Liberalised Remittance Scheme-RBI-VRK100-05Oct2011

Liberalised Remittance Scheme - RBI

How much can be invested by a resident Indian abroad?

All resident individuals are allowed to freely remit up to $ 200,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. This is as per Reserve Bank of India’s Liberalised Remittance Scheme introduced in February 2004.

Under the Scheme, resident individuals can acquire and hold immovable property or shares or mutual funds or debt instruments or any other assets outside India, without prior approval of the RBI. Individuals can also open, maintain and hold foreign currency accounts with banks outside India for carrying out transactions permitted under the Scheme subject to conditions.

The facility under the Scheme is in addition to those already available for private travel, business travel, studies, medical treatment, etc. The Scheme can also be used for these purposes.