My company allows us employees to buy ESOP shares via internal portals. However, on resignation from my company, I am expected to either sell or transfer my shares to a private brokerage account within a few months from my last date at the company. If I do not do anything, the shares will be automatically sold after a particular time period and the account will be closed.
At the moment, I do not want to sell these shares as I want to keep them as an investment. Therefore, I have to somehow transfer them to a private brokerage account. I do not have any currently. These shares are (I think) traded on the XETRA stock exchange. Do any of you know what I can do to transfer my shares?
I am guessing that I need to open a foreign brokerage account based in Germany since the shares are from there. If any of you have any recommendations for firms, please let me know.
I just want to keep these shares in my name for now, and not be forced to sell it. I am not interested in trading it that much. I just want to tranfer it to a personal account so that I can sell it at a much later time.
You are right, open any German broking account and they should help you with all the process.
You can google to find out some brokerages in Germany and contact any one after that.
I had a quick look, but it was difficult to understand since most of them default to German language. And I think some of them would ask for proof of German residency which I would not be able to do so. I haven’t checked that thoroughly to be honest.
I was wondering if there is any international broker that I can rely on. Wouldn’t that be a better approach since I might be able to manage my account easier than in the case of German brokerages?
I am trying to find the least risky solution for this problem. Right now I am checking out Interactive Brokers. Ultimately I just need an account that can trade in XETRA exchange and that can be easily managed from here in India.
Hi Navin,
I am in the same state as you are in and in fact i tried interactive brokers. However for them to enable trading in European market they are expecting a huge deposit in USD. Were you able to resolve this issue? If so can you please advise how did u transfer your shares? I need to do exactly the same even in my case. Appreciate your inputs.
Were you able to find any solution for the same, as need to do the same activity for my XETRA stocks. Also you did mention about Interactive Brokers and their terms of huge deposit, May i know how did you get this info, As I have been searching for possible solutions and ended up calling IBs customer care about transferring shares from XETRA(ex. ABC comp share) to IB however they did not mention anything about upper and lower limit even though i asked.
I am assuming there would not be any however could you please share your inputs as well.