Special Festive Offer: 10% OFF Across All Membership Plans. Subscribe Now!

Obtaining probate and transfer of inheritance to uk

Save Share

This query is : Resolved

ROHKUMAR (Querist)

16 December 2015 My mother who resided in Gujrat passed away recently leaving me as executor and beneficiary of all her assets,i.e. 52 lakhs IRS in 2 banks there.She had no other assets.
I am a UK citizen and live in USA
To transfer the money to my USA bank account,do I need to :
1)obtain a probate.If so,how much would it cost and how long would it take.An estimate for both would be helpful.
2)Would I then need any other approvals, e.g. foreign exchange transfer approval.
3) Are there any other steps to be taken?

Guest

Guest (Expert)

23 December 2015 As per clause 5 of Master circular on Remittance facilities for NRIs, You may transfer the money to your Non Resident Ordinary rupee account (NRO) from which you can remit the funds to your US Bank accounts. In case u dont have NRO Account, you may have to contact the banker for alternative routes - but you may ensure that the banker is made aware of this rule so that he may process the same at the earliest.

Message likes : 1 times

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now