Singapore Exchange · Basic Materials
Invest in Fortress Minerals stock from India
Indian and foreign residents can buy Fortress Minerals (OAJ) shares directly through Paasa.
By Paasa · Updated
Fortress Minerals at a glance
- Price
- S$0.20+S$0.00 (0.00%)
- Market cap
- S$104.66M
- Day range
- S$0.20 – S$0.21
- P/E
- —
- Dividend yield
- —
- Volume
- 82.20K
- 1 month
- -14.89%
- 6 months
- -21.57%
- YTD
- -16.67%
- 1 year
- -14.89%
- 5 years
- -46.67%
How to invest in Fortress Minerals from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit, and Interactive Brokers converts the dollars to SGD when you buy.
Step 3
Search OAJ and buy
Find Fortress Minerals by name or by its ticker, OAJ, and place your order.
Why invest in Fortress Minerals from India
What Fortress Minerals does
Fortress Minerals Ltd. is an investment holding company, which engages in the production of iron ores. It operates through the Iron Ore and Other segments. Fortress Minerals operates in the Steel industry within the Basic Materials sector.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Frequently asked questions
Can I buy Fortress Minerals stock from India?
Yes. Indian residents and NRIs can buy Fortress Minerals (OAJ) shares directly through Paasa. Fortress Minerals is listed on the Singapore Exchange, in the Steel industry. Your money leaves India under the RBI's Liberalised Remittance Scheme and the shares are held in your own name at Interactive Brokers.
How are Fortress Minerals dividends taxed for Indian investors?
Fortress Minerals trades on the Singapore Exchange but is domiciled in Malaysia, so any withholding on its dividends follows that country's rules rather than those of Singapore. Dividends are taxed at your slab rate in India. Paasa's dividend report shows the gross amount and any tax withheld for each payment.
What tax do I pay in India when I sell Fortress Minerals shares?
Singapore does not levy capital gains tax on the sale of shares, ETFs or REITs. In India, gains on shares held for more than 24 months are long-term and taxed at 12.5%, and gains on shares held for 24 months or less are short-term and taxed at your income-tax slab rate. Both are worked out in rupees at the SGD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.