Is it legal to transfer funds from my ESOP/RSU account?
In 2022, the Ministry of Finance published updated Overseas Investment regulations. Under these regulations, it was clarified that any shares acquired or received under Employee Benefits Schemes (includes ESOPs/RSUs) are considered as Overseas Portfolio Investments as long as these shares are less than 10% of the total equity of the company (which they are 99% of the time).
Further, as per the RBI’s Liberalized Remittance Scheme regulations, Overseas Portfolio Investments can be re-invested in any other publicly-listed companies within a period of 180 days from its sale.
In conclusion - An Indian resident with overseas ESOPs/RSUs in publicly listed companies can re-invest the funds from its sale in other listed stocks as long as they are reinvested within 180 days of the sale.
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Yes, you can transfer funds from your ESOP/RSU account to Vested. Here’s how: Complete your KYC to open a Vested US brokerage account. In the Vested app, go to 'Transfer,' click 'Add funds,' and select 'ESOP/RSU' account. Find your broker (e.g., ...
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Under the purpose code S0001, the transfer procedure for NRE and NRO bank accounts is offline. To transfer funds from your NRE bank account, kindly visit your bank's nearest branch to submit the A2 and declaration forms. To transfer funds from your ...
Can I not transfer funds from my exisiting bank account?
Yes, you can transfer funds from your existing bank account. Vested supports fund transfers from various Indian banks, including ICICI, HDFC, IDFC, Kotak, Axis, SBI, IndusInd Bank etc. You are not required to open a new account with Axis Bank; you ...
How do I transfer funds from an Indian Bank account to my US Brokerage Account?
Log in to your Vested account and follow these steps: Click on the "Transfer" tab. Select "Add Funds." Choose the Indian Bank option. Select from the list of supported banks such as ICICI, HDFC, IDFC, Kotak, Axis, SBI, and IndusInd Bank, as they ...
How do I transfer funds or securities from one Vested account to another Vested account?
You can transfer securities or funds from one Vested account to another Vested account only if you're the primary account holder for both these accounts. Please note that third-party transfers are not allowed on our platform. An internal transfer ...