# How do you sell UK share certificates when resident in Spain?



## rdh61 (Apr 7, 2014)

Hi,

I hope someone can help me with what I thought was a relatively straightforward matter (hollow laughter) which is driving me round the bend.

Namely, how do you sell UK share certificates when resident in Spain?

I have a paper certificate for shares in a public limited company listed on the London stock exchange. I want to sell some of the shares. Simple, no? NO!

The registrars for these shares in the UK cannot help me because I am not a UK resident and do not have a UK address. "Find a broker in Spain", they said.

I went to my bank in Spain (Sabadell), who offer a stock brokerage service, but had no idea what to do about it because (a) paper certificates are old fashioned and (b) they are for British companies.

I telephoned my bank in the UK (NatWest offshore in Jersey), who couldn't help either and had no idea what I should do.

So much for the "experts" (more hollow laughter).

Anyone here got any ideas, or better still, a definitive answer?

Many thanks.


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## NickZ (Jun 26, 2009)

I assume this is a listed trade company? Traded on an UK exchange?

If either of your banks offer trading on that exchange they should be able to take the shares and deposit it into your account. They may charge you something. 

But they should be able to handle this just fine. I just checked HSBC jersey and they have a fee for issuing certificates. Which is the opposite of what you want but it shows somebody should understand what you want.


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## davexf (Jan 26, 2009)

Hola

I´ve lived here for eleven years and bought and sold shares without problem. Recently I had sold most of my shares; I simply wrote to each registrar asking them to sell my shares and put the money in my UK bank account. 

I wonder if the problem is that you haven´t specified a sterling account to receive the money? 

Davexf


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## 90199 (Mar 21, 2010)

Try, Blevins Frank, they look after our U.K. financial interests and are licenced/ passport, to do so. Should be one near you.


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## rdh61 (Apr 7, 2014)

Thanks for your reply NickZ.



NickZ said:


> If either of your banks offer trading on that exchange they should be able to take the shares and deposit it into your account.


That's what I would have thought, too. "Should" is the operative word. Trouble is, the people I spoke to both at Sabadell locally and NatWest in Jersey apparently had no idea about what to do. I was probably not speaking to very clued up people. I will try writing a traditional letter, as suggested by davexf.


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## rdh61 (Apr 7, 2014)

Hola davexf!



davexf said:


> I wonder if the problem is that you haven´t specified a sterling account to receive the money?
> 
> Davexf


You may be right. I'll write to them as you suggested. Sometimes letters carry more weight than telephone conversations even nowadays.


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## rdh61 (Apr 7, 2014)

Hepa said:


> Try, Blevins Frank, they look after our U.K. financial interests and are licenced/ passport, to do so.


Thanks Hepa. Perhaps I'll keep that lead as a last resort - they sound expensive!


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## NickZ (Jun 26, 2009)

rdh61 said:


> Thanks for your reply NickZ.
> 
> 
> 
> That's what I would have thought, too. "Should" is the operative word. Trouble is, the people I spoke to both at Sabadell locally and NatWest in Jersey apparently had no idea about what to do. I was probably not speaking to very clued up people. I will try writing a traditional letter, as suggested by davexf.


Tell them you want to transfer in /deposit shares into your account. They tend to perk up at the thought of deposits. OTOH they try and make it hard to with draw


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## olivefarmer (Oct 16, 2012)

All very none pan european , EU or whatever. I had the same problem. rather than jump through hoops, I just changed the address on the account to one of the family in Uk then sold a few days later. Only down side was the usual avalanche of paperwork. 

As an aside, One of the worst for paperwork and sheer volumes of postal material is Halifax but their share dealing is very simple.


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## extranjero (Nov 16, 2012)

olivefarmer said:


> All very none pan european , EU or whatever. I had the same problem. rather than jump through hoops, I just changed the address on the account to one of the family in Uk then sold a few days later. Only down side was the usual avalanche of paperwork.
> 
> As an aside, One of the worst for paperwork and sheer volumes of postal material is Halifax but their share dealing is very simple.


I too have heard that Blevins Franks is expensive
Also, will you have to declare the sale on 720 next year?


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## rdh61 (Apr 7, 2014)

extranjero said:


> Also, will you have to declare the sale on 720 next year?


Yes, I believe you will. And declare it as income in your next declaración de la renta.


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## rdh61 (Apr 7, 2014)

Thanks for all the further replies. Yesterday I received an email from my Spanish bank (Sabadell). The lady I had spoken to first had since been in touch with the bank's stock broking people. Thankfully, they said yes they can deal with it. I have to take the certificates to the bank with details of the share registrars, the open a share account (cuenta de valores) where the shares will be deposited. Simples!
We'll see. I'll get back to let people know how it goes.


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