Converting Old Indian Physical Shares to Demat from Mississauga
A paper share certificate cannot be sold. Before anything else can happen — a sale, a transfer, a distribution among heirs — the holding has to be dematerialised into a demat account in India.
We handle that conversion for families in Mississauga, along with IEPF claims and transmission where the shareholder has died. The first assessment is free.
Claims from Mississauga, Ontario, handled from our Gurugram office · Reviewed 21 September 2026
Certificates that came over in a suitcase
Mississauga households hold a lot of physical Indian share certificates, often brought over years ago for safekeeping and then left in a drawer. They are still valid evidence of ownership, and in most cases the company and the holding still exist.
What has usually lapsed is everything around them: the folio’s KYC, the registered address, sometimes the shareholder. Sorting those out is what stands between the certificate and a tradeable holding.
Ontario notarisation, Ontario apostille
Canada joined the Hague Apostille Convention on 11 January 2024, and that changed the paperwork for Indian claims. Documents signed in Canada are now notarised and apostilled, and the Indian missions have confirmed that an apostille needs no further attestation or legalisation from them.
Apostilles come from Global Affairs Canada, and for documents originating in several provinces — Ontario, British Columbia, Alberta, Quebec and Saskatchewan among them — from that province’s own competent authority. Check which route applies to your document before booking anything.
Documents signed in Mississauga are notarised in Ontario and apostilled by the province’s Official Documents Services. Ontario is served by the Consulate General of India in Toronto.
What you will need
- Affidavit-cum-NOC and indemnity bond, notarised in Canada and apostilled
- Passport, OCI card if you hold one, and PAN
- Proof of your Canadian address for KYC
- An Indian demat account, usually NRO-linked, opened before the claim goes in
Where the shares land, and moving money out
Shares are credited to an Indian demat account, in most inheritance cases an NRO-linked one. NRIs may remit up to USD 1 million per financial year from NRO balances, with Form 15CA and a chartered accountant’s certificate in Form 15CB.
On the Canadian side, holding Indian securities can bring the T1135 foreign income verification form into play once your foreign property crosses CAD 100,000. That is a question for a cross-border tax adviser, not for us, but it is better raised before a sale than after.
What we handle
Questions from Mississauga
What does dematerialisation actually involve?
You open a demat account in India, the folio’s KYC is brought up to date, and the original certificates are submitted through your depository participant to the company’s registrar, which extinguishes the paper and credits the shares electronically.
Can I demat shares that are still in my late father’s name?
Not directly. The shares must be transmitted to the heirs first; the credit then goes to the claimant’s demat account. Since April 2026 that credit is direct, with no Letter of Confirmation step in between.
Do the certificates have to be couriered to India?
Yes, originals are required for physical holdings. We advise on tracked courier and keeping a full copy set before anything is sent.
What if some certificates are missing?
Duplicates can be applied for by the registered holder or the legal heirs. Since December 2025 the process is simpler for holdings up to ₹10 lakh, needing an affidavit-cum-indemnity rather than a police complaint and newspaper notice.
How do you charge?
An agreed percentage of the value, after the shares are credited. Nothing in advance, and the assessment is free.