A transfer system is described including a subsea installation fixed relative to a seabed, and a transfer element for transfer of fluid, electrical signals, or electric current between the subsea installation and a floating arrangement. The transfer element is configured to connect to the subsea installation and includes a connector for connecting to the floating arrangement. The transfer system includes a buoyancy element anchored to the seabed, and has a through-going hole in the vertical direction. The transfer element extends through the hole and is movable in both directions through the hole. The transfer element includes a fender system that extends at least partially around the circumference of the transfer element. The fender system abuts the buoyancy element when the transfer element is suspended. When the transfer element is suspended, the transfer element forms an S-shape or J-shape between the subsea installation and the buoyancy element.