S. Gold Bonds

Save Share

This query is : Resolved

Quick Summary

This discussion clarifies whether an NRI daughter residing in the UK can be nominated for Sovereign Gold Bonds. The response confirms that an NRI can indeed be a nominee and have securities transferred to their name. However, it's important to note that the non-resident nominee must hold the security until maturity, and both the maturity value and interest earned are non-repatriable.

dilip phatak

dilip phatak (Querist)

16 May 2021 Sinrji,
I am applying for Sovereign Gold Bonds. Can I nominate my NRI daughter. She leaves in UK and now became resident of UK.
DILIP

CA Satish Badve

CA Satish Badve (Expert)

17 May 2021 Yes, An individual Non resident may get securities transferred in his name on account of he being the nominee.of diseased holder However the non resident should hold the security till maturity and maturity value and the int on the same in non repatriable.

dilip phatak

dilip phatak (Querist)

18 May 2021 Thanks sir
Dilip Phatak

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now