Celia74

I have inherited some shares from a relative in the UK and wish to sell. The shares are held in the UK and are in my name but I have them registered to my sister in laws address in the UK (the solicitors would not allow me to register them to my Australian address). We are temporary residents (ie on a 457 visa) and I still have a bank account in the UK. Can anyone suggest/recomment a broker?

Many thanks

Turban Explorer

I use Hargreaves Lansdowne. They're cheap and pretty good. http://www.hl.co.uk/

I think it's irrelevant where you live but I opened the account a while ago in the UK when I lived there.

RedDragon2008

Only relevance I can think of is from the share registry perspective of whether you are resident or non resident for dividend franking.

But would assume a world wide contact address is still valid?

Celia74

I have sent an email to the company suggested but it did ask for a UK address and state that they only dealt with UK residents. Im honestly not sure where I sit in that one, we are in Australia as temporary residents and are classed as residents for tax purposes only but as we do not have a property in the UK I presume that we are non-residents. In my late teens I lived in South Africa for over three years and when I returned to the UK to go to university I was told that I was classed as a non-resident as I had been out of the country for three years so had to live and work in the UK for a year to qualify for a student grant... this was the early 1990s so things may have changed. Anyone have any idea?

Turban Explorer

Just tick the box that you're UK residents and use a friend or family member's address. That's what I do. It's only money laundering laws they have to comply with.

Penny45

Is that enough though? When I opened an account with a brokers I had to provide proof of address - think a bank statement and utility bill.

Celia74

Ive just heard back and they tell me that I need to provide information of a UK address if I open an online account but if I open a paper account (??) then I need to provide proof of UK adress. Ive asked them to clarify.

Kiwipaul

If you have a UK bank account approach the bank itself and ask them to sell the shares for you.

Is it just shares in 1 company or many companies.

Contact an Oz share trader that sells overseas shares (etrade, comsec, etc ) and find out if they will handle the sale. You might need to get the shares registered to your Oz add for that you would need to contact the company itself or the UK share registery

Celia74

I bank with HSBC both here and in the UK and they will not trade on my behalf.

Its lots of different companies.

Ill try the companies you suggested,

Thanks

Fardell

Exfin (http://www.exfin.com) used to do this a couple of years ago - I think you will find that none of the online share businesses in Australia (Commshare etc.,) will do this - you actually need to talk to a "real person". Problem is I think that with some transactiona the UK registrars want to see/sight the paper share certificate!