The 60-second version
Portuguese brokerage wind-down needs Degiro PT / XTB PT liquidation, IRS Modelo 3 gains, broker closure letter, and EUR remittance to NRE with certificates for Form 67.
NHR exit year affects how gains are taxed in Portugal
Portugal taxes securities gains via IRS — selling after becoming India tax resident still triggers Portuguese reporting on PT assets in departure year.
Degiro PT / XTB / ActivTrades closes after zero balance and non-resident tax status update.
If you had NHR, confirm final-year Portuguese filing with local accountant before broker closure.
Iberia: Spain brokerage guide.
Portuguese account wind-down
| Account | PT tax | India reporting |
|---|---|---|
| Degiro PT equities | IRS gains | Schedule FA + DTAA |
| PT ETFs | Withholding + gains | CG in India on sale year |
| US stocks via PT broker | IRS + US rules | Schedule FA both sides |
| PPR wrapper | Separate pension | Not brokerage — specialist exit |
| EUR cash | No CG | Wire to NRE |
Portuguese brokerage close sequence
NHR check
Confirm final PT tax year treatment with accountant.
Sell holdings
Liquidate portfolio to EUR cash.
Tax statement
IRS annual statement / broker report.
Wire EUR
To NRE; retain SWIFT + FEMA trail.
Close account
Written request; keep closure PDF.
Wind-down flow
Portugal broker export kit
- IRS statement.
- Contract notes.
- Closure email.
- SWIFT receipt.
- NHR exit letter if applicable.
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PPR account
Pension wrapper is not brokerage — do not mix closure steps.
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0 of 4 checked
Keep PT broker as India resident?
Possible but Schedule FA every year — most close.
Form 67 for IRS?
Yes if same income taxed in India same FY.
NHR after leaving?
Status ends when non-resident — final-year filing still required.
US ETFs in Degiro?
PFIC risk for US persons — keep broker statements.
US person FBAR?
Portuguese accounts count toward USD 10k aggregate.
Crypto on PT exchange?
Separate IRS crypto rules — not standard brokerage closure.
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.