One can definitely send money overseas from India following the guidelines under FEMA by RBI.
The rules are broadly based on the residential status of the remitter and its purpose.
Business-related transactions relating to the import and export of goods and services are restricted to be handled only by Authorised Banks.
With the introduction of Liberalised Remittance Scheme on February 4th,2004, GOI has allowed the general public to transfer money abroad for permitted current or capital account transactions.
Presently residents of India are allowed to remit money up to USD 2.5 lakhs or equivalent per financial year.
We, Orient Exchange, have been granted an AD-Cat II license and have been permitted to facilitate outward remittances for 17 specified purposes.
Send money abroad through us to your loved ones at much better rates than banks.
No comments:
Post a Comment