139. Selling old paper stocks in India
Q: Dear Mr. Chand, We are holding several Indian companies stocks into paper certificates. Now we're residing in US and US citizens. I've stocks into several my family members names in total 4 members. How I can sell them? What procedure I need to follow? My 2 family members have OCI's while my sons has no OCI status. We will appreciate your guidance in this matter. Regards, Sanjay Hemini Pandya A. To sell paper stocks in India: 1. You need to get a Pan Number 2. Open a Demat account 3. Use the required dematerialisation form to convert paper stocks to electronic format and deposited in your demat account. Just to give you an idea of a dematerialisation form, I am providing a sample form link HERE 4. Your bank where you open a Demat account or Broker should be able to help you complete all formalities. If you decide to use a broker be careful that you don't hand over the original stock certificates to them.
Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional
accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been
stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail.
© Copyright 2006 Nriinformation.com
NRI - OCI - PIO Guide & Information
139. Selling old paper stocks in
India
Q: Dear Mr. Chand, We are holding several Indian companies stocks into paper certificates. Now we're residing in US and US citizens. I've stocks into several my family members names in total 4 members. How I can sell them? What procedure I need to follow? My 2 family members have OCI's while my sons has no OCI status. We will appreciate your guidance in this matter. Regards, Sanjay Hemini Pandya A. To sell paper stocks in India: 1. You need to get a Pan Number 2. Open a Demat account 3. Use the required dematerialisation form to convert paper stocks to electronic format and deposited in your demat account. Just to give you an idea of a dematerialisation form, I am providing a sample form link HERE 4. Your bank where you open a Demat account or Broker should be able to help you complete all formalities. If you decide to use a broker be careful that you don't hand over the original stock certificates to them.
© Copyright 2006 Nriinformation.com
NriInformation FAQ
Read Disclaimer at bottom of page
