Obtaining probate and transfer of inheritance to uk
This query is : Resolved
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?
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.
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