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of <h1>Revised Remittance Limits for Indian Entities' Overseas Offices: Initial and Recurring Expense Caps Updated by RBI.</h1> The circular addresses the establishment of offices abroad by Indian entities. It informs Category-I Authorized Dealer banks about the revised limits for remittances related to initial and recurring expenses for overseas offices. Initial expenses can now be up to 15% of the average annual turnover or 25% of the net worth, whichever is higher, while recurring expenses can be up to 10% of the average annual turnover. Additionally, companies with overseas offices can remit funds for acquiring immovable property abroad for business and staff residential purposes, subject to Reserve Bank approval. Amendments to relevant regulations are forthcoming.
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