Indians returning to India may face restrictions on their Robinhood accounts. Since Robinhood only supports U.S. residents, you may be asked to provide a recent utility bill as proof of residency. Failure to do so could result in your account being limited to “position-closing only.”
Paasa can help you consolidate your RobinHood portfolio and guide you on staying compliant with Indian regulations.
How can I move my holdings to Paasa?
The process of transferring assets between two U.S. brokerages is called an ACATS transfer (Automated Customer Account Transfer Service). It allows you to move eligible positions without liquidating them.
Once you’ve opened a Paasa account, you’ll just need provide us three things:
Your latest account statement (PDF)
Found in - Accounts -> Reports and Statements -> Individual -> Select latest report
This will provide us with your Robinhood account number and allow us to evaluate whether any positions need to be sold before transferring to Paasa. Please note that crypto, crypto ETFs, leveraged ETFs, fractional shares, and margin positions cannot be transferred.
Your all time report (CSV)
Found in - Account -> Reports and Statement -> Reports -> Select the time period you've been using RH -> GenerateThis will let us import your transaction history so we can accurately generate your portfolio performance graph and calculate LTCG/STCG in the app.
Photo of your SSN Card
Required by the brokerage to verify that the Robinhood account being transferred belongs to you.
After you share the documents mentioned above, we’ll move your positions from RH.
- ACATs transfers are initiated from a receiving broker. Once you provide consent, we’ll initiate the transfer on your behalf.
- After your positions are transferred to Paasa, we can help you rebuild your portfolio with UCITS and global assets tailored to your plan and risk profile.
Note: Timelines vary by bank and Robinhood’s settlement windows, but most clients complete the move and reinvest within 5–10 business days after selling and withdrawal clear.
Why UCITS on Paasa?
Estate tax protection: US-listed ETFs count as US-situs assets for non-US persons and can face a progressive estate tax up to 40% above a $60,000 threshold. UCITS ETFs (Ireland/Luxembourg-domiciled) avoid US estate tax exposure. privatebanking.hsbc.com+1
More efficient dividends on US stocks: Irish-domiciled UCITS funds generally suffer 15% US dividend withholding (US–Ireland treaty) versus higher rates many non-treaty investors face on US-listed funds. State Street+1
Global diversification, one rulebook: UCITS give you deep menus across the US, Europe, Asia, EM, and global bonds, with robust investor protection standards and large, liquid vehicles from iShares, Vanguard, Invesco, etc. JPMorgan Chase
RNOR status: a helpful window (if you just returned)
If you’ve recently moved back, you may qualify as RNOR (Resident but Not Ordinarily Resident) for a limited period. In many cases, only Indian-sourced income is taxed in India during RNOR years; foreign income often remains outside Indian tax. This window can be useful for restructuring—exiting US-listed ETFs, moving to UCITS, and consolidating globally on Paasa. (Always confirm your facts with a tax professional.) India Briefing+1
Frequently Asked Questions
What can be moved from Robinhood?
Whole shares of publicly listed companies you own.
Cash balances
What cannot be moved directly?
Fractional shares, unsettled trades, crypto and margin positions—these must be sold first.
Will my cost basis be preserved?
Yes. When you reinvest on Paasa, we record purchase dates and amounts for accurate ongoing tracking. Keep your Robinhood statements for your tax files.
Yes. When you reinvest on Paasa, we record purchase dates and amounts for accurate ongoing tracking. Keep your Robinhood statements for your tax files.
What causes delays?
Name/date-of-birth/address/SSN mismatches between bank and investment accounts
Unsettled trades or pending corporate actions
Bank compliance checks during LRS remittance
If you have any questions or run into difficulties, we’re here to help. You can reach us at +91 98993 54394 or directly through the app.
We look forward to welcoming you fully onto Paasa!
Disclaimer
This blog is for informational purposes only and does not constitute investment, legal, or tax advice. Paasa does not control Robinhood’s processing timelines or bank remittance timelines. Eligibility, timelines, and costs are subject to change based on Robinhood/bank policies and regulation. Customers are responsible for verifying all account details, LRS compliance, and tax implications (including RNOR status) before initiating a move.
This blog is for informational purposes only and does not constitute investment, legal, or tax advice. Paasa does not control Robinhood’s processing timelines or bank remittance timelines. Eligibility, timelines, and costs are subject to change based on Robinhood/bank policies and regulation. Customers are responsible for verifying all account details, LRS compliance, and tax implications (including RNOR status) before initiating a move.
