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

  • NASDAQ is an exchange and OTCs aren't traded on exchnages. Are you sure you saw an OTC being traded on NASDAQ. I might need to some evidence. Is it mandatory to fill W8 Ben form for Indians, all foreigners trading on US exchanges have to file.
    – DumbCoder
    Aug 28 '14 at 10:23
  • Thanks for your reply. I went on Nasdaq.com and entered its Symbol to check out. I even checked out its monthly chart and today's price. So how do I buy them now and what is the limit to invest for an Indian?
    – Bharat
    Aug 29 '14 at 9:00

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.

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