Remittance of amount for sale proceeds
This query is : Resolved
kirti nagpal
(Querist)
13 August 2012
A NRI holds shares of an indian company and sells his shares, is he allowed to reptriate that amount???? if yes then what are the formalities?????
Amol S Joglekar
(Expert)
17 August 2012
current scenario of rupee convertibility on trading account or otherwise is quite liberal. The permission is generally granted ( no separate application is required to be made to reserve bank of india)subject to the monetary limit set by RBI on per annum basis.
kirti nagpal
(Querist)
17 August 2012
What are the Monetary Limits for the above Provision??
Amol S Joglekar
(Expert)
18 August 2012
Not sure off hand. But please confirm it with rbi.org site..... should be in the range of 5 lakh USD per annum.
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