Q.1246 Is OCI required to sell

Indian stocks held by USA NRI?

Question: Hi, My name is Harsh and I live in Los Angeles, California - USA. My parents and I are US Citizens and we have renounced our Indian citizenship. We have yet to apply for OCI or any other type of Indian visa. My parents own stocks/properties/bank account in India and they want to sell some of their stocks in India and convert the amount into dollars or travelers check and bring it to USA. Questions: 1 - Do they need OCI to sell their stocks in India? They have PAN card, US Passport and Adhar card. They do not have an NRO or NRE accounts. 2 - What is the best way to bring money to the US? Travelers check or cash or another way? They need to get this done in 1.5 month so please respond as soon as possible. Thanks, Answer: Regarding your questions: 1. Do they need OCI to sell their stocks in India? They have PAN card, US Passport and Adhar card. They do not have an NRO or NRE accounts.  OCI not required. Non Resident Bank account [NRO] will be required to deposit sale proceeds 2. What is the best way to bring money to the US? Travelers check or cash or another way?  Indian Bank to USA bank transfer