The 60-second version
Grenada custody exit needs redeem holdings, depot termination, and XCD SWIFT to NRE before India tax residency.
Local or nominee custody — Grenada holdings settle in XCD
Republic Bank Grenada Custody / ECCB nominee provide equity and fund custody — obtain holding statement before termination.
Redeem units 30+ days before departure — XCD settlement must clear before bank closure.
Bank lane: Grenada bank guide after custody zero.
Grenada custody wind-down
| Account | Currency | Step |
|---|---|---|
| Republic Bank Grenada Custody | XCD | Redeem + close |
| Fund admin | XCD | Redemption confirm |
| Linked bank | XCD | Close after depot |
| NRE | INR/USD | SWIFT receipt |
Closure
Inventory
List holdings.
Redeem
Sell funds.
Tax stmt
Admin summary.
XCD wire
SWIFT to NRE.
Schedule FA
Last FY asset.
Flow
Grenada custody kit
- Holding stmt.
- Redemption confirms.
- Closure letter.
- SWIFT.
- Passport copy.
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US nominee
Many Grenada accounts hold US-listed ETFs via Miami correspondent — close US brokerage guide if account sits onshore.
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Local exchange?
May use local exchange or bank nominee — verify on holding statement.
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 Grenada 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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