The 60-second version
China brokerage exit needs sell holdings, tax summary, depot termination letter, and CNY SWIFT to NRE before India tax residency.
Sell depot holdings before bank closure — China CG may apply on non-resident exit
CITIC Securities and Huatai Securities provide securities custody — obtain annual tax statement before depot termination.
Plan sell orders 45+ days ahead — CNY-denominated funds need settlement before wire.
Bank lane: China bank guide after depot zero.
China depot wind-down
| Institution | Tax doc | Step |
|---|---|---|
| Depot | CG stmt | Sell + close |
| Funds | CNY NAV | Redeem |
| Linked bank | CNY | Close after depot |
| NRE | INR/CNY | SWIFT receipt |
Closure
Sell
Liquidate holdings.
Tax
CG if required.
Close depot
Termination letter.
Wire CNY
SWIFT to NRE.
Schedule FA
Last FY foreign asset.
Flow
China 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.
Form 8938?
US person — FATCA if specified foreign financial asset thresholds met.
DTAA?
Model CG in India ITR with Form 67 foreign tax credit.
Linked bank?
Close CNY account only after depot zero.
Trust depot?
Trustee must sign if legal owner is trust.
Your NRE account redesignation has a deadline.
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