The 60-second version
Falkland Islands custody exit needs sell holdings, tax summary, depot termination, and GBP SWIFT to NRE before India tax residency.
Redeem fund units before depot closure — Falkland Islands may not tax capital gains but India may on sale
Standard Chartered Stanley / UK broker custody provide offshore fund and bond custody — obtain annual holding statement before termination.
Plan sell orders 30+ days ahead — GBP settlement must clear before linked bank closure.
Bank lane: Falkland Islands bank guide after custody zero.
Falkland Islands custody wind-down
| Account | Currency | Step |
|---|---|---|
| Standard Chartered Stanley | GBP | Redeem + close |
| Fund admin | GBP | Redemption confirm |
| Linked bank | GBP | Close after depot |
| NRE | INR/USD | SWIFT receipt |
Closure
Inventory
List holdings.
Redeem
Sell funds/bonds.
Tax stmt
Admin summary.
GBP wire
SWIFT to NRE.
Schedule FA
Last FY asset.
Flow
Falkland Islands custody kit
- Holding stmt.
- Redemption confirms.
- Closure letter.
- SWIFT.
- Passport copy.
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Carried interest
Hedge-fund carried interest units may need separate administrator exit — do not assume bank custody holds all economics.
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Local CG tax?
Falkland Islands typically has no personal CG tax — India taxes on sale if resident in overlap year.
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 Falkland Islands bank guide.
Form 8938?
US person — FATCA if specified foreign financial asset thresholds met.
Trust custody?
Trustee must sign if legal owner is trust.
Your NRE account redesignation has a deadline.
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