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Changing Name of Owner of Shares

  • 07-11-2008 12:23PM
    #1
    LFC5Times
    Closed Accounts Posts: 1,217 ✭✭✭


    Hi,

    I want to spend 2k on a company on the Nasdaq, my mum has an account with one of the stockbrokers, but if she buys them they will be in her name, how much does it cost to change the name/owner?

    Or is there anyway I can just buy them myself in a quick and easy way without having to fill out forms and it takes a few days etc etc


Comments

  • #2
    Tiesto
    Closed Accounts Posts: 1,509 ✭✭✭Tiesto


    hey there
    I can't imagine how this would be possible if you wanted to keep the shs in electronic form, as the shs most likely are going to be held in a nominee account at Crest, this nominee account belonging to the broker. The broker wont allow you to change them into your name as you dont have an account with the broker. However if your mother and yourself were to complete a stock withdrawel (withdraw the shs into certificated form, this would require the help of the broker and would involve a fee), after receiving the physical certificate, you should be able to send it along with a completed 'stock transfer form' to the registrar to have the cert re issued in your name. I think you could download the stock transfer form from the registrars website.


  • #3
    Blackjack
    Registered Users, Registered Users 2 Posts: 3,640 ✭✭✭Blackjack


    If the stocks are NASDAQ listed it's highly unlikely they're CREST eligible, most likely DTC.


  • #4
    Tiesto
    Closed Accounts Posts: 1,509 ✭✭✭Tiesto


    Blackjack wrote: »
    If the stocks are NASDAQ listed it's highly unlikely they're CREST eligible, most likely DTC.

    oh apologies, i didnt see the 'Nasdaq' part.


  • #5
    Dita
    Registered Users, Registered Users 2 Posts: 31 ✭Dita


    Generally there is 1% stamp on change of beneficial ownership, but it would depend on which stockbrokers your mother has an account with. for example some charge you Euro100 for a US stock certificate, and thats after whatever charges the registrar lays on you.

    If you have an account with AIB, ring your branch, they have someone who should be able to take your order, you might have to pop down with some i.d. etc but would be far quicker than going to a stockbrokers (cheaper too!)


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