London Stock Exchange · Basic Materials
Invest in Meridian Mining stock from India
Indian and foreign residents can buy Meridian Mining (MNO) shares directly through Paasa.
By Paasa · Updated
Meridian Mining at a glance
- Price
- £1.18+£0.00 (0.34%)
- Market cap
- £574.85M
- Day range
- £1.17 – £1.18
- P/E
- -181.81
- Dividend yield
- None
- Volume
- 93.56K
How to invest in Meridian Mining 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 GBP when you buy.
Step 3
Search MNO and buy
Find Meridian Mining by name or by its ticker, MNO, and place your order.
Why invest in Meridian Mining from India
What Meridian Mining does
Operating alongside its various subsidiary companies, Meridian Mining Plc focuses on the procurement, assessment, and advancement of mineral assets throughout Brazil. The firm's exploration endeavors specifically target valuable deposits of manganese, gold, copper, and silver. Meridian Mining operates in the Industrial Materials 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.
Here's what inheritance rules in the UK mean for your Meridian Mining shares.
Shares in UK-incorporated companies are UK-situs assets and fall within UK Inheritance Tax, charged at 40% above the £325,000 threshold for non-residents.
Frequently asked questions
Can I buy Meridian Mining stock from India?
Yes. Indian residents and NRIs can buy Meridian Mining (MNO) shares directly through Paasa. Meridian Mining is listed on the London Stock Exchange, in the Industrial Materials 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 Meridian Mining dividends taxed for Indian investors?
Meridian Mining does not currently pay a dividend, so there is nothing to withhold or declare today. If it starts paying one, the UK levies 0% withholding tax on company dividends paid to non-residents, and dividends are taxed at your slab rate in India.
What tax do I pay in India when I sell Meridian Mining shares?
Non-residents are exempt from UK capital gains tax on the disposal of listed shares. 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 GBP/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.
What happens to my Meridian Mining shares if I pass away?
Shares in UK-incorporated companies are UK-situs assets and fall within UK Inheritance Tax, charged at 40% above the £325,000 threshold for non-residents. The rule looks at everything you hold there, not at Meridian Mining alone.
Is there stamp duty when I buy Meridian Mining shares?
The UK charges 0.5% Stamp Duty Reserve Tax when buying direct company shares electronically on the LSE; ETFs and UCITS funds do not attract it.