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RBI guidelines for Outward Remittance

Purpose of Remittance Eligibility Quantum of Exchange Documentation
Personal Private Leisure Visits
  • Resident Indian Nationals.
  • Foreign Nationals permanently resident in India are also eligible to avail of this quota provided the applicant is not availing of facilities for remittance of his salary, savings etc. abroad in terms of the existing FEMA regulations.
  • Foreign born wife of Indian nationals.
  • Children endorsed on parent’s passport are also eligible for full entitlement.
  • Up to a total of US$ 10000 or its equivalent per resident individual on a financial year basis.
  • Out of which maximum of USD 3000 or its equivalent in Currency notes per visit and rest in Travelers Cheques for all the countries except for travel to Iraq, Libya, Islamic Republic of Iran, Russian Federation and other Republics of Commonwealth of Independent States.
  • Individual traveling to countries like Nepal & Bhutan are not eligible to withdraw foreign exchange under this scheme.
  • Foreign exchange quota for personal visit can be availed over & above the specified amount under all other schemes for release of foreign exchange.
  • Request cum FEMA Declaration form for release of exchange under personal visit scheme
  • Form A2
  • Passport, valid visa
  • If the applicant is a foreign national permanently resident in India, he/she should give an undertaking on the application itself that he/she is permanently resident in India and is not availing of facilities for remittance of his/her salary. Saving etc. abroad in terms of existing FEMA Regulations.
  • Exceptions:
  • Visa may not be insisted upon in cases where travel is to a country-offering visa on arrival. However, undertaking for the same may be obtained
  • For Airline staff open ticket may be accepted. Proof of Airline staff may be kept in record.
Purpose of Remittance Eligibility Quantum of Exchange Documentation
Business Visit
  • Executives sponsored by firms/companies/organizations in India.
  • Participation in international conferences/seminars which are of a scientific, technical or educational nature.
  • Specialized training /study tour sponsored by institutions or undertaken by professionals like Doctors.
  • Up to USD 25000 per business trip irrespective of period of stay
  • Release of exchange beyond USD 25000 for a single business visit requires prior approval of RBI.
  • Exchange may also released to foreign nationals if the visit is sponsored by the company/firm/organization in India where they are employed on regular basis.
  • Personal Visit entitlement can be availed over and above the specified amount under this scheme
  • Request cum FEMA Declaration form for release of exchange under business visit scheme on company’s letterhead, duly signed by Authorized official of the company.
  • Form A - 2 (Only for the amounts exceeding USD 5000 equivalent.)
  • In case of travel for a conference / seminar the brochure giving full particulars of the Conference/seminar shall also be submitted along with the application.
  • In case of travel related to Training / Study tours the details of training/study tour along with a letter from the overseas institutions agreeing to provide necessary facilities for the training /study tour, and certifying that the expenses are being borne by the organization.
Purpose of Remittance Eligibility Quantum of Exchange Documentation
Employment abroad
  • Resident Indians
  • Up to USD 100,000
  • Request cum FEMA Declaration form for release of exchange by filling the relevant portion as per the type of remittance.
  • Employment Visa / Work Permit and letter from the overseas employer
  • Passport having valid visa in case the remittance is for employment, education abroad, and medical treatment and for permanent emigration.
  • A - 2 form (Only for the amounts exceeding USD 5000 equivalent.)
  • For application fees in case of foreign education or processing fees for immigration, valid visa is not required.
  • Maintenance of Close relative abroad (by resident Indian)
  • Resident Indians can remit to their close relative who are Non- residents and require funds abroad for their maintenance.
  • USD 100,000 (per year, per recipient)
  • Request cum FEMA Declaration form for release of exchange by filling the relevant portion as per the type of remittance.
  • Passport having valid visa in case the remittance is for employment, education abroad, and medical treatment and for permanent emigration.
  • A - 2 form (Only for the amounts exceeding USD 5000 equivalent.)
Purpose of Remittance Eligibility Quantum of Exchange Documentation
Maintenance of Close relative abroad (By resident but not permanently resident in India
  • By resident but not permanently resident in India and is a citizen of a foreign state other than Pakistan or is a citizen of India, who is on deputation to the office or branch or subsidiary or joint venture in India of such foreign company
  • Not exceeding net salary (after deduction of taxes, contribution to provident fund and other deductions)
  • Request cum FEMA Declaration form for release of exchange by filling the relevant portion as per the type of remittance.
  • Passport having valid visa in case the remittance is for employment, education abroad, and medical treatment and for permanent emigration.
  • A - 2 form (Only for the amounts exceeding USD 5000 equivalent.)
  • Education abroad
  • Resident Indian
  • Confirmed admission in overseas college/university/educational institution.
  • Student holding Indian passports who had earlier gone abroad for pursuing studies without availing of exchange, can avail foreign exchange for the balance period of the course
  • Students holding foreign passports dependent on their parents resident in India
  • Upto USD 100,000 ( Academic year)
  • Request cum FEMA Declaration form for release of exchange by filling the relevant portion as per the type of remittance.
  • Passport having valid visa in case the remittance is for employment, education abroad, and medical treatment and for permanent emigration.
  • A - 2 form (Only for the amounts exceeding USD 5000 equivalent.)
  • For application fees in case of foreign education or processing fees for immigration, valid visa is not required
Purpose of Remittance Eligibility Quantum of Exchange Documentation
Medical treatment abroad Resident Indian proceeding for permanent emigration abroad
  • Resident Indian
  • Must be suffering from an ailment requiring specialized treatment abroad.
  • Resident Indian fallen sick after proceeding abroad
  • Going abroad for Medical Check Up.
  • Upto USD 100,000
  • Request cum FEMA Declaration form for release of exchange by filling the relevant portion as per the type of remittance.
  • Passport having valid visa in case the remittance is for employment, education abroad, and medical treatment and for permanent emigration.
  • A - 2 form (Only for the amounts exceeding USD 5000 equivalent.)
  • Medical treatment abroad for Resident Indian
  • Resident Indian
  • Upto USD 100000 on the basis of self declaration
  • Exceeding USD 100000 on submission to AD of an estimate from the Doctor in India or hospital/ doctor abroad
  • Request cum FEMA Declaration form for release of exchange by filling the relevant portion as per the type of remittance.
  • Passport having valid visa in case the remittance is for employment, education abroad, and medical treatment and for permanent emigration.
  • A - 2 form (Only for the amounts exceeding USD 5000 equivalent.)
Purpose of Remittance Eligibility Quantum of Exchange Documentation
Emigration
  • Resident Indian Proceeding for permanent emigration abroad
  • USD 100,000 or amount prescribed by country of Emigration (lower of the two)
  • Request cum FEMA Declaration form for release of exchange by filling the relevant portion as per the type of remittance.
  • Passport having valid visa in case the remittance is for employment, education abroad, and medical treatment and for permanent emigration.
  • A - 2 form (Only for the amounts exceeding USD 5000 equivalent.)
  • For application fees in case of foreign education or processing fees for immigration, valid visa is not required.
Purpose of Remittance Eligibility Quantum of Exchange Documentation
Remittance under Liberalized Remittance Scheme
  • All Resident Individuals including Minors are eligible to avail the facility under the scheme.
  • The facility will not be available to corporate, partnership firms, HUF, Trusts, etc.
  • USD 200,000
  • The facility will be per financial year basis (April-March).
  • Limit of USD 200,000 under the Scheme would also include remittances towards Gift and donation by a resident individual.
  • This facility is available for making remittance up to USD 200,000 per financial year basis (April-March) for any current or capital account transactions or a combination of both.
  • Under this facility, resident individuals will be free to acquire and hold immovable property or shares, units of Mutual Funds or any other asset outside India and will also able to open and maintain and hold foreign currency accounts with a bank outside India for making remittances under the scheme. The foreign currency account may be used for putting through all transactions connected with or arising from remittances eligible under this scheme.
  • Requirements to be complied with the
  • remitter (Customer)
  • Request cum FEMA Declaration form for release of exchange
  • The remitter individual will have to designate our branch through which all the remittances under the scheme will be made.
  • Application cum declaration duly filled in all respect and signed by the applicant is to be taken.
  • Exceptions to be noted by Counter Staff
  • Remittance for any purpose specifically prohibited under Schedule-I (like purchase of lottery/sweep stakes, tickets proscribed magazines etc) or any item restricted under Schedule II of Foreign Exchange Management (Current Account Transactions) Rules, 2000.
  • Remittance made directly or indirectly to Bhutan, Nepal, Mauritius or Pakistan.
  • Remittances made directly or indirectly to countries identified by the Financial Action Task Force (FATF) as “non co-operative countries and territories” (as available on FATF website) viz Cook Islands, Egypt, Guatemala, Indonesia, Myanmar, Nauru, Nigeria, Philippines and Ukraine.
  • Remittances directly or indirectly to those individuals and entities identified as posing significant risk of committing acts of terrorism as notified separately by the Reserve Bank to the Banks.
  • Transactions in the nature of remittance for margins or margin calls to overseas exchanges/overseas counterparty are not allowed under the Scheme.
  • It is clarified that the banks should not allow any kind of credit facilities to resident individuals to facilitate remittances under the Scheme.
Remittances for Tour Arrangements (At the request of the traveler)
  • Traveler traveling abroad on personal/Leisure visit or business visit can remit up to a reasonable limit towards his hotel accommodation, tour arrangements, etc., in the countries proposed to be visited by him, provided it is out of foreign exchange purchased by the traveler from us (including exchange drawn for private travel abroad)
  • Reasonable amount within the BTQ or business quota
  • Letter from the Client duly signed by their authorized signatories clearly indicating the following details/particulars : -
  • Request for the remittance with the currency, amount and date of remittance.
  • Form A2 – Dully filled – in and signed by authorized signatories
  • FEMA Declaration format duly signed by authorized signatories