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Foreign Exchange Limits Overview

This document outlines retail foreign exchange sale limits for various purposes: - Basic Travel Quota of $10,000 per year for holidays and personal visits with required documentation. - Business travel limit of $25,000 per trip with documentation from employer stating travel is for business. - Immigration, employment, medical treatment, and study abroad limits are $100,000 per year with required documents. - Maintenance of close relatives abroad and liberalized remittance scheme limit is $200,000 per year with application and declaration forms. - Foreign currency notes and coins sold are limited to $3,000 or less depending on destination country.

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Chintan Jain
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102 views2 pages

Foreign Exchange Limits Overview

This document outlines retail foreign exchange sale limits for various purposes: - Basic Travel Quota of $10,000 per year for holidays and personal visits with required documentation. - Business travel limit of $25,000 per trip with documentation from employer stating travel is for business. - Immigration, employment, medical treatment, and study abroad limits are $100,000 per year with required documents. - Maintenance of close relatives abroad and liberalized remittance scheme limit is $200,000 per year with application and declaration forms. - Foreign currency notes and coins sold are limited to $3,000 or less depending on destination country.

Uploaded by

Chintan Jain
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Overview

Retail Foreign Exchange Sale Limits at a glance.

Purpose Limit Documentation

Basic Travel Quota (BTQ) - For USD $10,000.00


Application Form, Form A2 and Self Declaration
Holidays, Personal vists etc per financial year

Application Form with authorisation from the


USD $25,000.00 Company, Form A2, Letter from the Company
Business Travel
per Trip stating that the employee is going abroad on
business with details of places of stay

Immigration - For people who settle


USD $100,000.00
abroad in countries like Canada, Application Form, Form A2 and Self Declaration
per year
New Zealand etc.

Employment Abroad - For a person USD $100,000.00


Application Form, Form A2 and Self Declaration
who is going to work abroad per year

Medical Treatment - For people who USD $100,000.00


Application Form, Form A2 and Self Declaration
are travelling abroad for treatment per year

Studies Abroad - For students USD $100,000.00


Application Form, Form A2 and Self Declaration
pursuing studies abroad per academic year

Maintenance of close relatives USD $100,000.00


Application Form, Form A2 and Self Declaration
abroad per year

Investments overseas in shares, Application form, Declaration for purchase of


property, Gifts & Donations etc USD 200,000/- per foreign exchange under the liberalised
(under liberalised remittance sche financial year remittance scheme of USD 200,000 and Form
me only) A2 (Only for Individual residents a/c holders)

Important points to note:

 Out of the overall foreign exchange being sold to a traveller, exchange in the form of foreign currency
notes and coins may be sold up to the limit indicated below:
i. Travellers proceeding to countries other than Iraq, Libya, Islamic Republic of Iran, Russian
Federation and other Republics of Commonwealth of Independent States - not exceeding USD
3000 or its equivalent.
ii. Travellers proceeding to Iraq or Libya - not exceeding USD 5000 or its equivalent
iii. Travellers proceeding to Islamic Republic of Iran, Russian Federation and other Republics of
Commonwealth of Independent States - full exchange may be released.
 HDFC Bank offers American Express Travellers Cheques

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