Is it possible for someone with no UK address to sell UK shares?

[Ombra]

When my mother died twenty years ago, I inherited a few hundred shares each in Tesco and Aviva and forgot about them for long periods of time. They are now worth about 5,000 pounds together, but I can no longer use the services of Equiniti to sell them as I now have no UK address. I have spent all of my adult life abroad and the friends I have are not in the UK and the few relatives I had have either passed away or, like me, moved away. Hence, there is no-one I can ask to act on my behalf in the UK. Is there any way in which I can sell these shares? I would appreciate any advice.

[anchadian]

For many years I was the holder of Whitbread shares although I had lost the share certificate.

 

As I wanted to dispose of the shares, I contacted the registrars 'Capita' for a duplicate certificate by completing a Letter of Indemnity which I returned to them.

 

I arranged at that time for Capita to forward the duplicate certificate to my share broker SVS Securities in London.  The proceeds were transferred  to my Thai bank account.

Unless anything has changed, (the above was actioned about 5 yrs ago), I would yes you can sell your shares through a share broker but it's now finding one that accepts a Thai address as I believe SVS Securities are no more.

 

You could try TD Direct Investing International based in Luxemburg.

 

I registered with TD with a Thai address as a back-up but didn't use them.

Their Email to me:

 

We have received your certificate transfer form, however we have not received the original certificates yet.   Please can you send them in so we can complete the transfer for you.   Please do not hesitate to contact us in case you have any questions.     Kind regards,     Tjitske Snelting TD Direct Investing International   Hope this helps.
TD Direct Investing International 46a, avenue J.F. Kennedy L-2958 Luxembourg	Trading Desk:           +352-2603 2626 Customer Service      +352-2603 2003	http://www.tddirectinvesting.lu

 

 

Edited April 4, 2021 by anchadian

[Oxx]

Are these paper certificates, or electronically registered?

 

Incidentally, the registrar for Aviva is Computershare, not Equiniti.

[Oxx]

11 hours ago, anchadian said:

You could try TD Direct Investing International based in Luxemburg.

 

They've changed name a couple of times since then.  They reverted to using Internaxx, but now are Swissquote after being acquired.

 

https://en.swissquote.lu/

[Ombra]

1 hour ago, Oxx said:

Are these paper certificates, or electronically registered?

 

Incidentally, the registrar for Aviva is Computershare, not Equiniti.

They are paper shares and I mentioned Equiniti without checking, but both companies no longer deal with those who have no UK address.

[Ombra]

13 hours ago, anchadian said:

For many years I was the holder of Whitbread shares although I had lost the share certificate.

 

As I wanted to dispose of the shares, I contacted the registrars 'Capita' for a duplicate certificate by completing a Letter of Indemnity which I returned to them.

 

I arranged at that time for Capita to forward the duplicate certificate to my share broker SVS Securities in London.  The proceeds were transferred  to my Thai bank account.

Unless anything has changed, (the above was actioned about 5 yrs ago), I would yes you can sell your shares through a share broker but it's now finding one that accepts a Thai address as I believe SVS Securities are no more.

 

You could try TD Direct Investing International based in Luxemburg.

 

I registered with TD with a Thai address as a back-up but didn't use them.

Their Email to me:

 

We have received your certificate transfer form, however we have not received the original certificates yet.   Please can you send them in so we can complete the transfer for you.   Please do not hesitate to contact us in case you have any questions.     Kind regards,     Tjitske Snelting TD Direct Investing International   Hope this helps.
TD Direct Investing International 46a, avenue J.F. Kennedy L-2958 Luxembourg	Trading Desk:           +352-2603 2626 Customer Service      +352-2603 2003	http://www.tddirectinvesting.lu

 

 

It was extremely kind of you to go to the trouble of providing such a clear and helpful answer. I shall try my luck with TD Direct Investing. Thank you very much indeed.

[Ombra]

6 hours ago, Oxx said:

 

They've changed name a couple of times since then.  They reverted to using Internaxx, but now are Swissquote after being acquired.

 

https://en.swissquote.lu/

Thank you very much. I tried and failed to contact TD Direct Investing.

[RayC]

Are the certificates in your name or your late mother's? If the latter then in any event, you will firstly need to get them changed to your name. The registrar will be able to advise on the process.

 

Selling your shares in your position is a messy - and may be a time consuming - process but it should be possible.

 

The attached links might help. 

 

https://the-international-investor.com/sell-foreign-stocks

 

https://the-international-investor.com/2011/uk-stock-broker-accounts-nonresidents

 

If the advice in the links fails, then the only other work-around I can suggest is as follows (I assume that you have a UK bank account and internet banking access):

 

Use a friend's/relative's address in the UK and   change your address online to theirs. Next phone your bank and ask them if they can sell your shares as a 'one off' transaction. If they can all should be well and good. If not, apply for the bank's stockbroking account. Once it is set-up, you will be able to buy and sell shares (you may need to convert the paper shares into CREST.  The bank will tell how to do this). If you don't plan to use the stockbroking account again in the future, I'd suggest closing it after you have transferred funds to your current account.

 

Good luck.

[Oxx]

52 minutes ago, RayC said:

The attached links might help.

 

That information is hopelessly out of date.

 

It's now nigh on impossible for a non-resident to open a UK brokerage account.

 

The OP will need to go down the offshore broker route, and find such a broker who is willing to deal with share certificates.

 

I have no idea which offshore brokers will deal with share certificates, but since @anchadian said he had a positive experience with TD Direct Investing International, Swissquote is where I'd start, asking them whether they will accept share certificates.  (These will then almost certainly need to be converted into the electronic version before being sold, which could take several weeks.)  After that, I'd try Saxo (Singapore), then International Brokers (USA).  No guarantees, however, that any of them will accept share certificates.

 

I am curious, however, that the OP said that Equiniti won't open an account for him.  That translates, to me as, it wouldn't open a brokerage account for him, which is, of course, correct.  However, as the company registrar they could convert the physical share certificate into an electronic version, even though he's non-resident.  (Computershare, ditto.)  Whilst that won't help him actually sell the shares, it does get over one hurdle towards that goal.

[Ombra]

2 hours ago, RayC said:

Are the certificates in your name or your late mother's? If the latter then in any event, you will firstly need to get them changed to your name. The registrar will be able to advise on the process.

 

Selling your shares in your position is a messy - and may be a time consuming - process but it should be possible.

 

The attached links might help. 

 

https://the-international-investor.com/sell-foreign-stocks

 

https://the-international-investor.com/2011/uk-stock-broker-accounts-nonresidents

 

If the advice in the links fails, then the only other work-around I can suggest is as follows (I assume that you have a UK bank account and internet banking access):

 

Use a friend's/relative's address in the UK and   change your address online to theirs. Next phone your bank and ask them if they can sell your shares as a 'one off' transaction. If they can all should be well and good. If not, apply for the bank's stockbroking account. Once it is set-up, you will be able to buy and sell shares (you may need to convert the paper shares into CREST.  The bank will tell how to do this). If you don't plan to use the stockbroking account again in the future, I'd suggest closing it after you have transferred funds to your current account.

 

Good luck.

The shares are in my name, but I left the UK when Harold Wilson was prime minister and there is no-one there who can help me now.

 

However, my account with LLoyds Bank is on-line and I shall contact the bank and ask about this. With luck, I might find someone who welcomes a challenge.

 

I am very grateful for this advice.

[Ombra]

1 hour ago, Oxx said:

 

That information is hopelessly out of date.

 

It's now nigh on impossible for a non-resident to open a UK brokerage account.

 

The OP will need to go down the offshore broker route, and find such a broker who is willing to deal with share certificates.

 

I have no idea which offshore brokers will deal with share certificates, but since @anchadian said he had a positive experience with TD Direct Investing International, Swissquote is where I'd start, asking them whether they will accept share certificates.  (These will then almost certainly need to be converted into the electronic version before being sold, which could take several weeks.)  After that, I'd try Saxo (Singapore), then International Brokers (USA).  No guarantees, however, that any of them will accept share certificates.

 

I am curious, however, that the OP said that Equiniti won't open an account for him.  That translates, to me as, it wouldn't open a brokerage account for him, which is, of course, correct.  However, as the company registrar they could convert the physical share certificate into an electronic version, even though he's non-resident.  (Computershare, ditto.)  Whilst that won't help him actually sell the shares, it does get over one hurdle towards that goal.

 

1 hour ago, Oxx said:

 

That information is hopelessly out of date.

 

It's now nigh on impossible for a non-resident to open a UK brokerage account.

 

The OP will need to go down the offshore broker route, and find such a broker who is willing to deal with share certificates.

 

I have no idea which offshore brokers will deal with share certificates, but since @anchadian said he had a positive experience with TD Direct Investing International, Swissquote is where I'd start, asking them whether they will accept share certificates.  (These will then almost certainly need to be converted into the electronic version before being sold, which could take several weeks.)  After that, I'd try Saxo (Singapore), then International Brokers (USA).  No guarantees, however, that any of them will accept share certificates.

 

I am curious, however, that the OP said that Equiniti won't open an account for him.  That translates, to me as, it wouldn't open a brokerage account for him, which is, of course, correct.  However, as the company registrar they could convert the physical share certificate into an electronic version, even though he's non-resident.  (Computershare, ditto.)  Whilst that won't help him actually sell the shares, it does get over one hurdle towards that goal.

I don't think I said that Equiniti won't open an account for me, but rather that the rules oblige them to exclude me. A person without a UK address is not eligible to use their services. Thank you, though, for suggesting that I get an electronic copy of the share certificate. I will certainly try that.

[RayC]

2 hours ago, Oxx said:

 

That information is hopelessly out of date.

 

It's now nigh on impossible for a non-resident to open a UK brokerage account.

 

The OP will need to go down the offshore broker route, and find such a broker who is willing to deal with share certificates.

 

I have no idea which offshore brokers will deal with share certificates, but since @anchadian said he had a positive experience with TD Direct Investing International, Swissquote is where I'd start, asking them whether they will accept share certificates.  (These will then almost certainly need to be converted into the electronic version before being sold, which could take several weeks.)  After that, I'd try Saxo (Singapore), then International Brokers (USA).  No guarantees, however, that any of them will accept share certificates.

 

I am curious, however, that the OP said that Equiniti won't open an account for him.  That translates, to me as, it wouldn't open a brokerage account for him, which is, of course, correct.  However, as the company registrar they could convert the physical share certificate into an electronic version, even though he's non-resident.  (Computershare, ditto.)  Whilst that won't help him actually sell the shares, it does get over one hurdle towards that goal.

 

42 minutes ago, Ombra said:

The shares are in my name, but I left the UK when Harold Wilson was prime minister and there is no-one there who can help me now.

 

However, my account with LLoyds Bank is on-line and I shall contact the bank and ask about this. With luck, I might find someone who welcomes a challenge.

 

I am very grateful for this advice.

 

Given that you have a current account with Lloyds, they might be willing to open a share dealing account for you.  Unlikely, but might be worth asking.

 

The link below came up in a Google search. As you have a UK bank account they might be willing to help? Again, probably worth a call.

 

http://www.sellmysharecertificates.com/?gclid=CjwKCAjw6qqDBhB-EiwACBs6xxWX2-w6_f7XRgNzl0lM2SiacLM3iWzK4Hx9zAdpXN_tikbaZEYFXxoC6fAQAvD_BwE

Tel: 01892 700800

 

I didn't notice the date of the articles in the links, so yes much of the information is out-of-date.

 

Nevertheless, there is more recent info - albeit 4 years old - in the comments which might still be relevant. Two of the possibilities: 1) https://www.degiro.co.uk/ 2) Beaufort Securities +44 207 382 8306. 

 

Disclaimer: I have no knowledge of these three companies. Caveat emptor.

 

 

[Oxx]

1 hour ago, RayC said:

Beaufort Securities

 

I really do think that if you don't have a clue what you're posting about that you don't bother.

 

"On March 2, 2018, the Securities and Exchange Commission announced securities fraud charges against Beaufort Securities"

 

The company is now in administration.

[RayC]

1 hour ago, Oxx said:

 

I really do think that if you don't have a clue what you're posting about that you don't bother.

 

"On March 2, 2018, the Securities and Exchange Commission announced securities fraud charges against Beaufort Securities"

 

The company is now in administration.

 

1 hour ago, Oxx said:

 

I really do think that if you don't have a clue what you're posting about that you don't bother.

 

"On March 2, 2018, the Securities and Exchange Commission announced securities fraud charges against Beaufort Securities"

 

The company is now in administration.

 

Hence the disclaimer: "I have no knowledge of these three companies. Caveat emptor." Is that so difficult to understand?

 

It's obvious that the simplest solution to the problem is find a UK address. However, given that is not possible, then I would suggest that it's worth throwing out possible  options (with a caveat). The OP seems grateful for suggestions; I'd imagine that he'd be even more grateful if you can come up a 100% sure fire solution.

[sandyf]

On 4/5/2021 at 8:48 AM, Ombra said:

They are paper shares and I mentioned Equiniti without checking, but both companies no longer deal with those who have no UK address.

You could look at an online postal service. I have used UK Postbox for about 8 years and found the service very good. They offer what they call "Street" address, mainly in London or their address in Poole.

I have a street address and use that on my bank account. I think it can be done on a monthly basis  so could be tried out for little outlay.

I am registered  with UK Postbox with Thai address and as overseas  customer do not pay the VAT.

Edited April 6, 2021 by sandyf

[ETHMi]

If you can find someone you trust who has a UK address, you could transfer the shares to them as a gift, using a form from the company registrar.  They could then sell the shares and send you the proceeds.  They might have to be aware of capital gains tax implications though. 

[Ombra]

On 4/5/2021 at 7:32 PM, RayC said:

 

 

Given that you have a current account with Lloyds, they might be willing to open a share dealing account for you.  Unlikely, but might be worth asking.

 

The link below came up in a Google search. As you have a UK bank account they might be willing to help? Again, probably worth a call.

 

http://www.sellmysharecertificates.com/?gclid=CjwKCAjw6qqDBhB-EiwACBs6xxWX2-w6_f7XRgNzl0lM2SiacLM3iWzK4Hx9zAdpXN_tikbaZEYFXxoC6fAQAvD_BwE

Tel: 01892 700800

 

I didn't notice the date of the articles in the links, so yes much of the information is out-of-date.

 

Nevertheless, there is more recent info - albeit 4 years old - in the comments which might still be relevant. Two of the possibilities: 1) https://www.degiro.co.uk/ 2) Beaufort Securities +44 207 382 8306. 

 

Disclaimer: I have no knowledge of these three companies. Caveat emptor.

 

 

Thank you again. I now have far more options than I hoped for.

[Ombra]

On 4/6/2021 at 10:04 AM, sandyf said:

You could look at an online postal service. I have used UK Postbox for about 8 years and found the service very good. They offer what they call "Street" address, mainly in London or their address in Poole.

I have a street address and use that on my bank account. I think it can be done on a monthly basis  so could be tried out for little outlay.

I am registered  with UK Postbox with Thai address and as overseas  customer do not pay the VAT.

That is an extraordinary solution. I have never heard of UK Postbox, but I have just found online reviews of the service and I shall read through them. This might be just what I need. Thank you very much indeed.

[Oxx]

It occurs to me that there are two steps to this problem:  (1) ownership of the shares, and (2) selling them.

 

Physical possession of a share certificate doesn't grant ownership.  Ownership is dependent upon whose name is in the share register managed by Equiniti/Computershare in this case.  Whilst Equiniti/Computershare won't open a brokerage account for you to sell the shares (you're not UK-resident), they must change the legal ownership in the shareholder register if you present them with the appropriate documentation (probably something like proof of probate, perhaps a copy of the will).  This would need to be the first step before you can sell them.

 

Attempting to use an offshore broker to handle this first step is probably fraught with difficulty since they're not going to be familiar with English law of inheritance and the documents to establish legal ownership in such cases.

 

I suggest you go back to the registrars and attempt to get the shares registered in your own name, and registered electronically so there's no longer a need to deal with share certificates which have long gone the way of the dinosaurs.

 

 

[Ombra]

On 4/5/2021 at 7:32 PM, RayC said:

 

 

Given that you have a current account with Lloyds, they might be willing to open a share dealing account for you.  Unlikely, but might be worth asking.

 

The link below came up in a Google search. As you have a UK bank account they might be willing to help? Again, probably worth a call.

 

http://www.sellmysharecertificates.com/?gclid=CjwKCAjw6qqDBhB-EiwACBs6xxWX2-w6_f7XRgNzl0lM2SiacLM3iWzK4Hx9zAdpXN_tikbaZEYFXxoC6fAQAvD_BwE

Tel: 01892 700800

 

I didn't notice the date of the articles in the links, so yes much of the information is out-of-date.

 

Nevertheless, there is more recent info - albeit 4 years old - in the comments which might still be relevant. Two of the possibilities: 1) https://www.degiro.co.uk/ 2) Beaufort Securities +44 207 382 8306. 

 

Disclaimer: I have no knowledge of these three companies. Caveat emptor.

 

 

Sellmysharecertificates.com looks very promising and I will also look at degiro.co.uk. Thank you again.

[Ombra]

53 minutes ago, Oxx said:

It occurs to me that there are two steps to this problem:  (1) ownership of the shares, and (2) selling them.

 

Physical possession of a share certificate doesn't grant ownership.  Ownership is dependent upon whose name is in the share register managed by Equiniti/Computershare in this case.  Whilst Equiniti/Computershare won't open a brokerage account for you to sell the shares (you're not UK-resident), they must change the legal ownership in the shareholder register if you present them with the appropriate documentation (probably something like proof of probate, perhaps a copy of the will).  This would need to be the first step before you can sell them.

 

Attempting to use an offshore broker to handle this first step is probably fraught with difficulty since they're not going to be familiar with English law of inheritance and the documents to establish legal ownership in such cases.

 

I suggest you go back to the registrars and attempt to get the shares registered in your own name, and registered electronically so there's no longer a need to deal with share certificates which have long gone the way of the dinosaurs.

 

 

It is very kind of you to explain all of this, but it is quite daunting. However, I will start working through the various suggestions. Thank you very much.

[Ombra]

On 4/7/2021 at 1:04 AM, ETHMi said:

If you can find someone you trust who has a UK address, you could transfer the shares to them as a gift, using a form from the company registrar.  They could then sell the shares and send you the proceeds.  They might have to be aware of capital gains tax implications though. 

The idea of transferring the shares to someone as a gift makes me think that I might donate them to a charity because I haven't donated as much as I might have over the years. Thank you for this suggestion.