10 Things to Complete before you become NRI” … Sell your shares and open a new NRI demat account …….

POSTED BY Dinesh Gupta ON January 17, 2013 11:46 pm ONE COMMENT

The write-up “10 Things to Complete before you become NRI” and specifically the 9th point “Sell your shares and open a new NRI demataccount – Once you become an NRI, you will not be able to sell off your existing demat account shares which you bought before becoming a NRI. You can open & operate a NRI demat account. So before you become an NRI, a good idea is to sell off the existing shares and take back the money or the another option is to open a NRI demat account and transfer your existing stocks to this new account.” is very enlightening.

I have a small question. Can the son or married daughter who has become NRI and who could not close demat account liquidate the same by gifting the entire holding to his/her father or mother?

Is selling the entire holding, and not buying/selling, also trading?
Pl. take the trouble to clear such points. It shall be highly appreciated.

DC Gupta

One reply on this article “10 Things to Complete before you become NRI” … Sell your shares and open a new NRI demat account …….”

  1. Dear Dinesh, yes the offline transactions (gifting) can be done.

    Thanks

    Ashal

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