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RBI Guidelines on International Money Transfer

Outward remittance in India can be described as a transfer of money in foreign exchange by a resident in India to a beneficiary situated outside the country (except Nepal and Bhutan) for a purpose as approved under FEMA (Foreign Exchange Management Act).

We as an Authorized Dealer- Category – II, are being permitted by RBI to remit money abroad for 17 purposes as listed below apart from regular money changing business. The OR transactions can be either a Wire Transfer or a Demand Draft. These 17 purposes are within the overall limit of LRS scheme.

The transactions are processed only on verifying the KYC of the remitter.Our branch staff – Asst Manager – Operations or Sales / Manager Sales / Branch Manager certifies the KYC with Original Seen & Verified seal and signature.

Can I send money abroad from India?

One can definitely send money abroad from India following the guidelines under FEMA by RBI. The rules are broadly based on residential status of remitter and purpose of remittance. Business transactions relating to import and export of goods and services are restricted to be handled only by Authorised Bank. With the introduction of Liberalised Remittance Scheme on February 4th ,2004, GOI has allowed general public to transfer money abroad for permitted current and capital account transactions. Presently residents of India are allowed to remit money up to USD 2.5 lakhs or equivalent during a financial year.

We, Orient Exchange, has been granted an AD-Cat II license and has been permitted to facilitate outward remittances for 17 specified purposes. Send money abroad through us to your loved ones at much better rates than banks.

The purposes permitted by RBI under AD-II license:

  • Private Visits,
  • Remittance by tour operators / travel agents to overseas agents / principals / hotels,
  • Business Travel,
  • Fee for participation in global conferences and specialized training,
  • Remittance for participation in international events, competitions (towards training sponsorship and prize money),
  • Film Shooting,
  • Medical Treatments abroad,
  • Disbursement of Crew Wages,
  • Overseas Education,
  • Remittance under educational tie up arrangements with universities abroad,
  • Remittance towards fee for examinations held in India and abroad and additional score sheets for GRE, TOEFL etc.,
  • Employment and processing, assessment fees for overseas job applications,
  • Emigration and emigration consultancy fees,
  • Skills / credential assessment fees for intending migrants,
  • Visa Fees,
  • Processing fees for registration of documents as required by Portuguese / other governments,
  • Registration / subscription / membership fees to international organizations.

Documents required to send money abroad

Sending money overseas through orient exchange has been made simple through our online booking platform. Over the years, the regulators have made few documents mandatory for remittances under LRS. A sheet detailing purpose-wise documentation has been listed out here for the benefit of our customers.

AD II TT purpose wise mandatory documentation

1 Remittance by Individual under Private Visits – S0306
  • Valid Passport, Ticket, Visa.
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration
  • Invoice from overseas hotel/ travel agent confirming the amount of remittance
  • Pan Card Mandatory
2 Remittance by tour operators / travel agents to overseas agents / principals / hotels,(For code creation of the travel agent, the KYC of the Travel Agent like Registration with authorities- copy, PAN card copy, telephone bill copies to be furnished to HOT & IT) – S0306
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration
  • Travel Agent letter - remittances, giving passengers list on Letter Head of Tour Operator with Passport details duly attested.
  • Invoice from overseas hotel/ travel agent confirming the amount of remittance. With seal & signature of overseas agent
  • Undertaking from tour operator for the Remittance on behalf of travellers.
  • Pan Card Mandatory .
  • Passport copies need to be collected and retained at branches.
  • 15 CA CB – in case the remittance is done by tour operators other than individual.
3 Business Travel – S0301
  • Valid Passport, Ticket, Visa.
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration.
  • Pan Card Mandatory.
4 Fee for participation in global conferences & specialized training – S0301
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration
  • Conference Invite along with the details of the participation fee and Remittance details.
  • Photocopy of the Passport, Ticket, and Visa.
  • Pan Card Mandatory.
5 Remittance for participation in international events / competitions (towards training sponsorship & prize money) – S0301
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration
  • KYC of the remitter, Copy of Passport.
  • Letter / Prospectus from the organizer of the event /competition stating the amount to be remitted.
  • Pan Card Mandatory.
6 Film Shooting – S0301
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration The request letter should provide purpose of travel, details of people traveling Along with their designation and Passport numbers.
  • It should also include date, venue of travel and Breakup of Amount / Cost involved.
  • Invoice from the overseas agent organizing or felicitating for shooting processes.
  • 15 CA CB – in case the remittance is done by film shooting company.
  • Undertaking from the company stating that no Foreign Exchange has been drawn from any other AD for the said trip.
  • Pan Card Mandatory.
  • Permission letter from Ministry of Information and Broadcasting.
7 Medical Treatment abroad - S0304

For the Patient

  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration.
  • Passport, Ticket, Visa.
  • Prescription and recommendation from local Doctor/ Hospital, Estimate from the Overseas Hospital/ doctor.
  • Pan Card Mandatory.

For the accompanying person

  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration.
  • Passport, Ticket, Visa. Retain copies
  • Pan Card Mandatory.
8 Disbursement of crew wages
  • Application cum Declaration under LRS Scheme & FEMA Declaration.
  • Captain passport, Inward swift (Captain Name & Passport no / Ship Name & Port name for Forex delivery)
  • Instruction Mail from the Shipping Agent.
  • Crew List
9 Overseas Education – S0305
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration.
  • Passport, Ticket, Visa. Retain copies.
  • Proof of Admission in the college/university aboard / I-20 (in case of 1st remittance of FEX)
  • Proof of continuing the course (in case of subsequent FEX remittance)
  • Pan Card Mandatory.
  • Above USD 250000/- (Non LRS) Admission letter/demand letter from College/University specifying amount to be remitted.
10 Remittance under Educational Tie-up (KYC of the Educational Institutes to be established and confirmed by remittance desk before execution of first transaction) – S0301
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration.
  • Copy of arrangement, Invoice.
  • Photocopy of the Pan card of the remitting institute Authorisation letter to the Authorised signatory to sign the Form-A2 and the declaration
11 Remittance towards fees for examinations held in India & abroad & additional score sheet for GRE, TOEFL etc. – S0305
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration.
  • Examination Guidelines specifying the Fee
  • Pan Card Mandatory
12 Employment & processing, assessment fees for overseas job applications – S0306
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration.
  • Passport, Ticket, Visa, Offer Letter. Retain copies.
  • Self-Declaration.
  • Pan Card Mandatory.
13 Immigration Emigration Consultancy Fees – S1109
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration. Only once at the time of immigration.
  • Passport, Ticket, Visa. Retain Copies.
  • Self Declaration
  • Pan Card Mandatory.
  • Certified Copy of Invoice / Debit Note.
  • Certified copy of the agreement / contract.
14 Skill / credential assessment fees for intending migrants
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration.
  • KYC of the remitter.
  • Letter / Prospectus from the Embassy authorizing the amount to be collected and agency authorized to collect the fee.
  • Pan Card Mandatory.
15 Visa Fee – S1109
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration.
  • Embassy guidelines.
  • Pan Card Mandatory.
16 Processing fees for registration of documents as required by the Portuguese / other governments
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration.
  • Letter issued by the consulate
  • Any ID proof & address proof
  • Pan Card Mandatory.
17 Registration / subscription / membership fees to international organizations
  • Application cum Declaration under LRS Scheme & A2 Form & FEMA Declaration.
  • Invoice / Letter stating the amount to be remitted.
  • Pan Card Mandatory.