RBI Approvals
Assistance in obtaining Reserve Bank of India (RBI) approvals for repatriating amounts exceeding the permissible limits, or for special cases such as the sale of agricultural property or inherited wealth.
Problem Addressed:
NRIs often face restrictions due to the $1 million annual limit for repatriation or regulatory requirements for specific transactions like agricultural property sales, requiring prior RBI approval.
Process Flow:
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1. Eligibility Check:
Evaluate the transaction to determine if RBI approval is required. -
2.Documentation Preparation:
Compile necessary documents such as sale deeds, tax payment proofs, inheritance documents (if applicable), and bank statements. -
3. Application Filing:
Draft and submit the application to the RBI through the authorized dealer bank, detailing the purpose and amount to be repatriated. -
4.Follow-Up:
Liaise with the RBI and banks to address any queries and expedite approval. -
5. Repatriation Execution:
Once approved, process the fund transfer to the NRI's foreign account.
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