can somebody make me clear about this??

(taken from icann site)
Can I change registrars after registering a domain name?

Yes, you may change the registrar sponsoring your domain name (60 days after intial registration.) For details on the transfer process, contact the registrar you would like to assume sponsorship of the registration


Does it mean that if today i register a domain name with godaddy and want to transfer it to namecheap... i cant do it before next 60 days ??

exactly :-)

You need to wait the customary 60 days before you transfer to a registrar of your choice

but can i change the owner before 60 days as i am planning to gift a domain name to my friend??

Why not just move to a registrar where they offer free internal change of ownership? You bypass the 60 day rule

thanks dmaven.

one last question, is it necessary to provide DNS setting (name servers) as i wont be having this information because i am not planning to host it somewhere.

Registrars that offer url forwarding etc normally require you use their nameservers anyway

If you want to transfer a domain away from Godaddy make sure you do the registrant change AFTER the transfer. If you change the registrant Godaddy will make you wait 60 days after the registrant change. Not an ICANN rule, just an internal Godaddy rule. I fell foul of that when I bought a domain from someone, finally got the domain out of GD's claws last week - hooray!

If you want to transfer a domain away from Godaddy make sure you do the registrant change AFTER the transfer. If you change the registrant Godaddy will make you wait 60 days after the registrant change. Not an ICANN rule, just an internal Godaddy rule. I fell foul of that when I bought a domain from someone, finally got the domain out of GD's claws last week - hooray!

Godaddy will do anything to keep a registrant from leaving


Somewhat analagous to the roach motel, they check in but they never check out

I've successfully transfered domains away from GoDaddy. I don't recall any major problems which weren't in protecting my interests. It wasn't as smooth as some other registrars transfers. Transferring between GoDaddy accounts is a pretty simple process, even if it is a bit more complex than other registrars. They can be a bit of a pain enforcing the 60 day wait if you update the registant info though. If you have privacy on the domain, you have to release the privacy before they'll agree to a transfer. Others have said that that also initiates a sixty day wait period (which is a bit stupid).

I like the roach motel analogy, anyway :)