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How an NRI can sell shares in their resident demat account?

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NRIs can sell your existing shares held in the resident demat account on a non-repatriable basis. Following are a few preferred ways to handle these shares:

  • Open an NRO Bank Account, convert your resident demat account to an NRO demat account and open an NRO trading account. All holdings from your resident demat will be transferred to the new account. You can keep them in the new account or sell them. The money received from this sale is not repatriable.
  • Transfer the shares to your family members in India (resident demat account).
  • You can also continue holding the shares in the existing demat account (resident) if you do not have plans to sell them in the near future.

Note:

  • Once you become an NRI, as per the RBI Laws, you have to inform your broker about your new status.
  • Consult the NRI unit of your existing broker to help you with the transfer.
  • If your broker doesn't offer NRI Account, contact another broker and they will facilitate the offline transfer of shares.



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