What happens to my ISA after I move to India?

🤝 Help
1

I recently moved from UK to India and currently have an ISA account with T212. I understand that I am permitted to add money and make trades for the current financial year (uptil the annual limit). Although, I have two queries:

  1. Could I still trade with the existing corpus after the current Financial year? Would that still be tax-free when I withdraw?

  2. Can I directly withdraw to my Indian bank account or would I need a UK bank account (which can be difficult)?

  3. Recently the app version changed on iOS (compulsory update). However, I cannot update as the T212 app is not available in India. What option(s) do I have to be able to access my account / portfolio?

Thanks in advance :slight_smile:

2

Looks like you can keep the account, although need to inform T212 on your status change
Still tax free, no additional cash can be added, but should be able to keep selling/purchasing within existing funds
No reason why T212 should stop withdrawals to India from ISA

1 Like
3

you can trade within your existing ISA but you have to inform T212 that you are no longer resident in UK, and you can no longer deposit into your ISA.

you can only withdraw to the account(s) that deposited into your ISA (regardless of the account being in India or not)

vpn? :slight_smile:

4

If you still need a UK bank account and don’t have one from your time in the UK, you can try HSBC UK which allows you to apply for an account from India.