Remittance Services Fees & Charges

Eligibility

USD 250,000 or equivalent per individual per financial year

No defined limit

Purposes

Capital Account transactions covered under LRS are as follow: 

• Opening of Foreign Currency Account abroad with a bank;

• Remittances for investment in Purchase of Property;

• Remittance towards Investments abroad (both listed and unlisted shares of an overseas company);

• Set up Joint Ventures (JV) / Wholly Owned Subsidiaries (WOS) by individuals outside India for bona-fide business activities outside India (with effect from August 5, 2013)- Refer all these cases to your nearest Trade desk only ;

• Extending loans including loans in Indian Rupees to Non-Resident Indians (NRIs) who are relatives as defined in Companies Act, 2013.

RBI has also brought the following purposes mentioned in the Schedule III under the umbrella of LRS.

• Private visits to any country (except Nepal and Bhutan);

• Gift or Donation;

• Going abroad for employment;

• Emigration;

• Maintenance of close relatives abroad;

• Travel for business, or attending a conference or specialized training or for meeting expenses for meeting medical expenses, or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/check-up;

• Expenses in connection with medical treatment abroad;

• Studies abroad;

• Any other current account transaction.

All other purposes besides the purposes mentioned under LRS

Exceptions

For the purposes Emigration, Expenses in connection with medical treatment abroad and Studies abroad, the individual may avail of exchange facility for an amount in excess of the limit prescribed under the Liberalized Remittance Scheme as provided in regulation 4 to FEMA Notification 1/2000-RB, dated the 3rd May, 2000 if it is so required by a medical institute offering treatment or the university or country of emigration, respectively.

NA

Documents

Form A2

List of Purpose Codes - Outward Remittance/ Forex Sale

LRS Declaration for Portfolio Investment

PIO and OCI Declaration for LRS

Form A2

List of Purpose Codes - OutwardRemittance/ Forex Sale