Instructions
When created, an open joint stock company (OJSC) places its capital in the form. As a rule, shares are issued in uncertificated form. The first issue of shares is registered with a government agency - the Federal Service for Financial Markets (FSFM). Without such registration, transactions with shares are impossible. The OJSC organizes the maintenance of a register of shareholders, which indicates information about each shareholder, the number and categories of shares.
Shareholders of an OJSC have the right to freely sell shares without consent. The sale is carried out on the basis of a simple share purchase agreement concluded in writing. A package containing more than 30% of shares presents some difficulties. A person who intends to acquire more than 30% of the shares of an OJSC must send an offer to the shareholders of the OJSC to repurchase such a number of shares, indicating the proposed price of these shares or the method for determining it. A bank guarantee is attached to such an offer, providing for an obligation to pay the price of the shares sold in the event of failure to fulfill the obligation to pay for the purchased shares on time. If the shareholders agree, a share purchase and sale agreement is concluded.
According to the law, a person who has acquired (or has in total) more than 30% of the shares of an OJSC must send an offer to the holders of the remaining shares to purchase the remaining shares from them (in the law, such an offer is called mandatory). The offer is also accompanied by the bank guarantee described above. Shareholders have the right, at their discretion, to sell shares to a given person or refuse to sell them. A decision on this is made at the general meeting of shareholders.
It should be remembered that the voluntary or mandatory offers specified above are submitted to the FFMS body before being sent directly to the seller of shares. The FFMS body reviews such a proposal and the documents attached to it and, if there are certain violations of the law, has the right to make recommendations on how to finalize the proposal. It is important for the seller of shares in an OJSC to ensure that the procedure for sending offers established by law is carried out correctly, otherwise there may be a risk of non-recognition of the share purchase and sale transaction.
Sources:
- How to get a tax deduction when selling securities
Modern trading of securities (stocks and bonds) occurs primarily electronically and in book-entry form. In other words, when you make a trade, you do not receive beautifully designed stock/bond forms in your hands. Instead, a registrar (a company that officially keeps records of the issuer’s shares) or a depository (an organization that provides services for storing securities certificates and/or recording and transferring ownership rights to them) makes an appropriate entry about the owner in the accounting register. But what if, for example, you inherited shares in physical form and you want to sell them?
Instructions
Firstly, it is necessary to convert it into electronic, i.e. register your ownership. Data about you is entered into the register, and an account is opened in your name with or with the registrar, where the shares (information about them) will be stored. In this case, the paper forms are confiscated from the owner in exchange for an extract from the register.
Next, to sell, you can contact a licensed broker, who will open a trading account for you and transfer the securities to it. He will then place an exchange order on your behalf to sell them at a certain price. When a buyer is found for your securities, the purchase and sale transaction will be completed and the money will be credited to the account. Shares can be sold through a broker and without opening an account, but they will be sold at a much lower price than the market price.
An alternative option is a stock store (a point of sale of shares to individuals). Its advantage over a broker is that you can make a transaction on the spot if the offered price for your securities suits you. To do this, you need to conclude a purchase and sale agreement with a stock store, re-register the shares in the name of the buyer, draw up a written statement about their write-off under the agreement and receive payment in cash or by transfer to your bank account. After the sale of securities, you will have to pay income tax in the amount of 13% based on the tax return for the corresponding reporting period. This method is especially effective when selling low-liquid securities.
Video on the topic
note
If you have not officially inherited the shares, then you will have to notarize ownership of them and provide these documents for registration in the register of shareholders of your issuer.
Helpful advice
Before taking action in relation to your securities, make sure that this type of shares has gone through the listing procedure, i.e. admitted to trading on the stock exchange.
Sources:
- Website of the magazine "Securities Market"
If you decide to sell shares of RAO, then first of all you need to know that OAO RAO UES of Russia no longer exists. In 2008, the company was reorganized and no one currently has securities of RAO UES.
You will need
- Calculator for shareholders
- http://www.rao-ees.ru/ru/reorg/show.cgi?calc1.htm
- Central Moscow Depository
- http://www.mcd.ru/
- Exchange stock quotes
- http://www.investpalata.ru/?page_id=600
- Shareholder registers
- http://rostatus.ru/rao/
Instructions
Select one of the values in the column “Position when voting at the EGM” (EGM? Extraordinary general shareholders). Those who did not take part in this vote were in the most advantageous position, since they received the most shares.
Next, follow the link “Exchange stock quotes”, where you will find the price of securities. Information comes from the MICEX (Moscow Interbank Currency Exchange) with a 15% delay. Multiply the number of shares you have by the price. This is where the good part ends. Since, as a result of the reorganization, RAO UES split into several companies, each block of shares (at least 26) will have to be sold separately. To do this, update your details in the register of shareholders for each organization. The cost of selling each package will be at least 1000 rubles (payment for government services for registration), and not counting your efforts and time. Therefore, it is very important to calculate in advance how much you can get as a result of the sale in order to decide whether it is worth starting it at all.
note
If it so happens that you do not know the number of securities, you can look at them in the voting ballots. These documents were supposed to arrive by mail every year. If there are no ballots, it means that in the register of shareholders your data (address, passport number) was entered with an error and the matter becomes significantly more complicated. You need to write a letter to the Central Moscow Depository, which before the reorganization maintained the register of RAO UES, with a request to provide a certificate on the number of shares (indicating full information about yourself). In the worst case, you will have to prove the existence of shares through the court.
Sources:
- Investment Chamber
Transactions with securities can bring real income if these assets are managed correctly. If you have shares in companies that have increased in value, you can sell them at a profit. In this case, the difference between the purchase price of shares and the sale price will be your profit. In order to competently complete a transaction for the purchase and sale of securities, you need to know some of the subtleties of operations with them.
Instructions
Today, purchasing is very widespread by concluding an agreement between the client and an investment company that has the authority to carry out such operations. So start by finding the right company that you can trust to complete the transaction.
Check out the terms and conditions for the provision of brokerage and investment services by several companies that will come to your attention. Take into account the reputation of the company, the length of its work on the market, the professional training of its staff, as well as the terms of cooperation, including the amount of commissions, deadlines for fulfilling obligations under the contract and other parameters of the transaction.
To sell the securities you have under a purchase and sale agreement, you must personally appear at the investment company of your choice and sign a securities purchase and sale agreement. Then provide the transfer order to the relevant Register and receive from the same Register a certificate of movement of funds, which must be submitted to the company. After this, you will receive the funds due to you (non-cash payments are also possible).
The second option for selling shares is through opening a brokerage account with an investment company. Choose this method when selling low-liquid stocks, as well as in cases where you have time to wait for the price of this type of security to rise.
To complete the above procedure, open a brokerage or depository account, being guided by the rules of the investment company and the regulations on brokerage services. Then deposit your existing shares into your own client (custodial) account. After this, submit an application to the company’s specialist to buy and sell shares, indicating their price and quantity.
The management of enterprises does not accurately record and process transactions for the purchase and sale of shares. This allows for multiple sales of the same shares, which creates some freedom for fraudulent activities.
I would like to quote excerpts from a letter from the director of a well-known company who applied for protection. “People tend to be mistaken about the facts of objective reality. We think that our life is exactly as much as we know about it, but it turns out to be completely different. For example, I believe that I have 34% of the shares of one very well-known company. But that's just my opinion. The court's opinion on this matter turned out to be completely different:
- I could not confirm the fact of acquisition of shares, since I did not have evidence of payment made;
- secondly, I did not sign a purchase and sale agreement with the seller, but limited myself to the transfer order and the registered person’s questionnaire, since these documents are sufficient to carry out transactions on the account in the register;
- thirdly, the wife of the seller of the shares, as it just turned out, after the divorce claims half of his property, and did not give him consent to sell the shares, which are their common joint property;
So it turned out that I purchased the shares and paid the money, and even registered the transaction in the register, and now, by the will of some people unknown to me, all my transactions with shares were declared invalid, and now I have nothing... nothing, except the confidence that I’m right.”
And these are excerpts from a recording of a conversation with a director whose company was being taken over: “We transferred our register to a professional registrar in 2005. Until this time, we had two additional issues and many share purchase and sale transactions. All documents were kept in the company and were confirmation of the rights of the current owners of shares. The transfer of documents and the register of shareholders was entrusted to our employee and he did everything. As it turned out later, the registrar demanded the provision of the initial list of shareholders of the company at the time of privatization, since he could not really understand the current register of shareholders.
Such a list was provided, and the registrar formed a register of shareholders on its basis. Further, transactions for the past period were sent to the registrar to make changes to the register of shareholders. But the registrar has not currently accepted for registration transactions made between 1998 and 2005. This is justified by improper execution of transactions. Now shares are being purchased from the original shareholders and these transactions are being registered in the register. It turns out that everything we purchased turned out to be illegal... And scammers took advantage of this situation to absorb our company.”
In this regard, the question of the procedure for proper, and I emphasize, proper execution of share purchase and sale transactions seems relevant. This must be such a set of documents that it will be impossible to challenge in court and the registration of which cannot be refused by a professional registrar.
How to register the purchase of shares
The first and most important condition when drawing up a share purchase and sale agreement is that you should not neglect the “possible consequences”; you need to sign the agreement as if you are going to court with him tomorrow. That is, all the most negative consequences should be provided for.
Here is an approximate, but not exhaustive list of documents that should be signed when making a transaction for the purchase and sale of shares in order to insure yourself against possible challenges to your transactions.
General documents
Share purchase agreement
The agreement for the sale and purchase of shares must contain all the essential terms of the transaction: the parties, the subject of the agreement - shares of “such and such a company” (the number of shares, their type, number and date of issue, par value), the price of the agreement, that is, the price at which one share is purchased and the total price of the transaction, the payment procedure (terms, type of payment), liability for failure to fulfill the contract, for example, for non-payment of money or non-transfer of shares. Many consider signing an agreement unnecessary, since the basis for making changes to the account of a registered person in the register is a transfer order.
However, when the question arises about the basis for the transfer of rights to shares, and you do not have a purchase and sale agreement, this will mean that you cannot confirm your right and the transaction in this case can be considered not concluded and the transaction made on the account can be canceled (return shares to the original owner). This often happens during the seizure of enterprises; the basis for this is a court decision that has entered into legal force. It's simple: you cannot confirm in court the transfer of ownership of the shares to you, and your opponent comes to court with a signed agreement and a bunch of other documents indicating that the shares were not sold to anyone other than him. And now you no longer have shares!
We should also not forget that the transfer of the share itself does not confirm the transfer of ownership of the security. If they try to convince you of this, don’t believe it!
Certificate of proper execution of the contract
Even if you have signed a share purchase and sale agreement, the question of its “unilateral termination” by the seller may arise due to your “refusal to pay.” The seller may claim that the contract was not fulfilled by both parties, therefore, no legal consequences arose. To eliminate such an unpleasant situation, it is recommended to sign an act of “proper execution of the contract”, which is signed by both parties: that the shares were actually transferred, and the money was actually received in payment under this agreement (and not for some other obligations).
Receipt for receipt of money under the agreement
Confirms the fact of receipt of money, but it does not indicate the basis for its receipt. Therefore, it is recommended in the act of “proper execution of the contract” to make reference not only to the amount of payment, but also to this receipt, its date and number, so that the documents can be individualized.
Among other things, the receipt is certified by two witnesses, who, if necessary, can be involved to confirm the fact of the calculations made.
Account cash warrant
Required if the purchaser of shares is a legal entity. This is an accounting document on the basis of which money is issued for settlements with an individual. The cash order is posted according to the accounting department, which is an additional confirmation of the fact of acquisition of shares.
Registered person profile
It is filled out by the original owner of the shares and is a mandatory document (along with the transfer order) for registration in the transaction register - the implementation of an operation on the account by the registrar.
Transfer order
This is the basis for the transaction on the account by the registrar (the company itself or a professional registrar). Signatures on the transfer order can be certified by a notary, a transfer agent or a representative of a professional registrar who has been entrusted with maintaining the register of shareholders of the company whose shares are being sold.
Shareholder's power of attorney
To exercise the rights to register a transaction with the registrar, a power of attorney from the seller is often used, on the basis of which the buyer can transfer a package of documents to the registrar. It is also recommended that the power of attorney provide for the authority to judicially protect the rights of the shareholder, as well as the authority to exercise all rights belonging to the owner of the security, including the right to vote and alienate shares. This is done so that during the period of registration of the transaction no one can interfere with the exercise of the right granted by law to the owner of shares (participate in a meeting, vote, nominate candidates to the board of directors, etc.), and also cannot interfere with the registration of the purchase and sale transaction.
Spouse's consent
An important document, since often the invaders of an enterprise work not only with the shareholders themselves, but also with their relatives. For example, the seller entered into a deal with you to sell shares, but his wife did not give consent to the said deal. Shares are the common joint property of the spouses, and all transactions with such property are carried out by mutual consent. At the time of signing the agreement, the wife gave verbal consent (but this cannot be documented), and when the question of the validity of the transaction arose in court, at the court hearing, the lawyer, by proxy, proves the absence of her consent to the transaction with property (shares).
In order to exclude this situation, you should obtain notarized consent to the transaction with shares from the seller’s spouse. It is better not to risk such things, since human relationships are fragile and unpredictable things.
Revocation of powers of attorney
A document indicating that the seller of the shares did not give anyone other than the buyer a power of attorney to represent his interests in relation to this property (shares). The document is notarized and serves to eliminate conflicts of authority: in the event of persons appearing who allegedly received from the seller a similar power of attorney to manage and dispose of shares.
Letter of guarantee
A document confirming that the seller of the shares has not entered into a purchase and sale agreement with anyone other than the buyer, and also that the specified shares belong to him with full and unlimited right, are not encumbered with a pledge, as well as any other obligations to third parties, the shares do not have any rights of third parties, the Shares are not under arrest, are not the subject of a dispute in court and are not the subject of proceedings in a criminal case.
Blocking order
Gives the owner of shares the right to block transactions on the account with the registrar. It is necessary to prohibit other persons (possessing controversial powers) from performing transactions on the account. This mechanism is partly used in “double buying”, when opposing invaders re-buy shares they have already sold from the original shareholders.
Application for changing the details of a registered person
Required in case of change of surname, address or passport data of the original owner of shares registered in the register. The absence of such a document may complicate the identification of the seller of shares with the register data, and as a result, the registration of the transfer of rights to securities.
Order to issue an account statement
The order can be submitted by the new owner, but it is not always possible to wait first for the registration of the transaction and then for a response to the request for an extract. Let's say the annual meeting is tomorrow, we have a power of attorney to exercise all the powers of a shareholder of the company, but to confirm our rights we need a document - an extract from the register of shareholders, stating that Ivan Ivanovich Ivanov is the owner of a block of shares, say 10%. This is where you will need an order to issue an account statement, signed by I.I. Ivanov himself.
Agreement on trust management of shares with the right to alienate
It is an additional document that insures against unlawful revocation of the power of attorney, as well as situations of conflict of powers of the shareholder’s representatives. On the basis of this agreement, transactions for the alienation of shares can be concluded.
Special documents (designed for the acquisition of shares from the heirs of the shareholder)
Preliminary purchase and sale agreement
Signed and valid until the heir enters into inheritance rights. The agreement guarantees the rights of the heir to subsequently conclude a share purchase and sale agreement and contains the essential terms of the future agreement. As a rule, under such an agreement, prepayment is allowed against future payments under the basis of the coolie-sale agreement.
Power of attorney from the heir with the right to represent the interests of the principal upon entry into inheritance rights
To make the task of the future heir easier, you can take on the responsibility for registering his inheritance. To do this, the power of attorney states the authority to accept the inheritance, submit any applications on behalf of the Principal, including acceptance of the inheritance, as well as renunciation of the inheritance, collect certificates and documents, duplicates of documents related to the registration of the inheritance case, and receive a Certificate of the right to inheritance , register a Certificate of Inheritance.
Application for registration on one personal account
Often, when several heirs enter into an inheritance for one block of shares, a situation arises when it is impossible to divide the personal account with the registrar. Therefore, a statement signed by all heirs (possibly by proxy) is used to record shares in respect of which several heirs have inherited on one personal account.
This list is not exhaustive and in some special cases requires clarification and addition.
Checking the legitimacy of already completed transactions
The legitimacy of transactions with shares is checked using all the parameters listed above. If significant deficiencies are identified, an option to eliminate them is selected.
One of the main problems that are identified during the analysis of transactions is the implementation of transactions with shares, the issue of which has not been registered. In this case, all transactions carried out before the registration of the issue of securities (registration of additional issue) are void, that is, invalid from the moment of their completion and do not give rise to any legal consequences for the parties.
Elimination of deficiencies in voidable transactions
If some documents are missing from the stock purchase package, the best solution is to have the original owner sign the missing documents, if this is still possible (if he is alive and if he does not object). It is more difficult when, for objective reasons, this can no longer be done, since your transaction can be challenged in court at any time. Another option that can be used is the re-sale of shares to a “bona fide purchaser”, but in compliance with all necessary conditions and guarantees.
As an option to eliminate the shortcomings of the transaction, you can consider its judicial consolidation, but this should be discussed in more detail.
Accounting of transactions in the register, storage of documents.
Share purchase and sale transactions, or rather the documents confirming them, must be entered into a special register (indicating the date of the transaction, the number of shares and the parties to the transaction). Storing these documents, especially if the register itself is kept in the community, is a very important matter.
If the register is transferred to a professional registrar, you have the opportunity to confirm the legitimacy of transactions with the registrar’s data, even if the grounds (purchase agreement, deeds, receipts and other documents) are lost or missing.
If the register of shareholders is kept in the company, all documents indicating the transfer of rights to shares, on the basis of which changes are made to the register of shareholders, must be stored as carefully as the register itself. These documents are an unconditional guarantee of your rights; even if someone tries to create a “second register,” you can always prove your rights and recognize the “second register” as invalid and counterfeit.
It is recommended to store the register of shareholders and the basis for the emergence of rights to securities not in the company itself. And if the register can be transferred to a professional registrar, then it is better to put the documents in a safe - it will be more reliable in case of inspections, seizures and other actions, as a rule, initiated by invaders interested in depriving you of the legal basis for completed transactions, and as a result of your rights for your existing shareholding.
ANDRIANOVA SVETLANA SERGEEVNA
Hi all! Today we'll talk about how to buy and sell stocks online. I will try to touch on all the most basic points and nuances that will help beginners at the start.
Buying/selling shares: earnings or art
Economic instability, changes in living standards, etc. - the reasons that make most people want to invest their hard-earned money in some profitable financial instrument.
One of them, with the right approach, is, of course, the purchase and sale of various companies on.
I won’t say that this activity is easy and does not require any diligence, but on the contrary, sometimes even real talent, flair, if you like.
But, as stock statistics show, over the past few years the number of private investors who engage in independent trading in shares and other instruments has increased significantly.
The essence of this earning scheme is to “play” on the difference in the value of specific securities, and hence the opportunity to receive an impressive profit (or loss), which can contribute to further successful investing.
In order to begin to better navigate this area, you need to at least know some basic concepts, such as:
- The stock market is the place where the main movement of shares of enterprises and organizations occurs.
- Stock exchanges are special platforms where shares are bought/sold.
- – these are people or organizations acting as intermediaries in concluding transactions on the stock exchange, incl. and with shares.
All operations and transactions are carried out through brokers, and, today, you can start this type of activity even from a mobile phone, by registering on one of several reliable trading platforms, which can safely include brokers such as or.
After registration, you will need to download a program that performs the functions of a trading terminal. You can start making transactions yourself, or use the services and recommendations of the manager (broker) assigned to you.
Also, during the registration process, you will need to open an account (usually this procedure is completely free) and deposit into it the amount that will be required to start.
In order not to pay a monthly subscription fee (300 rubles for BCS) for a full-fledged terminal, for example Quik, the minimum asset value must be at least 30,000 rubles. at the end of each month.
This commission, if the amount of assets is less than the specified amount, will be reduced by the amount of the Broker's fee paid under the Tariff Plan.
At the broker Finam, about everything is the same.
By the way, you can purchase securities not only on stock exchanges. For example, Gazprom shares are offered by and.
But it is much easier and better to do this with the help of an online stock store from the Finam broker. To do this, you just need to press the button Buy shares online and follow the instructions:
Buy shares online
Making such a transaction is quite simple from the point of view of technical support.
But, in the future, you still need to start understanding special programs in order, for example, to place stop orders that are triggered when the stock price reaches a certain level.
Before purchasing an asset, you should research the company you are interested in. Assess its development prospects and determine the entry (purchase) point of the security.
Sometimes it is appropriate to read the reports of well-known analysts and analyze the information obtained with your broker assistant.
First of all, it’s definitely worth a try, but it’s important to do it wisely.
- Give the maximum amount of time to choosing a broker, since subsequently he will become not just a link between the exchange and you, but will directly influence the level of your income.
- If you invest material assets, then mainly in bonds or shares of successful companies and enterprises. According to experts, it is better for beginners to give preference to long-term passive investing than trading on the stock exchange, at least until they gain the appropriate experience and knowledge.
- It is advisable to choose the method associated with the purchase of shares of an index fund by purchasing equal shares at certain intervals. The most profitable option is to buy shares for large amounts when they fall in the market or for a smaller amount at the time of maximum growth.
- At the initial stage of working with the stock exchange, you should not rely on the so-called speculative strategy, but at the same time take into account the rapid changes in the market situation.
That's probably all the recommendations. With this I want to say goodbye to you and wish you success in your endeavors, and most importantly, do not forget to follow the updates on my blog. also subscribe to the Telegram channel t.me/site.
There are many more interesting things waiting for you!
In order to make money on securities, it is not enough to simply purchase them. It is important to be able to sell shares competently, which requires certain knowledge.
Features of selling shares
One of the key points when selling securities is the method of acquiring them. It is he who directly influences the course of the asset sales procedure.
Sale of shares received during privatization
- reseller;
- broker.
In the first case, the seller is most often a private person who is engaged in the repurchase and further resale of securities. This option will not bring large sums to their owner, since resellers offer the minimum price.
The second method is suitable for those who own a large number of assets, or the securities themselves are highly liquid. Contacting a brokerage company will allow you to sell shares at the market price.
Selling shares purchased from a broker
When shares are purchased in the “classical” way, from a broker, their new holder already understands in general terms how the stock market works and has a brokerage account. This means that the best thing in this case is to simply wait for the price of specific securities to rise, and only then sell them.
For asset owners, brokers provide numerous programs and mobile applications that will help monitor quotes and conclude transactions independently, online.
Where to sell shares
The most common platform for concluding transactions for the purchase and sale of securities is the stock market. To trade on the stock exchange, you need to understand the entire process: from factors affecting the value of assets to the stage-by-stage sale of securities to another person. Without knowing this information, the probability of making a profit is extremely small (several).
If you do not want to delve into the details of trading on the stock market, then you can contact investment companies (buyers, as mentioned above). However, such a procedure is multi-stage, which means it requires a lot of time. This option should not be considered by those whose securities are in demand on the exchange, since shares can be sold on the exchange at market value.
Procedure for selling shares
Also, the procedure for the sale depends on how the securities will be sold.
Selling shares through a broker
In order to properly sell securities, most of their holders prefer to resort to the help of brokers. All stages of concluding such a transaction are as follows:
- Concluding an agreement for the provision of brokerage services.
- Conclusion of a depository agreement.
- Registration of the transfer of shares from the holder's account to the broker's account (if the securities are held by their issuer, then a transfer order will be required).
- Filling out a form (in the personal account of the securities management program) to transfer the holder’s assets.
- Sale of shares.
- Receiving money at the broker's cash desk (usually on the first business day following the settlement date for the transaction, but no later than 3-4 days).
Brokerage services are not free.
Selling shares without a broker
The sale of assets to a private person also takes place in several stages.
Stage 1. Confirmation of ownership of shares:
- Contacting the register holder (this may be the company itself selling its securities, or the registrar).
- A request for a statement of the shareholder’s account, which indicates the full number of securities owned by the applicant.
- Receipt of the document within three working days from the date of application.
The validity period of the account statement is strictly limited, since the document is drawn up for a specific date.
Stage 2. Re-registration of property rights, which is carried out by two persons:
- Contact the registrar.
- Contact a notary.
To re-register, the holder must have a passport with him.
Stage 3. Make a deal:
- Drawing up a purchase and sale agreement between the shareholder and a private person.
- Assignment of ownership rights.
- Repurchase of shares with payment, the amount of which is specified in the agreement.
How to sell shares profitably
In order to successfully sell shares of a company, follow these recommendations:
- carefully choose an intermediary: study not only the prices for his services, but also his reputation;
- request regular receipt of reports on completed manipulations with securities and account status;
- pay taxes on the profits you make so as not to lose all the proceeds due to penalties (more details).
The main advice for non-professional traders from world analysts is to focus on long-term investments rather than frequent transactions for the sale of securities.
It is also important to independently monitor the liquidity of existing assets. It is advisable to record the data in order to be able to somewhat predict the rise or fall in value in the future. For example, Gazprom shares at the beginning of 2018 rose in value by 17.8%. This growth was a result of increased demand for the company's product. But, in general, the picture depends on the general political and economic situation, so it is better to invest in this energy enterprise for the long term.
Selling shares before the dividend cutoff
Dividend cut-off is a specific date upon which the meeting of shareholders of a particular company announces a list of persons entitled to receive part of the profit of the same company - dividends.
Selling shares before the dividend cutoff will not have a higher return than selling shares immediately after receiving dividends.
As a rule, the next day after all payments are made, the value of assets decreases precisely by the amount of dividends. Both options will involve approximately the same sale amount: in the first case, the seller will receive the entire amount at once, in the second - the principal amount from the sale of shares, and part in the form of dividends.
With the rising standard of living in our country, more and more people want to invest their money in some profitable financial instruments. Our editors receive a large number of letters asking us to explain where shares are bought, how they are stored, how they are sold, where dividends are paid and how to deal with the tax authorities if you do manage to earn something.
Indeed, the financial illiteracy of our compatriots is simply amazing. For example, in America, almost every cook monitors quotes, knows how to manage her stake and what percentage of her total income the shares she owns bring her. Having seen the obvious injustice in this state of affairs, we decided to give some practical advice to beginners who have decided to try their hand at the stock market.
If you don't know the ford, don't go into the water
So, first, identify an intermediary who will represent your interests on the stock exchange, since only a licensed and accredited specialist can buy and sell shares independently. There are many options here. This could be an investment company that guarantees you a certain annual income, usually exceeding your bank deposit. She herself determines which stocks to form your investor portfolio from.
Another option, more risky, but at the same time more productive, is a bank or a brokerage office at a bank. When choosing this option, first determine the amount that you would not mind losing if something happens. At the same time, we must not forget that the state, in the event of a default or crisis, does not guarantee the return of funds invested in shares. And when playing on the stock market, you can not only double your amount within a few days, but also lose it. Therefore, without experience, you do not need to spend all your savings on buying shares, especially if you are going to make money on their market value.
After choosing the amount and concluding an agreement with the bank’s client department, you will receive your client account where your money will be credited. Next, they go to the brokerage personal account from which payments for shares are made. Only after this the purchased securities are transferred to the “depot” account. By the way, dividends from those companies of which you are a shareholder will subsequently be transferred to your personal client account.
Buying and selling shares is extremely simple. The times when you had to go to the bank and write applications for each operation, thank God, have sunk into oblivion. Now everything can be done by phone or email. Call the traders whose phone numbers are in your contract and give instructions to buy or sell shares of a particular company within the amount available in your “depository” account. Minor formalities await you, again over the phone, in the form of a password, as well as an identification mark confirming your authority and shares in your account. Which shares, when to buy, at what price and when to sell, you decide for yourself. Don’t count on a broker’s advice: they are prohibited from doing so.
True, there is another option: you can buy shares and simply forget about them for several years. The cost of securities in the absence of force majeure circumstances, such as a global crisis and default, will likely increase significantly, and you will receive tax benefits and annual dividend payments as gratitude for your “long-term investments.” As an example, we can take LUKOIL shares: in 2003. the cost of one paper was 596 rubles, in 2008. - 1832 rubles, and in August 2011 - 1739 rub. Shares of Rostelecom in October 2003 cost 54.4 rubles per share, in October 2008. -220 rubles, and in October 2011 - 143 rub.
Papier-mâché palace
Having become an advanced private broker, get used to the idea that everything in one way or another related to the purchase and sale of shares will now be done for you electronically. Having bought, for example, shares of Rosneft, do not wait at the mailbox for a letter with bright, beautiful pieces of paper and holograms. The shares will be credited in the form of an electronic record of them to your “depository” account, and the data will be stored in the depository. You will receive approximately the same form of reporting from the bank’s client department about your transactions with shares and the status of your account. The scheme for receiving reports - and this may not only be email - must be agreed upon with the client department in the service agreement. You can receive the report by mail, or by visiting the bank yourself.
By the way, red tape with reporting is not a very pleasant thing, but it is necessary. Place all broker reports in a separate folder, no matter whether electronic or paper. Subsequently, you will appreciate the wisdom of your actions. These reports about your “art” will then help you build charts and understand how and why you were wrong when making a decision to buy or sell a particular security. These pieces of paper will help you launch your “memory of feelings” and understand the nature of your actions, which will ultimately lead to the acquisition of invaluable experience gained from your own successes and mistakes.
A spoon of tar
In any country in the world, tax authorities are disliked, but here especially. And it’s not surprising, because the rules of the game change before they have time to take root. About ten tax schemes have been used in Russia since the 90s, when the first stock exchanges appeared. Let's not remember them, this is a thing of the past. But now there is, at first glance, a simple taxation scheme that provides for the payment of 13% tax on the amount of profit. However, it also has many pitfalls.
For example, during one year you, having sold shares of a company at a profit, bought shares of another. It would seem that you did not withdraw funds to the current account, the money was again invested in the development of a domestic company, but tax will be charged to you, and you are obliged to pay it. True, if your bank is a tax agent, it can transfer taxes for you if there is a sufficient amount in your “deposit” account for this.
But even in this case, you should not relax, since you are still required to file an income tax return. If you didn’t know about this and move on with your life in peace, because you know that taxes have been paid, you will receive unpleasant news about a fine for failure to file a return. Let's say you made a profit from trading shares equal to 100 thousand rubles, the tax on it will be 13 thousand rubles, and the penalty for not filing a return on time is 30% of the tax. It turns out 3.9 thousand rubles. This is only per year, but if 10 years have passed, then do the math yourself.
If you are well prepared and know about the need to file a declaration, then this will not free you from problems with the tax inspectorate, since not every inspectorate has specialists in stock transactions, and where they are, they, as a rule, are not interested in you . It is impossible to fill out this document yourself due to the presence of unclear codes and words with vague meanings. True, companies located next to inspections helpfully offer assistance in filling out the declaration. You can, of course, use it for “only” 10 thousand rubles, but you are unlikely to be satisfied with such a prospect.
A short guide to action for those who decide
- Choose an intermediary broker.
- Conclude an agreement with a broker.
- Determine the scheme for communication and obtaining information from the broker.
- Create a folder for documentation.
- Monitor daily quotes of the stocks you bought. Enter the data into a folder.
- At the end of the year, negotiate with the broker a tax payment scheme in case of purchase and sale transactions.
- If there were transactions in the current year, submit the declaration by the end of April next year.
Advice from professionals
Finally, we decided to collect advice from professionals. For someone who has decided to try their hand at the stock exchange for the first time, these recommendations can turn out to be quite valuable.
The head of the Quote.ru financial project, Kirill Shishov, considers it very important for someone who has decided to try his hand at the stock market to choose an intermediary company, that is, a broker who will subsequently be the main link between you and the stock exchange. Finding them is quite easy. You just need to not be lazy and climb onto the pages of rating portals. We will, of course, advise you on the agency where you can find ratings of the largest investment companies.
Analysts at Rye, Man & Gor Securities, in turn, believe that the stock market, and the stock market in particular, is a very effective investment tool. Therefore, part of the portfolio must be invested in the stock market, in particular in its main instruments - stocks and bonds. As practice shows, long-term passive investing over a sufficiently long period of time is a more profitable strategy compared to daily trading, at least for people who do not trade the stock market professionally.
The head of analytical research at Uralsib Management Company, Alexander Golovtsov, offers beginners two schemes. The best way is to buy shares of an index fund in equal shares at regular intervals. A more advanced option is to buy a slightly larger amount when the market is falling and a slightly smaller amount after a strong growth (for example, by 25% per quarter). Such a pre-made plan helps to cope with emotions: novice investors often panic and sell shares close to the “bottom”, but in a growing market, on the contrary, they want to buy more than usual.
Of course, any strategy must be long-term to minimize the impact of market cycles on profitability. The ideal period is 10 years. Day trading leads to ruin sooner or later 99% of the time because you are essentially competing with insiders who have much better access to information as well as technical knowledge.
The head of the brokerage operations department of Master Bank, Pavel Lednev, recommends that if you start trading shares right now, you should adhere to a speculative strategy. Considering the fact how quickly and significantly the market situation changes, it is important to correctly cover the entire information background that enters the market.
Nikolai Podlevskikh, head of the analytical department of Zerich Capital Management Investment Company, also believes that long-term investing is in some sense simpler and is often more effective, especially if the market shows good growth. However, investing for short periods of time, setting stop losses (exchange orders placed by a trader to limit his losses when the price reaches a predetermined level), monitoring the current situation and making buy-sell decisions as the situation changes are more likely to help reduce overall investment risks.
In addition, experts loudly advise that before you start trading stocks and bonds, you should thoroughly familiarize yourself with the tax scheme, otherwise the claims that the tax authorities may subsequently make will not seem lenient to you.
Ernst & Young expert Gelagio Dikko notes the decision adopted in December 2010 as a positive factor. changes in tax legislation, according to which income from the sale of shares acquired after January 1, 2011. and continuously owned for more than 5 years will be exempt from personal income tax. This exemption applies only to shares of Russian companies listed on an organized market, or to non-traded shares of companies in the high-tech (innovative) sector of the economy. Of course, taking into account the fact that the results of the above-mentioned innovation will be known no earlier than 2016, it is too early to draw any conclusions, the specialist clarifies.
In turn, Galina Romanyuk, director of the retail services department at Deutsche UFG Capital Management, says that the current taxation scheme does not motivate the population. Deposits are not taxed, are partially guaranteed by the state, and do not need to be declared. In relation to transactions with securities, a completely different approach: income must be declared, despite the fact that the tax has already been paid by the tax agent.
Moreover, if income is received in different places, they will have to be combined into a single form by obtaining the appropriate documents from each tax agent. At the same time, the expert notes that among the advantages of the applied tax scheme is the possibility of taking losses into account in future income. However, unfortunately, tax agent reporting forms do not require submitting information about the occurrence of a loss, which will lead to great difficulties in obtaining this deduction.
G. Romanyuk believes that taxes should motivate long-term investments, and the optimal tax scheme is one in which there is no interaction between the common person and the tax authorities.
Elena Zabello, RBC