Thursday, September 30, 2010

How Much An Indian Resident can transfer to aquire foreign equity , immovable property , assets etc per financial year?

Up to $ 75,000 per Financial Year!

As per RBI guidelines, resident Indians are allowed to transfer up to $75,000 (around Rs 45 lakh year) abroad without its approval under the Liberalized Remittance Scheme (LRS) in a financial year. The earlier limit was $ two lakhs (Rs 90 lakh) a year. Indians can transfer $ 75000 lakh to acquire and hold immovable property, make investment in financial instruments or purchase any other asset abroad without any prior approval.

Hence , if a resident Indian wants to invest in shares of foreign company , he can invest up to $ 75,000 per financial year through his authorised dealer.

Please note that a Indian resident can transfer up to $ 75,000 for overseas investment per financial year and this is not an one time investment and he can make investment of $75,000 on each financial year basis.

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