The property you invested in will be kept rented to maximize ROI, you can definitely see the building and its amenities at your own arrangements but not the property as it will be rented out most of the time.
You can keep track of the performance of your investments through your dashboard from your mobile or laptop
AML is the abbreviation of anti-money laundering. We follow certain processes to ensure compliance with the DFSA AML rules and regulations, thus ensuring that only approved investors can access the platform. This way, the platform will not be used for money laundering or other unlawful activities.
Onboarding is the process of registering a new investor on the platform and consists of three parts: AML, client classification and agreement signing.
AML includes verifying the identity of the investor and obtaining the necessary assurance that only legitimate funds will be used on the platform. We use third party verification technology for swift and seamless onboarding experience.
Client classification process as per the DFSA COB Rulebook Chapter 2 ensures that Retail Clients receive additional protections and risk warnings – by default all clients are classified as Retail Clients.
The final step is reading & digital signing/accepting of the client terms and conditions (client service agreement) and risk disclosure documents.
We enabled different channels for convenient wallet topping-up:
- Traditional bank transfer
- Instant transfer
- Debit card (Subject to payment gateway provider charges)
Scientists disagreed on this matter for decades
We manage properties through reputable and credible third parties
It is when multiple investors pool-in to buy the property together.
At Maisour, we shortlist properties using a rigorous due diligence process and list them for crowdfunding. You can invest in a fraction of a property. All additional property transfer expenses, such as registration fees, trustee fees, evaluation fees, real estate agent fees will be paid by Maisour in return for the transparent service fees (see FAQ on our remuneration above). Once the fund raising campaign for a property unit is completed, a cooling off period will apply of at least 48 hours during which you can still change your mind and cancel your investment commitment. After the cooling off period, we shall proceed with completing the transaction, whereas the property will be transferred 100% to a DIFC SPV (special purpose vehicle – a holding company set up exclusively to own this particular property unit), and the shares in the SPV will be transferred to you alongside other investors, in proportion to your investment in the propertyWhen can I withdraw my investment commitment?
Will Maisour or its Related Persons have any financial interest in the crowdfunding transaction?
Any individual above 21 years old can complete the onboarding/registration process and then can invest on the Maisour platform.
How much can I invest on the platform?
At onboarding, all investors are classified as Retail Clients and can invest up to USD 50,000 per calendar year on Maisour platform. If you wish to invest more than USD 50,000 in a calendar year on Maisour platform, please send an email to Maisour and we will help you to change your client classification from Retail to Assessed Professional Client. Please note that DFSA requires that an Assessed Professional Client provides proof of net worth of at least USD 1 million and having investment experience.
When can I withdraw my investment commitment?
In the end of the fund raising campaign, a 48-hour cancellation window (“cooling off period”) will apply. During this time you can withdraw your commitment without any fee or penalty. After the cancellation window is closed, the transaction is processed by Maisour and can no longer be cancelled.
What happens if a listing attracts not enough or too much commitments?
If a listing does not raise 100% of funding by end of fund-raising campaign, the listing will be removed, and committed funds will be unfrozen and reflect in your wallet, available again for new commitments.
If a listing reaches 100% funding before end of investment period, any new commitments will go in the waiting list (without getting frozen in respective wallets). In the end of the investment fund raising campaign, a 48-hour cooling off period applies during which some investors may withdraw and cancel their commitments. In this case, after the cooling off period ends, Maisour will reach out to those on the waiting list enabling them to commit. Maisour will provide an additional 48 hours cooling off period to those new investors following which the transaction will close with full funding.
What are the expenses related to my property (share)?
The property is subject to the following expenses:
1) at initial stage:
evaluation company fees
real estate broker fees
DLD 4% transfer tax (will be paid 50% by the SPV and 50% by the seller)
property trustee fees
Maisour fees from the investor 1.5% and from the seller 1%
2) ongoing expenses:
property insurance charges (Maisour will obtain quotations from at least 3 insurance companies of sufficient reputation, financial stability and duly licensed, and will proceed with the best offer)
property service fees
landlord’s level maintenance
What happens if there is a material change to the property?
Maisour will assess the change and inform the investors.
If the change occurs before the end of the fund raising campaign or during the cooling off period, Maisour will re-assess if the property is still suitable for listing and will either (a) delist the property and unfreeze earlier commited amounts with a relevant notification to investors, or (b) will inform the commited investors on the material change and also highlight the update on the property listing.
If the change occurs after the cooling off period, then Maisour will inform the investors and suggest them to vote if a change of course of action is seen reasonable.
How is my data protected and how is the platform secure?
What happens if Maisour goes out of business/closes down?
Maisour has in place a Business Cessation Plan – a detailed step-by-step instruction for all its units and functions in order to govern an orderly closure would this ever be the case. The investors’ interests in any case will be protected, and investors will either transit to another crowdfunding platform or will continue management of their SPVs directly. Note that Maisour also maintains sufficient capital and put together a realistic and detailed financial projections plan to ensure it will remain operational and active for the years to come.
Do I have to pay anything in relation to my property share?
We aim to have all properties rented out maximum of time, and target properties for investment which are already rented out or are in a condition ready to rent out.
However, would this ever be the case, e.g. if a newly purchased property was not rented yet and is due for service fees or requires landlord’s level maintenance expenditure, we may have to seek to cover such expenses from your wallet. Note that the amount would never be large (as it will be proportionate to your investment share in the property’s SPV), and overall we aim to never have such situation occur ever
Who are the other providers and parties related to the sale of property and then its management?
Maisour will engage the following entities during the initial (fund-raising) period:
real estate agent (for purchase) – independent
evaluation company – independent
property trustee – independent
After the transaction is completed, Maisour will engage the following entities:
property management company – may be either independent or related to Maisour
real estate broker (for lease) – independent
tenant – independent
At all times your client money will remain in the client money account opened under Maisour’s name in a bank (depositary taking institution) licensed by the UAE Central Bank and marked as Client Money Account, segregated from Maisour’s own operating funds – of course the bank is also independent from Maisour.