Disclosures
Updated: July 13th, 2022
Baytukum Tech Ltd (“Baytukum”)”) is an entity registered in the Dubai International Financial Centre (DIFC) and licensed and regulated by the Dubai Financial Services Authority (“DFSA”).
RISK WARNING: Investments in property and unlisted shares carry a risk. Your capital may be at risk, and you may not receive the anticipated returns.
No direct Ownership of Property
Investors will not own the property; rather the investor will have an interest in another legal entity that owns the property. As the investor’s interest in that entity is not listed or traded, it may be difficult to sell the interest because of a lack of investors willing to buy such an interest. So, the investor must be prepared to commit to investing for the full investment period.
Investment Risks
Investment in real estate is speculative, the market value of property can fall, and rental income is not guaranteed;
Baytukum does not remove any of the risks that you may experience should you acquire a residential property directly and outright (i.e., without a mortgage). Some additional risks are introduced by virtue of shared ownership and timing of your exit.
The real estate market can experience downturn affecting your property valuation. Forecasts and past performance are not a reliable indicator of future performance.
If for any reason the operator ceases to carry on its business, investors may lose their capital money, incur costs or experience delays in the investment being wound up.
Advice
Baytukum does not provide any investment advice and no assessment is made to determine if an investment is suitable for investors. All information is provided to help you make your own informed decisions. You must rely on your own due diligence before investing, if in doubt, please seek the advice of an independent financial adviser.
Variable Income
Whilst Baytukum provides gross rental income estimates based on information from third parties, these are not guaranteed. It may be that lower rents are secured. Furthermore, rental income could cease completely for certain periods. In the event of a tenant failing to meet its obligations to the owner of the property, investors will experience a fall in the cash receipts and cash available for distribution to them. From time to time, vacancies can be expected to arise in the operation of real estate assets. In some cases, sizable vacancies may mean there is less cash available for distribution to investors.
The value of your Baytukum investment can go down as well as up and historic performance is not a guide to future performance. Achievement of rental and capital returns will depend on a range of factors including the property asset as well as the wider economy. A fall in the value of your investment may be due to a number of reasons, such as a fall in the underlying value of the property or a problem with the property that will need to be funded from future rental income. Economic, political, and legal issues can affect values as they would other asset classes. Any future downturn in the real estate market could materially adversely affect the value and income generated from a property investment. Investors are to individually assess and establish their level of comfort with this risk from the outset.
Liquidity
As real estate is an asset that cannot always be easily sold, it may be difficult to sell the property at the end of the investment period, resulting in a delay in investors receiving their capital or in the property being sold at a loss.
Once the secondary market is operational, you will be able to advertise your investment for sale to other Baytukum users at any point. However, there may not be anyone willing to buy your investment at a price that you deem reasonable (or buy it at all). In that event you will be required to wait until the end of the investment term for an exit. Even at this point, the timing and ability to exit will depend on completion of a transaction to sell the underlying property. This transaction could take several months.
Client Money
Clients of Baytukum are subject to the protection conferred by the DFSA’s Client Money Provisions.
Client Money will be held separate from Money belonging to Baytukum; and in the event of the Authorised Firm’s insolvency, winding up or other Distribution Event stipulated by the DFSA, the Client’s Money will be subject to the DFSA’s Client Money Distribution Rules. Interest on Client Money is not payable to you as a Client of Baytukum.
Custodian Account
Client Money is held by Baytukum in a segregated Client Account with Emirates NBD and are fully regulated to hold client money for the purpose of investment. Whilst Emirates NBD is accountable to Baytukum for the safe keeping of its Client Money, Emirates NBD does not have a relationship with Baytukum’s clients directly. Therefore, Baytukum is wholly accountable for our investors “Client Money”. Baytukum has undertaken due diligence of Banks’s custodial systems and controls and deemed fit and proper to hold Client Money on Baytukum’s behalf.
Updated: February 28th, 2022
This Privacy Policy explains how information about you is collected, used and disclosed by Baytukum Tech Ltd (“Baytukum” or “we” or “us”). This Privacy Policy applies to information we collect when you use our websites, mobile applications and other online products and services (collectively, the “Services” ). This Privacy Policy does not apply to the information collected from: (1) web-based applications that are based on our mobile applications but are published by third parties, (2) mobile applications that we distribute on behalf of third parties and which are hosted and operated by such parties.
We may change this Privacy Policy from time to time. If we make changes, we will notify you by revising the date at the top of the policy and, in some cases, we may provide you with additional notice (such as by adding a statement to our homepage or mobile applications or by sending you an email notification). We encourage you to review the Privacy Policy whenever you access the Services to stay informed about our information practices and the ways you can help protect your privacy.
Collection of Information:
INFORMATION YOU PROVIDE TO US
We collect information you provide directly to us. For example, we collect information when you if you invest in any of our products or services, create an account, manage your user profile, participate in any interactive features of the Services, request our e-newsletter or other marketing communications, participate in a promotion or survey, request customer support or otherwise communicate with us, assessing customer suitability for products and services, Anti Money Laundering (AML), Know Your Customers (KYC) assessments, setting investor risk profile and if you make payments or modify your account details.
The types of information we may collect include your name, email address, postal address, photograph, password, forum posts and comments, and other contact or identifying information you choose to provide.
INFORMATION WE COLLECT AUTOMATICALLY WHEN YOU USE THE SERVICES
When you access or use our Services, we automatically collect information about you, including:
User Information:
We may use your Personal Information for any of the following purposes: (i) to under-stand how users use the Website; (ii) to administer, develop, or improve the Website; (iii) to respond to specific requests from users; (iv) to protect the security or integrity of the Website; (v) to send notices of special promotions, offers or solicitations; (vi) to conduct market research surveys; (vii) to promote and market Our business and various products; (viii) to provide you with the services you request or are otherwise offered through the Website; (ix) to enforce the Website Terms of Use and this Privacy Policy, and to other-wise comply with all laws, rules, and regulations.
Information Collected by Cookies:
We use various technologies to collect information, and this may include sending cookies to your computer or mobile device. Cookies are small data files stored on your hard drive or in device memory that helps us to improve our Services and your experience, see which areas and features of our Services are popular and count visits. For more information about cookies, and how to disable them, please see “Your Choices” below.
Other Information Collected with Permission:
Our mobile applications that are distributed through various “app” stores may also request permission to automatically collect other information from your mobile device, including your email address. We may only collect this information with your authorization in accordance with your device operating system’s permission process.
INFORMATION WE COLLECT FROM OTHER SOURCES:
We may also obtain information from other sources and combine that with information we collect through our Services. For example, if you create or log into your account through a social media site, we will have access to certain information from that site, such as your name, account information, profile picture, phone number, email address, gender, date of birth and friends lists, in accordance with the authorization procedures determined by such social media site.
Use of Information
We may use information about you for various purposes, including to:
· We reserve the right to access and disclose your personal data if we are required to do so by law, or if it is necessary for the proper operation of our systems, the protection of Baytukum or its users and customers, or for the enforcement of our Terms and Conditions;
· Processing applications made by you, running your accounts, providing our services, contacting you and
· Servicing our relationship with you; administration and accounting, billing and auditing and other legal purposes;
· Security, payment verification, preventing and detecting money laundering, fraud and other crime, recovering debt; and
· Generating statistics on our users, such as the popularity of certain of our services, about the “traffic” on our websites. When we do this, data is anonymized and you are not personally identifiable.
· To provide you, or permit selected third parties to provide you, with information about goods or services we feel may interest you.
· To notify you about changes to our service; and
· To ensure that content from our site is presented in the most effective manner for you and for your computer
· To administer our site and for internal operations, including troubleshooting, data analysis, testing, research, statistical and survey purposes;
· To improve our site to ensure that content is presented in the most effective manner for you and for your computer;
· To allow you to participate in interactive features of our service, when you choose to do so;
· As part of our efforts to keep our site safe and secure;
· To measure or understand the effectiveness of advertising we serve to you and others, and to deliver relevant advertising to you; and
· To make suggestions and recommendations to you and other users of our site about goods or services that may interest you or them.
Baytukum is based in the United Arab Emirates and the information we collect is governed by UAE Laws. By accessing or using the Services or otherwise providing information to us, you consent to the processing and transfer of information in and to the UAE and other countries.
Sharing of Information
We may share information about you as follows or as otherwise described in this Privacy Policy:
· Business partners, suppliers and sub-contractors for the performance of any contract we enter into with them or you;
· Advertisers and advertising networks that require the data to select and serve relevant adverts to you and others;
· Analytics and search engine providers that assist us in the improvement and optimisation of our site; and
· Credit reference agencies for the purpose of assessing your credit score where this is a condition of us entering into a contract with you.
· We may disclose your personal information to third parties:
· In the event that we sell or buy any business or assets, in which case we may disclose your personal data to the prospective seller or buyer of such business or assets;
· If we or substantially all of our assets are acquired by a third party, in which case personal data held by it about its customers will be one of the transferred assets; and
· If we are under a duty to disclose or share your personal data in order to comply with any legal obligation, or in order to enforce or apply any agreements between you; or to protect the rights, property, or safety of us, our customers, or others. This includes exchanging information with other companies and organisations for the purposes of fraud protection and credit risk reduction
We may also share aggregated or de-identified information, which cannot reasonably be used to identify you.
Retention of your data
Your personal profile and data form will be retained whilst you continue to be an active free or paid member, and for up to 7 years following cessation of membership activity.
In all other cases, we will erase or make your data anonymous once it is no longer necessary to retain for the purpose, we obtained it for.
Monitoring
To the extent permitted by law, Baytukum may record and monitor your communications with us to ensure compliance with our legal and regulatory obligations and our internal policies. This may include the recording of telephone conversations.
Right of Access
Subject to applicable law, regulations and/or real-estate industry guidelines, you may have the right to request a copy of the personal information processed in relation to you. Baytukum may be allowed, by law, to charge a fee for providing you with a copy of your personal information.
To request a copy of your personal information, please contact us on hello@baytukum.ae , or +971 50 988 5553
Social Sharing Features
The Services may offer social sharing features and other integrated tools (such as the Facebook “Like” button), which let you share actions you take on our Services with other media, and vice versa. The use of such features enables the sharing of information with your friends or the public, depending on the settings you establish with the entity that provides the social sharing feature. For more information about the purpose and scope of data collection and processing in connection with social sharing features, please visit the privacy policies of the entities that provide these features.
Analytics, Advertising and Other Services Provided by Other Companies
We may allow third parties to serve advertisements in connection with our Services, to provide analytics services. These third parties may use cookies, web beacons, your account information (that you set up with these third parties) and other technologies to collect information about you on our Services and other websites and online services, such as your IP addresses, identifiers associated with your mobile device or applications on the device, the browsers you use to visit our Services, pages viewed, time spent on pages, links clicked, and conversion information. These third parties may also share this information with their customers and clients. This information may be used by Baytukum, and these other companies and their customers and clients, to analyze and track data, determine the popularity of certain content, deliver advertising and content targeted to your interests, and better understand your usage. Some of these third-party analytics and advertising services offer you a choice to opt out the collection of and/or sharing of this information; This Privacy Policy does not apply to, and we are not responsible for, third-party cookies, web beacons, or other tracking technologies.
Security
Baytukum takes reasonable measures to help protect information about you from loss, theft, misuse and unauthorized access, disclosure, alteration and destruction.
YOUR CHOICES
Website Account Information
You may update, correct or delete your website account information, which includes your username, password, email address and avatar, by logging into your website account and managing your profile. If you wish to delete or deactivate your website account, please email us at: lt;a href=”mailto:hello@baytukum.ae”>hello@baytukum.ae , but note that we may retain certain information as required by law or for legitimate business purposes. We may also retain cached or archived copies of your website account information for a certain period of time.
Cookies
Most web browsers are set to accept cookies by default. If you prefer, you can usually choose to set your browser to remove or reject browser cookies. Please note that if you choose to remove or reject cookies, this could affect the availability and functionality of our Services.
Push Notifications
With your consent, we may send push notifications (or “alerts”) to your mobile device to provide service information, service updates, promotional communications, and other related messages. You can deactivate push notifications by changing your notification settings via your device.
Promotional Communications
You may opt-out of receiving promotional messages from Baytukum by following the instructions in those messages or by contacting us at hello@baytukum.ae
If you opt out, we may still send you transactional or relationship messages, such as those about your account or our ongoing business relations.
Third Party Links and Services
The Website may contain links to other websites that may not be owned or operated by Us. We cannot control nor are responsible for the privacy practices or content of such other applications or websites. We encourage you to read the privacy statements of each application that you use and website that you visit.
Contact Us
If you have any questions about these Terms, you may contact our support team.
Updated: February 28th, 2022
- I declare to the best of my behalf and knowledge that all information provided to Baytukum are true and complete.
- I understand that the statements made in this application will form the basis upon which I will become a client of Baytukum and that any material change may affect this.
- I declare that I am acting on my own behalf.
- I confirm at the time of this registration I’m not a citizen or resident for tax purposes of United State of America.
- I undertake to advise Baytukum in writing in the events of any material change to my circumstances from the date of this application until I cease to be a client of Baytukum.
- Further, I consent to Baytukum using all the information provided during this registration process for internal and external verification of my application.
- I have reviewed and understood the key risks and disclosures.