Prior permission for asset remittances governs high-value inheritance transfers and hardship-based remittances to persons residing outside India. Reserve Bank prior permission applies to specified asset remittances exceeding the prescribed annual threshold, including legacy, bequest or inheritance ... Summary
Prior permission for asset remittances governs high-value inheritance transfers and hardship-based remittances to persons residing outside India.
Reserve Bank prior permission applies to specified asset remittances exceeding the prescribed annual threshold, including legacy, bequest or inheritance remittances to foreign citizens resident outside India and remittances by Non-Resident Indians or Persons of Indian Origin from Non-Resident Ordinary account balances, asset sale proceeds, inheritance or legacy. Permission may also be sought where non-remittance would cause hardship to a person resident outside India. Permission may be granted subject to necessary terms and conditions.
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