The 60-second version
Philippines brokerage exit needs sell PSE holdings, tax summary, depot termination letter, and PHP SWIFT to NRE before India tax residency.
Sell PSE holdings before losing local bank auth — CG may apply on non-resident exit
BDO Securities and COL Financial provide PSE custody — obtain annual tax statement before depot termination.
Plan sell orders 45+ days ahead — PHP-denominated funds need settlement before wire.
Tax lane: Philippines tax guide for payroll and residency exit.
Philippines depot wind-down
| Broker | Tax doc | Step |
|---|---|---|
| Depot | CG stmt | Sell + close |
| PSE | Local stocks | Plan liquidity |
| Funds | PHP NAV | Redeem |
| NRE | INR/PHP | SWIFT receipt |
Closure
Sell
Liquidate PSE holdings.
Tax
CG if required.
Close depot
Termination letter.
Wire PHP
SWIFT to NRE.
Schedule FA
Last FY foreign asset.
Flow
Philippines brokerage kit
- Trade confirms.
- Tax summary.
- Closure letter.
- SWIFT.
- Passport copy.
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Liquidity
Place sell orders early — PSE turnover varies by counter.
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Search community threads for the exact phrase, then treat repeated complaints as risk signals rather than official advice.
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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.
DTAA?
Model CG in India ITR with Form 67 foreign tax credit.
Linked bank?
Close PHP account only after depot zero.
CDP parallel?
Singapore brokerage guide if you also held CDP account.
Trust depot?
Trustee must sign if legal owner is trust.
Your NRE account redesignation has a deadline.
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