Selling Australian Shares held Overseas
We regularly receive inueries from oversease about how to sell Australian shares, both from expatriate Australian and individual foreign investors who have often inherited the shares or received them as part of their remuneration in the past. This is particularly so in respect of the UK where many Australian shareholdings exist for historical reasons - and more latterly because of the demutualisation of a number of larger companies (eg. AMP and Colonial) in the past. Often the amounts involved are relatively small and this complicates matters because there isn’t really, to our knowledge, a cost and time effective way of selling small Australian share volumes in the UK, or elsewhere overseas.
We are able to arrange the sale of shares which are listed on the Australian Stock Exchange (ASX) through licensed Australian sharebrokers but there will be some additional charges (bank and administrative) should you wish the proceeds remitted directly to an overseas, rather than Australian, bank account - and particularly if the shares form part of an estate as there is additional paper work required. Should you wish us to assist in that regard it would be helpful if you could provide details of the shareholding - the company and number of shares - in your inquiry.