The 60-second version
Ascension Island custody exit needs redeem holdings, depot termination, and GBP SWIFT to NRE before India tax residency.
No local exchange — Ascension Island custody is bank or UK broker nominee
Bank of St Helena Custody / UK broker nominee provide fund and bond custody — obtain holding statement before termination.
Redeem units 30+ days before departure — GBP settlement must clear before bank closure.
Bank lane: Ascension Island bank guide after custody zero.
Ascension Island custody wind-down
| Account | Currency | Step |
|---|---|---|
| Bank of St Helena Custody | GBP | Redeem + close |
| Fund admin | GBP | Redemption confirm |
| Linked bank | GBP | Close after depot |
| NRE | INR/GBP | SWIFT receipt |
Closure
Inventory
List holdings.
Redeem
Sell funds.
Tax stmt
Admin summary.
GBP wire
SWIFT to NRE.
Schedule FA
Last FY asset.
Flow
Ascension Island custody kit
- Holding stmt.
- Redemption confirms.
- Closure letter.
- SWIFT.
- Passport copy.
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UK nominee
Many Ascension Island accounts hold UK-listed ETFs via London nominee — close UK brokerage guide if HIN sits onshore.
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Local exchange?
No — custody via bank or UK broker nominee.
Schedule FA?
Declare foreign financial asset in last FY held.
FBAR?
US person — FinCEN 114 if aggregate > USD 10K.
vs bank?
Close bank after custody zero — see Ascension Island bank guide.
CG tax?
India may tax on sale in overlap year — Form 67 if foreign tax paid.
Trust?
Trustee must sign if legal owner is trust.
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