Modern trading in securities (stocks and bonds) is carried out mainly electronically and in non-documentary form. In other words, when you make a deal, you do not get your hands on beautifully designed stock / bond forms. Instead, the registrar (the company that officially keeps records of the issuer's shares) or the depository (the organization that provides services for the storage of securities certificates and / or the accounting and transfer of ownership of them) makes a corresponding record of the owner in the accounting register. But what if, for example, you inherited shares in physical form, and you want to sell them?
Instructions
Step 1
First, it is necessary to convert the shares into electronic format, i.e. register your ownership. Information about you is entered into the register of shareholders, and an account is opened in your name with a depository or with a registrar, where the shares (information about them) will be stored. In this case, the blank papers are withdrawn from the owner in exchange for an extract from the register.
Step 2
Further, to sell shares, you can contact a licensed broker who will open a trading account for you and transfer securities to it. He will then place an exchange order on your behalf to sell them at a specified value. When a buyer is found for your securities, the sale and purchase transaction will be carried out, and the money will be credited to the account. Shares can be sold through a broker without opening an account, but they will be sold at a much lower price than the market price.
Step 3
An alternative option is a stock store (point of sale of shares to individuals). Its advantage over a broker is that you can make a deal on the spot if the offered price for your securities suits you. To do this, you need to conclude a sale and purchase agreement with a stock store, re-register shares in the name of the buyer, draw up a written application for their write-off under the agreement and receive payment in cash or by transfer to your bank account. After the sale of the securities, you will have to pay income tax of 13% based on the tax return for the relevant reporting period. This method is especially effective when selling low-liquid securities.
