The 60-second version
Pakistan brokerage exit needs sell PSX holdings, CDC statement, depot termination letter, and PKR SWIFT to NRE before India tax residency.
PSX settlement is T+2 — sell KSE-100 liquid names before CDC account freeze on visa lapse
AKD Securities, JS Global, and Arif Habib serve PSX custody via CDC — obtain capital gains statement before depot closure.
Pakistan CG on listed equity may apply — model India ITR liability once ROR with cost basis from trade confirms.
Bank lane: Pakistan bank guide after depot zero.
PSX depot wind-down
| Broker | Tax doc | Step |
|---|---|---|
| CDC member | CG stmt | Sell + close |
| PSX | Listed stocks | Plan liquidity |
| Linked bank | PKR | Wire after depot |
| NRE | INR/PKR | SWIFT receipt |
Closure
Sell PSX
Liquidate holdings.
CG stmt
Obtain tax summary.
PKR wire
SWIFT to NRE.
Close depot
CDC termination.
Schedule FA
Last FY foreign asset.
Flow
Pakistan brokerage kit
- Trade confirms.
- CG summary.
- Closure letter.
- SWIFT.
- CNIC/passport copy.
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CDC account
Central Depository Company must show zero units before broker issues depot termination letter.
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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.
Bank link?
Close PKR bank only after depot zero.
India CG?
ROR status taxes global capital gains — keep PSX trade confirms.
Bangladesh parallel?
Bangladesh brokerage guide if you held DSE account.
Work permit?
Wire before visa cancel if branch requires active permit.
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.