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Topic # 242398 26-Oct-2018 16:31
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anyone know the easiest way to sell some NZ shares?

 

I previously had a NZX trading account at ASB Securities but it lapsed or something, and they want me to visit a branch with ID to re-establish it, which makes it damn hard when I live overseas.

 

Ive literally got just a few grand of NZ Shares I need to jettison as its just not worth doing the tax paperwork blah blah for them

 

Alternatively, anyone know how I can gift these to a charity or something?


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  Reply # 2114536 26-Oct-2018 16:39
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If you're trying to sell on market, you will need to go via a broker. They are subject to AML restrictions and will need to verify your identity. You might be able to open a broker account via your bank? In addition to ASB,  ANZ has an online platform.

 

If you just want to get rid of listed securities, you can do an off market transfer by filling out a form. This is usually between family members. You'd need to contact a charity to see whether they'd take securities as a gift. See for eg. https://www.anzsecurities.co.nz/directtrade/static/downloadforms.aspx ("Registry Forms", right at the end).


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  Reply # 2114538 26-Oct-2018 16:41
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Do you know someone else who has a trading account because you can use Compushare or Market Link Services and transfer the shares to them .... 


 
 
 
 


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  Reply # 2114540 26-Oct-2018 16:42
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I can understand your situation with the tax etc when living overseas. I think you can gift them to a friend or family, without involving a registry. I am sure there would be plenty of people who would take them off your hands :) You could also contact a charity who may take them off your hands for you, but whether they want to deal with the paper work involved.

 

https://www.anzsecurities.co.nz/directtrade/static/offmarkettransfers.aspx 


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  Reply # 2114543 26-Oct-2018 16:43
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If you are wanting to transfer your shares without a broker, you will need to fill in an Off Market Transfer form from the appropriate share registry. For Computershare look for the transfer form https://www-au.computershare.com/Investor/help/printableforms?cc=NZ. For Link Market Services you want the Off Market Transfer form https://www.linkmarketservices.co.nz/InvestorServices/Forms.html . Of course, you need to find someone to transfer the shares to for this to help.

 

Computershare apparently allow you to sell direct through them, see here. So if all your shares are with them you can sell directly though the registry, with the appropriate fee of course.


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  Reply # 2114544 26-Oct-2018 16:45
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littlehead:

 

 

 

Computershare apparently allow you to sell direct through them, see here. So if all your shares are with them you can sell directly though the registry, with the appropriate fee of course.

 

 

 

 

Yep you can do once off sales.  More expensive than ASB/ANZ but yes.  


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  Reply # 2119334 4-Nov-2018 07:24
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Maybe just keep them. In 50 years they might be the NZ equivalent of Microsoft or Apple. Get dividends paid into your ASB account or better yet see if the company has a Dividend Reinvestment Plan. Then just set and forget. At best you'll be getting a 5 - 8% divi yield, which might already be  NZ tax paid (so you arent ripping off the NZ tax payer)  on a few grands worth of shares. I wouldn't even bother declaring it.


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  Reply # 2119338 4-Nov-2018 08:00
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Out of all the options above, it doesnt change the fact you need to run your ID past the bank.

 

Best you email them and work out a remote way of doing this. I would say they might accept a veryfied copy of passport etc. 

 

The whole thing of ID is because of the Anti Money Landering rules that came in a few years ago... 

 

 

 

good luck. 


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