Forex-atclick

Rules


Limit of USD 2,50,000* or it’s equivalent per financial year is applicable for the below mentioned purposes of travel:

  • Private Visit (Leisure Travel)
  • Employment
  • Accompanying patient abroad
  • Business Travel from Individual/ Proprietorship account
  • Education
  • Emigration
  • Medical Treatment/ Person who has fallen sick after going abroad

*The overall limit available for an individual, under Liberalised Remittance Scheme for Resident Individuals (LRS) is USD 2,50,000 per financial year and the other limits as per Schedule III pertaining to travel, business, medical, education, immigration, etc have been subsumed under the LRS limit (within the overall limit of USD 2,50,000 per financial year). Hence the limit is the combined limit available for various purposes and products.

Please note that any remittance exceeding USD 2,50,000 should be as per RBI guidelines. For more information, please contact the nearest ICICI Bank Forex Servicing branches.

Documentation


Purpose of Travel Documentation for ICICI Bank account holder Documentation for non ICICI bank account holder
Private Visits (Leisure Travel)

Form A2 cum application and LRS declaration

Self-attested copy of PAN (if applicable)

Self-attested copy of Passport

Form A2 cum application and LRS declaration

Self-attested copy of PAN

Self-attested copy of Passport

Self-attested copy of VISA.

In case VISA is on arrival then copy of air ticket to be taken

Going abroad on employment
Business trip – Funding from Resident Individual Account or Proprietorship Account
Attendant accompanying a patient for medical treatment/ check-up abroad
Emigration
Education (Studies Abroad)
Medical Treatment/ Person who has fallen sick after going abroad

 

Note:

In case the forex limit exceeds USD 2,50,000 or it’s equivalent for purposes of Emigration, Education and Medical treatment, additional supporting document is required. For emigration, the estimate from the country of emigration; for education - estimate from the institution abroad; and for Medical treatment – the estimate received from the Doctor in India or Hospital/doctor abroad would be required.

For more information, please visit the nearest ICICI Bank Forex Servicing branch.

Service Tax Slab


Service Tax including Cess:
Up to Rs. 1,00,000 0.15% or Rs. 37.5 whichever is higher
Rs.1,00,000 to 10,00,000 Rs.150 + 0.075% on amounts over Rs. 1,00,000
Rs.10,00,000 and above Rs. 825 + 0.015% on amounts over Rs. 10,00,000, subject to maximum amount of Rs. 7,500

Note: Taxes and charges (if any) are subject to change from time to time.