11D.9
- Document type
- Manual
- Dated
- Category
- Exchange Management Manual
Eligibility criteria for Remittance of Income to Non-residents
Authorised dealers may allow remittance of income earned in India by foreign nationals permanently resident outside India, provided beneficiary belongs to any of the following categories
(a) Foreign national who was never resident in India.
(b) Foreign national of Indian origin who settled down permanently in a foreign country before introduction of Exchange Control (i.e. 8th July 1947 in the case of erstwhile Sterling Area countries and 3rd September 1939 in the case of other countries).
(c) Foreign national who has retired from India after availing of retirement facilities.
(d) Emigrant from India in whose case Reserve Bank had agreed specifically to allow remittance of income on his assets left behind in India.
Regulations contained in the following paragraphs will also have to be complied with for remittance of specified types of income. Remittance of income other than income specifically stated in this Manual, such as income of a non-resident proprietor/partner from a proprietorship/partnership concern in India, capital gains arising out of any activity in India etc. requires specific prior approval of Reserve Bank.
NOTE: See paragraph 10C 24A regarding repatriation of current income earned by non-residents of Indian nationality/origin.