The 60-second version
Cyprus brokerage exit needs sell holdings, TAXISnet CG summary, depot termination letter, and EUR SWIFT to NRE before India residency date.
TAXISnet CG before EUR wire — not just broker letter
Cyprus taxes capital gains on securities disposals — obtain broker annual summary and reconcile on TAXISnet before closing depot.
Bank of Cyprus Securities and EU IBKR Cyprus entity are common — sell EUR ETFs, wire proceeds, then close linked EUR account.
Med neighbour: Malta brokerage guide.
Cyprus brokerage wind-down
| Broker | Tax doc | Step |
|---|---|---|
| BoC Securities | CG stmt | Sell + close |
| XM / CFD | P&L export | Close if retail |
| IBKR Cyprus | Annual summary | Wire USD/EUR |
| Linked bank | EUR | Close after depot |
Closure
Sell
Liquidate holdings.
TAXISnet
File CG if required.
Wire EUR
SWIFT to NRE.
Close depot
Termination letter.
Schedule FA
Last FY foreign asset.
Flow
Cyprus brokerage kit
- Trade confirms.
- TAXISnet PDF.
- Closure letter.
- SWIFT.
- TIN card.
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CFD accounts
XM-style CFD is not securities depot — separate P&L export for India business income if active trader.
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Keep EU ETF?
Schedule FA if retained abroad — most close Cyprus depot.
Form 67?
If Cyprus CG taxed same FY as India gain.
US person FBAR?
Cyprus accounts in USD 10k aggregate test.
Greece neighbour?
Greek brokerage guide if parallel Athens depot.
Dividend WHT?
Cyprus WHT — treaty relief via Form 67.
euro account stays?
Close or convert to NRE after depot zero.
Your NRE account redesignation has a deadline.
Banks don't remind you. You need the right account stack before salary, rent, and EMIs start moving. Get the exact sequence.