Off Market Transfer (OMT) - How do I transfer shares from a different party/entity to my Stake account?

You can certainly transfer the legal and beneficial ownership of shares to your Stake account without having to buy or sell them on the market.

For example, if you are wishing to transfer shares registered in the name of MR JOHN SMITH to your Stake account registered in the name of MS JANE SMITH.

THINGS TO CONSIDER

• An Off Market Transfer could have tax implications. Please note that due to the complexities involved with tax, we recommend you obtain independent & professional advice which takes into account your own set of facts and circumstances. Stake is not able to provide tax advice in relation to the transferral of shares as we are not registered tax advisers.

WHAT YOU'LL NEED

To begin the process please get in touch by clicking here, or otherwise email us at support@hellostake.com with the following information: 

Please fill out the OMT form (the signature must be wet ink) and send it back to us with the following:

• A copy of the IDs from both buyer(s) and seller(s) involved in the transfer
• A filled-out OMT form can be found by clicking here

In regards to filling out the form: 

Point #3: State of Incorporation - you can leave this blank

Point #5: Register - you can leave this blank

Point #8: Consideration - We must also collect a monetary value for all OMT's and so this field can not reflect as $0. Purchases should reflect the market price of shares as at the date of purchase. You can find Market values quoted in the daily newspapers or online.

Point #9: Date of purchase - please use today's date or the date of submission (which will be the same). We must collect a purchase date with in 3 months. The purchase date will be the buyers purchase date not the original purchase date of the joint applicants.

Please return the completed form to us via email, along with the following account details from the external (outgoing) broker

External Broker

Account Name

Account Number

PID

If you have any other questions in regards to this, please let us know. We will be happy to help guide you through filling out the form.

FEES

We are currently covering the cost of these OMT request. However, some additional costs might be associated to Off Market Transfer in the future. The minimum portfolio size consideration is $1,000 for this kind of transfer.

Please note that your outgoing broker may charge a fee for the transfer.