Remittance Schemes & Documentation for Resident Indians - ICICI Bank
Eligibility | All Resident individuals |
Limit | Within the overall limit of USD 250,000 per financial Year |
Documentation | |
Remarks |
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Eligibility | All Resident individuals |
Limit | Within the overall limit of USD 250,000 per financial year |
Documentation |
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Eligibility | All Resident individuals |
Limit |
Within the overall limit of USD 250,000 per financial year However individuals may avail of exchange facility for an amount in excess of the overall limit prescribed under the LRS, if it is so required by a country of emigration provided submission of proof of estimate by a country of emigration |
Documentation |
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Remarks |
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Eligibility | All Resident individuals |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation | |
Remarks |
A person is defined as a “Close relative” of another if they are:
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Eligibility | All Resident individuals |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation | |
Remarks |
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Eligibility | All Resident individuals |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation |
Eligibility | All Resident individuals |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation | |
Remarks |
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Eligibility | All Resident individuals |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation | |
Remarks |
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Eligibility | All Resident individuals |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation |
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Remarks |
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Eligibility | All Resident individuals holding account with ICICI Bank. |
Limit | No maximum monetary limit prescribed by RBI. Amount of remittance should not exceed total amount due on the Credit Card. |
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Remarks |
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Eligibility | All Resident individuals |
Limits | Upto USD 25,000 per financial year per person, for all permissible current account non-trade transactions |
Documentation | |
Remarks |
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Eligibility | All Resident individuals |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation | |
Additional Documentation |
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Eligibility | All Resident individuals holding account with ICICI Bank |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation | |
Remarks |
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Eligibility | All Resident individuals holding account with ICICI Bank |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation |
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Eligibility | All Resident individuals holding account with ICICI Bank |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation |
|
Remarks |
|
Eligibility | All Resident individuals holding account with ICICI Bank |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation |
|
Remarks |
|
Eligibility | All Resident individuals holding account with ICICI Bank |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation |
|
Additional Documents |
|
Eligibility | All Resident individuals holding account with ICICI Bank |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation |
|
Additional Documents |
|
Eligibility | All Resident individuals holding account with ICICI Bank |
Limit | Within the overall limit of USD 250,000 per Financial Year |
Documentation |
|
Additional Documentation |
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Documentation for Non-Resident Indian Customers
1. Remittance from NRE/FCNR account | |
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Limit | No Limit |
Form/Documents |
Online Remittance facility is also available for the customers having internet banking account with ICICI Bank.
For more details kindly contact to ICICI Bank Branch |
Current income (like Rental Income, Dividend, Interest Income, etc.)
- Rental Income: Rent receipts / Rent Agreement
- Dividend: Dividend Warrant / Intimation / Entry in bank statement showing receipt is on account of dividend
- Interest: Statement of Bank (if other than ICICI Bank Ltd.). If interest is on other securities, interest warrants or Bank statement clearly showing receipt is on account of interest.
In each of the above cases, if Form 16A (TDS Certificate) is submitted mentioning the source of funds, this may also be accepted.
* If source of funds is interest on the NRO savings account or NRO FD or NRE FD held with ICICI Bank Ltd and the interest is directly credited to the account, Form 15CA and CB not required.
* Remittance amount should be in line the source of income and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
Sale of property purchased from funds remitted from an overseas OR NRE/FCNR Account
- Copy of the registered sale deed for sale of property
- Copy of the registered purchase deed for acquisition of property
- FIRS for property acquired out of funds remitted from abroad or loan repaid out of funds from abroad (not required incase remittances processed through ICICI Bank).
- Bank statement showing the debits for payment for the property (for payments from NRE / FCNR accounts or loan repaid by debits to such accounts)
- If the property was acquired out of loan funds, loan statement or release letter from the lender
- Property acquisition declaration in prescribed format.
* The Capital gain can be repatriated from the NRO account as well upto a limit of USD 1,000,000/- per financial year.
* This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan. Such persons are required to obtained RBI approval in order to repatriate the funds.
* Remittance amount should be in line with the sale and purchase deed of property and same should be reflect into the customer’s bank statement clearly.
* Remittance amount should be in line with the sale and purchase deed of property and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
Sale of property purchased from a Rupee Source (while resident in India) and add the following pointers to
- Copy of the registered Sales Deed for the sale of the property. If the documents are in the vernacular language, then a translated copy, attested by a notary/authorised translator/advocate, is required.
- Property Acquisition Declaration (Annexure A-20) in the prescribed format signed by the remitter.
(Path to download the declaration format: Log in to Internet Banking > Click on ‘Fund Transfer’, available under Payment and Transfer > Select Overseas Account using Money2World > Repatriation from NRO SB via Wire Transfer > Click on ‘Download Declaration Format’ available under Quick Links) - No Due Certificate towards the loan (if the loan was taken to buy the property and was repaid).
* If the documents provided are in a language other than English or Hindi, the translated copy of the same duly attested by a notary public or an authorized translator is also required to be obtained.
* There is no requirement for holding the property for any minimum period.
* This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan. Such persons are required to obtained RBI approval in order to repatriate the funds.
*Remittance amount should be in line with the sale and purchase deed of property and same should be reflect into the customer’s bank statement clearly.
* Remittance amount should be in line with the sale and purchase deed of property and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
Sale of property acquired through inheritance
- Jamabandhi/7-12 Document (Saat Baarah)
- Copy of the death certificate of the deceased person on whose demise the succession document came into operation (not required in case of partition deed or court order)
- Property Acquisition Declaration (Annexure A-20) in the prescribed format signed by the remitter.
(Path to download the declaration format: Log in to Internet Banking > Click on ‘Fund Transfer’, available under Payment and Transfer > Select Overseas Account using Money2World > Repatriation from NRO SB via Wire Transfer > Click on ‘Download Declaration Format’ available under Quick Links).
- Copy of the registered sale deed for sale of property2. If the details of the inheritance are not clearly mentioned in the sale deed, please provide any one of the below:
- Copy of the Will
- Succession Certificate
- Legal Heirship Certificate
- Partition Deed
- Settlement Deed
- Court order
- Share certificate of Co-operative Housing Society showing transfer of the share to the seller
- Mutation Deed / Certificate
- Copy of the death certificate of the deceased person on whose demise the succession document came into operation (not required in case of partition deed or court order)
- Property acquisition declaration in prescribed format.
* If the documents provided are in a language other than English or Hindi, the translated copy of the same duly attested by a notary public or an authorized translator is also required to be obtained.
* There is no requirement for holding the property for any minimum period.
* This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan. Such persons are required to obtained RBI approval in order to repatriate the funds.
* Remittance amount should be in line with the sale and purchase deed of property and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
Funds from Cancellation or Refund of application for Purchase of Property
- Please provide any one of the following:
Valid documentary evidence for cancellation of the deal, like cancellation agreement or correspondence between the parties etc.
OR
If the remitter has assigned the rights to another person, copy of the tri-partite agreement between the seller, remitter and such third party or No Objection Certificate from the builder, supported by an agreement between the parties. - Declaration for refund of application/earnest money /purchase consideration on account of non-allotment of the flat/plot/cancellation of booking/deal, for purchase of a residential/commercial property by the developer/builder etc. (Annexure A-32) duly filled and signed by the remitter.
(Path to download the declaration format: Log in to Internet Banking > Click on ‘Fund Transfer’, available under ‘Payment and Transfer’ > Select Overseas Account using Money2World > Repatriation from NRO SB via Wire Transfer > Click on ‘Download Declaration Format’ available under Quick Links).
* If the documents provided are in a language other than English or Hindi, the translated copy of the same duly attested by a notary public or an authorized translator is also required to be obtained.
* This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan. Such persons are required to obtained RBI approval in order to repatriate the funds.
* Remittance amount should be in line with the agreement/receipt of property and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
Sale of shares OR Mutual Funds
- For shares sold through the Stock Exchange – copy of the Demat Statement from the Depository Participant, showing the amounts credited to the account (should match with the account statement) OR contract notes for the sale of shares.
- Declaration of repatriation of the sales proceed of Shares and Mutual Funds – (Annexure A-30) duly filled and signed by the remitter.
(Path to download the declaration format: Log in to Internet Banking > Click on ‘Fund Transfer’, available under Payment and Transfer > Select Overseas Account using Money2World > Repatriation from NRO SB via Wire Transfer > Click on ‘Download Declaration Format’ available under Quick Links). - Remittance amount should be in line with the sales of shares and same should be reflecting into your bank statements clearly. Additional documents may be required to process the request.
* Remittance amount should be in line with the sales of shares and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
Gift from a Close Relative
- Gift Declaration (Annexure A-31) duly filled and signed by the remitter stating the details of the gift.
(Path to download the declaration format: Log in to Internet Banking > Click on ‘Fund Transfer’, available under Payment and Transfer > Select Overseas Account using Money2World > Repatriation from NRO SB via Wire Transfer > Click on ‘Download Declaration Format’ available under Quick Links).
* Gift is only a permissible source of funds where received from a close relative of the NRI.
*Gift in rupees from any other person is not a permissible source and RBI approval is required to repatriate the same.
* Remittance amount should be in line with the Gift deed/Declaration and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
Other assets eligible for repatriation (like FD proceeds, PPF balances, Insurance claim/maturity, Matuirty of debentures/bonds,etc.)
- Documentary evidence in support of the acquisition of the assets proposed to be remitted:
- FD : FD receipt / Bank statement
- PPF Balances : PPF passbook (if other than ICICI Bank Ltd)
- Insurance claim / maturity : Copy of the policy document OR Advice from the Insurer regarding Maturity/Claim OR Letter or Warrant from the Insurance Company
- Maturity of Debentures / Bonds : Copy of the Redemption or Maturity Certificate OR the Demat Statement OR Letter from the issuing company
- For transferring, the funds received from the above listed sources Annexure A-18 duly filled and signed by the remitter will be required.
(Path to download the declaration format: Log in to Internet Banking > Click on ‘Fund Transfer’, available under ‘Payment and Transfer’ > Select Overseas Account using Money2World > Repatriation from NRO SB via Wire Transfer > Click on ‘Download Declaration Format’ available under Quick Links).
- Above list is illustrative. Broadly, for any sale of assets, documentary proof of the sale is required.
- In case of assets acquired by inheritance or legacy, in addition to the respective document mentioned above (which would be in the name of the decease legator, also obtain any one of the following:
- Copy of the Will
- Death certificate of asset owner.
- Succession Certificate
- Legal Heirship Certificate
*In case the remittance is to be made in more than one installment, all such remittances should be made through the same authorized dealer.
* Facility does not extend to citizens of Pakistan, Bangladesh, Nepal and Bhutan. Such persons are required to obtain RBI approval in order to process the remittance.
* In case of death claims by non-resident heirs of account holder, documents for death claim will be required.
* Remittance amount should be in line with asset deed and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
Repayment of loan from individual
- Loan Agreement/written consent from the borrower and the lender specifying the amount, date, period and terms of the loan OR Declaration for the repayment of loan and interest thereon (Annexure A-15), duly filled and signed by the remitter. Terms should be in conformity with the conditions given below:
- *Period of loan cannot exceed 3 years
- Rate of interest on the loan shall not exceed two percentage points over the bank rate prevailing on the date of availment of the loan.
- The amount of loan is received by inward remittance in free foreign exchange through normal banking channels or debit to the NRE/FCNR account of the non-resident lender.
- Remittance amount should be in line with the loan deed and same should be reflect into your bank statements clearly. Additional documents may be required to process the request
* Minimum maturity period of loan is one year.
* Loan is free of interest.
* The amount of loan is received by inward remittance in free foreign exchange through normal banking channels or debit to the NRE/FCNR account of the non-resident lender.
* Remittance amount should be in line with the loan deed and same should be reflect into your bank statements clearly. Additional documents may be required to process the request
Others
Please contact your Relationship Manager or nearest ICICI Bank branch.
Documentation for Foreign Nationals
Eligibility | Foreign nationals holding resident accounts in India |
Limit | Upto net salary received in India after deduction of applicable taxes and provident fund contribution and other deductions |
Documentation |
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Remarks: |
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Eligibility | Foreign student/trainee holding savings account with ICICI Bank who has completed his/her studies / training |
Limit |
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Documentation |
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Eligibility | Foreign tourist holding FNO account with the bank |
Limit | Amount remitted from abroad or rupee proceeds of foreign exchange brought to India |
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