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Selling Australian Shares Held by an Overseas Resident

A common situation we see at Sell My Shares is when a non-Australian resident still owns Australian listed shares, but faces difficulty in selling them due to their new residential status. Between communicating through different time zones, overcoming identity verification obstacles and trying to obtain the required information, these share sales can often be a burdensome task to accomplish.

As specialists in one off share sales, we’re committed to helping both Australians and overseas residents sell their Australian listed shares, no matter how complex the situation.

Sell Australian Shares from Overseas
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How to Sell ASX Shares Held by an Overseas Resident

For overseas residents we require certified proof of current address, so we would need a:

  • Certified copy of the shareholder’s driver’s licence and a certified copy of the shareholder’s passport; OR
  • Certified copy of the shareholder’s passport and a document proving their current residential address (bank extract, utility bill, rates notice, rental agreement etc.)

Please note for overseas residents we will only accept documents if they have been certified by one of the following individuals:

  • An Australian Consular Officer or an Australian Diplomatic Officer; or
  • A Notary Public; or
  • A Commissioner of Oaths
These certified copies can then be emailed through to us at shares@sellmyshares.com.au.
 
Aside from the extra identification steps above, the usual share sale process applies.

How Long Does it Take to Sell Australian Shares Held by an Overseas Resident?

As the leading one off share specialist in Australia, you won’t find a mob who can sell your shares faster! For Express share sales, we will sell your shares on the same day you complete the online share sale form (provided you complete the online ID check before 3pm AEST). For all other sales, we will usually have your shares sold for you within 1-2 business days.

Funds from your share sale are transferred to your bank account 3 business days after the shares are sold. For example, if you sold your shares on Monday, your share sale funds will be transferred to your bank account on Thursday.

 If you wish to have your share sale funds transferred to a non-Australian bank account, you will need to complete and return our International Banking Form.

 

How Much Does it Cost to Sell Australian Shares Held by an Overseas Resident?

Overseas residents can choose from either of the following share sale services:

  • Value Service: 1.1% brokerage fee ($121 minimum)
  • Express Service: 1.5% brokerage fee ($165 minimum)

Due to the additional labor and administrative costs involved, an incremental surcharge applies for the sale of shares held by overseas residents.  The surcharge amount is $55, or 0.55% of the transaction size, whichever is greater.  Please note that this surcharge is in addition to any other surcharge or brokerage fees that might be relevant.

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Sell My Shares was founded in 2013 by 2 stockbrokers who noticed that people who just wanted to sell their shares with minimum fuss had few options outside of opening a fully fledged stockbroking account.

We decided to love this type of business, and these clients, and that’s what we do – very well.

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Copyright © 2021 Sell My Shares Pty Ltd. All rights reserved. This site has been prepared by Sell My Shares Pty Ltd (ABN 81 653 391 943) an Authorised Representative (number 001293396) of Barclay Wells Limited (ABN 88 009 352 836) which holds AFS Licence 235 070. Sell My Shares acts as an agent of Barclay Wells Ltd.