A user has asked: I am an Australian resident trying to sell Irish shares, any advice on a stockbroker that will do this? Thank you
Our Answer:
You could approach any of the large Australian stockbrokers and the ASX, the Australian Stock Exchange, has a list of stockbrokers on its website. Some may offer facilities to trade international shares.
However, you could also consider reaching out to Irish stockbrokers who of course have the expertise in dealing with and in Irish listed stocks and shares. Two prominent Irish brokers are J&E Davy and Goodbody both have offices in Dublin and London.
I suspect that rather than your Australian residency being the issue what will be most important is how and where these Irish securities, that you wish to sell, are formatted and held? If as I suspect they are in a physical or certificated form, then it’s quite likely that you will need to have them dematerialised that is re-registered into an electronic format before they can be sold.
That is something you will need to discuss with your broker. You may also need to consider the conversion of the sale proceeds from either Euros or Sterling into Australian dollars through a currency broker if you are going to be repatriating the funds back to Australia. Once again, this something to discuss with your broker.
Bear in mind that there will be costs or charges associated with all these items, that won’t be so much of an issue if we are talking about reasonably sized holdings, but it could be a consideration if ware talking about more modest numbers.
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