My cousin is leaving country for employment purpose in South Africa, he wants to know the amount of cash (limit) he can carry, how can he transfer funds via bank, is there any need to open separate account, if wants to buy car?
What are the rules and is there any authentic website where i can find needful information?
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Rules for South Africa
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He can carry 25000/- in Indian currency and upto 3000/- in foreign currency notes or coins....and under liberalised remittance scheme you can freely transfer upto $250000/- via wire transfer through any bank.
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