Foreign currency account eligibility governs permitted funding, use, joint holding, and operational restrictions for resident and specialised accounts. Foreign currency accounts may be maintained by resident persons and specified entities through authorised dealers under separate eligibility and operating ... Summary
Foreign currency account eligibility governs permitted funding, use, joint holding, and operational restrictions for resident and specialised accounts.
Foreign currency accounts may be maintained by resident persons and specified entities through authorised dealers under separate eligibility and operating conditions. Resident Foreign Currency Accounts may hold designated foreign exchange receipts and permit unrestricted utilisation, including overseas investment, while resident relatives may only be non-operating joint holders during the account holder's lifetime. Resident Foreign Currency (Domestic) Accounts may be funded from specified lawful foreign-currency receipts, must be non-interest-bearing current accounts, and may be debited only for permitted current-account or capital-account transactions. Special Economic Zone, exporter, project office, foreign-investment and event-related accounts remain subject to purpose-based funding, use, closure and regulatory conditions.
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