Setting up broker account from overseas

[1983GJ]

I have issuer-sponsored ASX shares that at some point I will want to sell, so want to transfer them to a broker account.

I'm not an Australian resident and don't have an Australian bank account - I'd probably want the sale proceeds to go to an account in either the UK or Singapore. Setting up a broker account without an Australian bank account or proof of residency seems difficult so far. Just wondering if anyone here has had similar experiences or knowledge?

Thanks

 

[rcw1]

I have issuer-sponsored ASX shares that at some point I will want to sell, so want to transfer them to a broker account.

I'm not an Australian resident and don't have an Australian bank account - I'd probably want the sale proceeds to go to an account in either the UK or Singapore. Setting up a broker account without an Australian bank account or proof of residency seems difficult so far. Just wondering if anyone here has had similar experiences or knowledge?

Thanks

Good evening 1983GJ
Have a chat with a CommSec member about your dilemma and see whether they can help/

Can I open a CommSec account if I live overseas?​

Maybe. If you’re currently living overseas, you might be able to trade with us if you are CHESS sponsored with CommSec and you use an Australian bank account to settle your trades. However, restrictions may apply to applicants from certain jurisdictions, depending on legal and regulatory requirements. So in some cases, we may not be able to accept your application. If you’re not sure whether you can apply, please contact us to discuss your options.

General enquiries​

Call 13 15 19
Overseas? Call +61 2 9115 1417
Cantonese / Mandarin? Call 1300 880 888
8am to 6pm, Sydney time, Monday to Friday

Postal Address
Commonwealth Securities
Locked Bag 22
Australia Square NSW 1215

Hope this helps.

Kind regards
rcw1

 

[divs4ever]

i was thinking the original poster , MIGHT need a full service broker to arrange the sale , since they are already issuer-sponsored , the broker MIGHT be able to sell them without needing CHESS ( straight to another client , who may or may not be an Australian Resident )

would that be cost efficient is the BIG question