Close Italian Brokerage After India Move
Directa/Fineco conto titoli sell-down, 26% CGT, and EUR wire to NRE.
The 60-second version
Italian brokerage wind-down needs sell of Borsa Italiana / ETF holdings, modello 730/Redditi capital gains line, broker closure, and EUR remittance with Schedule FA in India.
26% flat CGT applies on Italian securities gains
Italy withholds or reports capital gains on disposal — selling after India residency still may trigger Italian reporting on Italian situs assets.
Directa, Fineco, Webank conto titoli close after zero positions and cash withdrawn.
Retain annual broker tax report (certificazione) for India Form 67 DTAA credit.
Country: Italy tax residency guide.
Italian broker wind-down
| Asset | Italy tax | India reporting |
|---|---|---|
| Borsa Italiana shares | 26% CGT | Schedule FA + CG |
| UCITS ETF via IT broker | 26% on gain | Schedule FA |
| Italian gov bonds | Often exempt | Still declare holding |
| EUR cash | No CG | Wire to NRE |
| Pir / long-term wrappers | Special rules | Check lock-in |
Italian brokerage close sequence
Download holdings
Broker statement + cost basis.
Sell positions
Liquidate stocks/ETF to EUR.
Tax cert
Broker annual certificazione fiscale.
Wire EUR
To NRE; retain SWIFT.
Close conto
Written request; zero balance confirm.
Wind-down flow
Italy broker export kit
- Certificazione fiscale.
- Contract notes.
- Closure PDF.
- SWIFT receipt.
- 730/Redditi copy.
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Partita IVA traders
If you traded as P.IVA, brokerage is separate from VAT activity wind-down.
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Keep Fineco from India?
Possible but annual Schedule FA — most returnees close.
Form 67?
If same gain taxed in both countries same FY.
US ETFs in Italy?
PFIC risk for US persons — separate from CGT.
FBAR?
Italian brokerage cash counts if USD 10k+ aggregate.
Savings plan (PAC)?
Cancel auto-invest before sell-down.
Assicurazione vita?
Life policy wrapper — not conto titoli.
Your tax year is already running.
RNOR status, exit timing, and DTAA benefits all depend on decisions you make before you land. Don't guess.