Singapore Exchange · Consumer Cyclical
Invest in MoneyMax Financial Services stock from India
Indian and foreign residents can buy MoneyMax Financial Services (5WJ) shares directly through Paasa.
By Paasa · Updated
MoneyMax Financial Services at a glance
- Price
- S$0.52+S$0.02 (4.00%)
- Market cap
- S$662.43M
- Day range
- S$0.50 – S$0.53
- P/E
- —
- Dividend yield
- —
- Volume
- 763.80K
- 1 month
- -3.70%
- 6 months
- -32.03%
- YTD
- +50.72%
- 1 year
- +61.24%
- 5 years
- +614.78%
How to invest in MoneyMax Financial Services 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 5WJ and buy
Find MoneyMax Financial Services by name or by its ticker, 5WJ, and place your order.
Why invest in MoneyMax Financial Services from India
What MoneyMax Financial Services does
MoneyMax Financial Services Ltd., an investment holding company, operates as a financial service provider, retailer, and trader of luxury products in Singapore and Malaysia. The company operates in four segments: Pawnbroking; Retail and Trading of Gold and Luxury Items; Secured Lending; and Others. MoneyMax Financial Services operates in the Specialty Retail industry within the Consumer Cyclical 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 MoneyMax Financial Services stock from India?
Yes. Indian residents and NRIs can buy MoneyMax Financial Services (5WJ) shares directly through Paasa. MoneyMax Financial Services is listed on the Singapore Exchange, in the Specialty Retail 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 MoneyMax Financial Services dividends taxed for Indian investors?
Singapore levies 0% withholding tax on dividends from resident companies. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment, which is what you need when you file.
What tax do I pay in India when I sell MoneyMax Financial Services 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.
Would my heirs owe estate tax on MoneyMax Financial Services shares?
Singapore imposes no estate or inheritance tax on listed securities. That is the source-country side; the shares themselves pass on like any other asset you hold in your own name.