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Advertisement

Instructions

[

edit

]

Please provide other instructions related to the certificate/documents.
 e.g. The state office holds birth records since january 1908.

Required Information

[

edit

]

  1. Name of Company
  2. Name and QID of Mortgagee
  3. Name and QID of Mortgager
  4. Mortgage of Shares in Qatar Stock Exchange details
  5. Contact information of All parties

Advertisement

Need for the Document

[

edit

]

  • This service enables Companies and individuals to have a Mortgage of Shares in Al Rayyan Stock Exchange authenticated by the Ministry of Justice (MoJ).

Information which might help

[

edit

]

  • If the transaction is “resubmission”, the system displays the “rejected” application details, then the user reviews and modifies the data before resending the application in no more than 30 days from the rejection date or, otherwise, it is canceled.
  • If the application is not completed within 30 days, the transaction will be canceled.
  • The details of the party are verified through QID number – expiry date.
  • The applicant shall be a resident/citizen and registered in Hukoomi database.
  • The first party in the transaction can be more than one person.
  • The applicant may not be repeated with the same identity or details proving such identity.
  • The company details may not be modified.
  • The commercial registration shall be valid.
  • A text may be added to the record subject.
  • The system sends an SMS to the parties of the transaction clarifying that the transaction has been received and it is to be approved or rejected.
  • The transaction may be completed as well by visiting any of the single window OSS branches affiliated to the ministry or through SAK Mobile App.
  • The application is submitted online, along with the approval of parties and the registrar, then the transaction – in terms of fee payment and printing of a documented contract – is completed at any of the MoJ branches or the ministry’s headquarters.
  • Please keep the application details for reference.

Other uses of the Document/Certificate

[

edit

]

Please explain what are other uses of obtaining this document/certificate.
 e.g. Birth Certificate can be used as proof of identity.

Others

[

edit

]

More information which might help to make this process in Al Rayyan can be obtained below.

*The SAK Application: It is the Ministry of Justice of Qatar’s official application for the Real Estate Registration and Authentication Department’s electronic services. It is one of the Ministry’s recent endeavors to simplify and give users a quick and smart access to the services, taking into consideration the importance of maintaining the confidentiality and privacy of the personal data of the users.

  • The Sak application is considered as one of the channels of the Ministry of Justice of Qatar’s Registration and Authentication Department’s Services, through which a number of services can be implemented targeting different segments of beneficiaries, including individuals, businesses, investors, and governmental agencies.

Leave a Comment

Your email address will not be published. Required fields are marked *

%d bloggers like this: