PDA

View Full Version : Circumventing the need for an IFA.



haagsehibby
05-02-2015, 01:51 PM
Apologies if this has been answered somewhere in the mass of information elsewhere.

1. I want to buy shares - not possible even if I want to pay an IFA, since I live abroad.

2. I know an existing shareholder - as far as I understand, he doesn't need an IFA.

3. If I give him some money to buy shares, can he then transfer these shares to me after whatever time is needed to elapse ? Or is my foreign residence a barrier to owning shares at all ? And is it still necessary to have an IFA stamp of approval to make the transfer ?

Thanks in advance for any advice.

hibbydad
05-02-2015, 01:53 PM
Apologies if this has been answered somewhere in the mass of information elsewhere.

1. I want to buy shares - not possible even if I want to pay an IFA, since I live abroad.

2. I know an existing shareholder - as far as I understand, he doesn't need an IFA.

3. If I give him some money to buy shares, can he then transfer these shares to me after whatever time is needed to elapse ? Or is my foreign residence a barrier to owning shares at all ? And is it still necessary to have an IFA stamp of approval to make the transfer ?

Thanks in advance for any advice.

Don't think that is a problem shares can be transferred by the use of common form of transfer

PatHead
05-02-2015, 03:35 PM
Sure one of the conditions is that they cannot be sold overseas anyway.

Looks like that would be your only solution if you were to do that - not that I am encouraging you or giving advice.

hibby6270
06-02-2015, 01:58 PM
Apologies if this has been answered somewhere in the mass of information elsewhere.

1. I want to buy shares - not possible even if I want to pay an IFA, since I live abroad.

2. I know an existing shareholder - as far as I understand, he doesn't need an IFA.

3. If I give him some money to buy shares, can he then transfer these shares to me after whatever time is needed to elapse ? Or is my foreign residence a barrier to owning shares at all ? And is it still necessary to have an IFA stamp of approval to make the transfer ?

Thanks in advance for any advice.

This is the reason us UK based Hibbies are being taken for mugs with the whole "IFA counter signing the form" mullarkey.

If we all did, or could do, what 'haageshibby' is proposing that would be great. Sadly won't be possible for everyone.

HappyAsHellas
06-02-2015, 02:28 PM
This is the reason us UK based Hibbies are being taken for mugs with the whole "IFA counter signing the form" mullarkey.



We are not being taken for mugs, merely having to abide by the laws concerning the share issue.