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I am a citizen of India. I would like to buy some OTC stock which is listed in Nasdaq.
What is the procedure? Do I have to find a US broker?
Is it mandatory to fill W8 Ben form for Indians?
Do I have to pay tax in US and India as well?
If I buy a OTC share certificate from a person, and when it gets listed in Nasdaq, will I be able to sell them from India?
Thanking you in advance for taking time to answer these queries.
Regards Bharat
According to this page on their website (http://www.kotaksecurities.com/internationaleq/homepage.htm), Kotak Securities is one big-name Indian broker that offers an international equities account to its Indian customers.
Presumably, they should be able to answer all your questions.
Since this is a competitive market, one can assume that others like ICICI Direct must also be doing so.
Is it mandatory to fill W8 Ben form for Indians, all foreigners trading on US exchanges have to file.