The 60-second version
Bahraini brokerage exit needs sell BHB holdings, tax summary, depot termination letter, and BHD SWIFT to NRE before India tax residency.
Sell BHB holdings before BHD wire — Gulf CG may apply on non-resident exit
ABC Islamic and Al Salam Bank brokerage provide BHB custody — obtain annual tax summary before depot termination.
Plan sell orders 45+ days ahead — BHD-denominated funds need settlement before gratuity wire.
Bank lane: Bahraini bank guide after depot zero.
Bahraini depot wind-down
| Broker | Tax doc | Step |
|---|---|---|
| Depot | CG stmt | Sell + close |
| BHB | Local stocks | Plan liquidity |
| Linked bank | BHD | Close after depot |
| NRE | INR/BHD | SWIFT receipt |
Closure
Sell
Liquidate BHB holdings.
Tax
CG if required.
Close depot
Termination letter.
Wire BHD
SWIFT to NRE.
Schedule FA
Last FY foreign asset.
Flow
Bahraini brokerage kit
- Trade confirms.
- Tax summary.
- Closure letter.
- SWIFT.
- Passport copy.
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Linked custody
Close depot before linked bank — bank may block closure with open securities account.
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Schedule FA?
Declare depot in last FY you held foreign brokerage.
FBAR?
US person — FinCEN 114 if account aggregate > USD 10K.
Gratuity wire?
Wire brokerage proceeds before final EOS if same bank account.
Linked bank?
Close BHD account only after depot zero.
DTAA?
Model CG in India ITR with Form 67 foreign tax credit.
US person?
Form 8938 if FATCA thresholds met.
Your NRE account redesignation has a deadline.
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