Description

Individuals and companies may submit a request to the Documentation Department at the Ministry of Justice (MoJ) to document a mortgage contract of shares in joint stock companies, which regulates an agreement between two parties to mortgage shares in joint stock companies in return for a defined amount of money that is paid by the mortgagor to the mortgagee following the approval of the competent entity.

Online Instructions

• Login to Sak portal using your username and password on Hukoomi.
• Select “Documentation”, then “Mortgage” from the “Documentation Services” list.
• Select “Mortgage Contract of Shares in Joint Stock Companies” from the “Transaction Type” list.
• Select applicant (first party - second party), then enter the expiry date of the personal identification document.
• Enter the proof of identity, then click on “Save”.
• Select adding “Second Party”, then enter personal identification number and expiry date.
• Select the capacity from the “Capacities” list, then enter a proof on this capacity and click on “Save”.
• Select forms and enter mortgage contract details (commercial registration number, joint stock company name, 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”.
• Attach the following documents:

• Personal identification (QID/passport) for natural person
• Valid commercial registration, establishment ID and license (for juridicial 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
• Shares Ownership Certificate
• Approval on shares mortgage

• Pay appropriate fees.

Offline Instructions

• Visit any of the single window OSS branches affiliated to MoJ.
• Provide all the required documents.

Service Center

A single window OSS branch affiliated to MoJ

Additional Information

• 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 15 days from the rejection date or, otherwise, it is canceled.
• If the application is not completed within seven days, the transaction is 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 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.

Fees

Applicable fees are as follows:

• Three copies: QR100
• Each party: QR50
• Any additional copy: QR50