Close UK / EU Brokerage After Moving to India
Wind down HL, IBKR EU, or Degiro: CGT reporting, ISA handling, W-8BEN expiry, and Schedule FA in India.
The 60-second version
US brokerage is not the only foreign account — UK/EU brokers freeze accounts on India address change. Sell, transfer, or close before year-end tax confusion.
Address change triggers review
UK brokers often restrict ISA subscriptions and trading when you become India-resident. Some close accounts entirely.
Selling before April 6 UK tax year can simplify UK CGT — India tax follows your residency status on sale date.
EU brokers (DEGIRO Netherlands) have similar non-resident rules — read T&C before India landing.
US parallel: US brokerage guide.
Broker actions by platform
| Platform | India address | Typical action |
|---|---|---|
| HL Stocks & Shares ISA | Non-UK resident | No new subs; hold or transfer |
| IBKR UK | India resident | Limited products — re-entity possible |
| DEGIRO | Non-EU/EEA | Account restriction or close |
| Trading 212 | Varies | May close UK account |
| Indian broker | Resident | PIS surrendered — fresh demat |
Wind-down sequence
Export cost basis
CSV trade history before close.
Model UK CGT
Annual exempt amount if UK resident part-year.
Sell or transfer
Transfer to US IBKR if consolidating.
Withdraw cash to bank
Wire to India with FIRC.
Disclose Schedule FA
Until account fully closed.
Broker exit
Broker close kit
- Trade history CSV.
- CGT computation.
- Wire confirmation.
- Account closure email.
- Schedule FA updated.
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Sell ISA before ignoring it
Idle ISA while India-resident still needs Schedule FA disclosure.
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Turn this guide into a decision file
0 of 4 checked
Keep ISA without subscribing?
Often allowed — India FA still required.
UK CGT after leaving?
UK-source gains may still be UK taxable in departure year.
Transfer ISA to HL cash?
Cannot cash ISA without sale inside wrapper.
DEGIRO to IBKR?
ACATS-style not available — sell and rebuy.
PFIC risk EU funds?
US persons face PFIC on EU UCITS — separate US tax issue.
Form 67 UK tax?
If claiming UK CGT paid against India tax.
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.