Paying zakat on stocks but has no income

Question

Assalamualaikum

I have a question regarding giving zakat on stocks. There is a person having some shares in stock since last 3 years and the value of those is around $955 from long time investment and he didn't withdraw money from the market but that person does not have any earnings through job or any other income. So does that person has to pay zakat compulsorily? because i have read that you need to pay zakat if you have earnings.

Does he need to sell some shares to pay the zakat or can he take some money from others to pay zakat and repay them later?

So please can someone answer this question.

Answer 1

If this person has other zakatable assets that when combined with this take them beyond the nisab amount, then yes, the value of these shares should be included in the amount that zakat is calculated on. This is the safest opinion. If the total zakatable assets are under the nisab amount, no zakat is due.

If the shares yield dividend and the intention for buying and holding them is to hold them long term for dividend, then there is an opinion that you don't pay zakat on the value of the shares.