Remittance of assets: conditions and documentation required for authorised dealers to permit outward transfers under FEMA regulations. The Regulations permit outward remittance through an authorised dealer for specified persons (certain foreign citizens, NRIs, PIOs, and former students) ... Summary
Remittance of assets: conditions and documentation required for authorised dealers to permit outward transfers under FEMA regulations.
The Regulations permit outward remittance through an authorised dealer for specified persons (certain foreign citizens, NRIs, PIOs, and former students) up to an annual ceiling on production of documentary evidence of acquisition, inheritance, legacy, or legitimate account funds; sale proceeds repatriated under relevant FEMA immovable property and securities regulations are excluded from the ceiling, multiple instalments must use the same authorised dealer, NRO-account remittances require an undertaking of legitimacy, and remittances from companies in liquidation require compliance with court/liquidator orders and auditor certificates confirming liabilities and winding up compliance.
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