Deals offering easy payment plans with instalments over years may violate FEMA. Regulations permit remittance of $250,000 per individual annually for property purchases abroad.
Navigating property purchases in Dubai can be a regulatory maze for Indians due to foreign exchange laws. Deals offering easy payment plans with instalments over years may violate FEMA. Regulations permit remittance of $250,000 per individual annually for property purchases abroad. However, transactions involving instalments create obligations in foreign exchange, potentially breaching FEMA rules. With Indians among the top property buyers in Dubai, it s crucial for buyers to understand and comply with Indian forex regulations to avoid legal issues.
Navigating property purchases in Dubai can be a regulatory maze for Indians due to foreign exchange laws. Deals offering easy payment plans with instalments over years may violate FEMA. Regulations permit remittance of $250,000 per individual annually for property purchases abroad. However, transactions involving instalments create obligations in foreign exchange, potentially breaching FEMA rules. With Indians among the top property buyers in Dubai, it s crucial for buyers to understand and comply with Indian forex regulations to avoid legal issues.
India Business News: Indian banks are gearing up for changes in rules on international credit card spending under the liberalised remittance scheme (LRS). The Reserve Bank
Splashing cold water on lavish holidays may be the last thing now on New Delhi s mind. But banks are not taking chances despite the poll fever hotting up.