The Liberalised Remittance Scheme (LRS) is indeed a scheme introduced by the Reserve Bank of India (RBI) to facilitate Indian residents to remit a certain amount of money abroad for various permissible current or capital account transactions. In fact, The LRS was first introduced in 2004 and allows resident individuals to remit up to USD 2,50,000 per financial year for investment or expenditure purposes, without seeking prior approval from the RBI. Legal Services for Liberalised Remittance Scheme at Rajendra Law Office Our Services Expertise in Liberalised Remittance Scheme Our team of lawyers indeed has extensive experience in advising clients on Liberalised Remittance Scheme [LRS] compliance and assisting them with navigating the regulatory framework for capital and current account transactions. Of course, We have a thorough understanding of the RBI’s guidelines and regulations related to the LRS, and we stay up-to-date with any changes or updates to the rules. Client Satisfaction At Rajendra Law Office, we are committed to providing our clients with exceptional legal services and ensuring their complete satisfaction. As a matter of fact, We work closely with our clients to understand their specific needs and provide tailored solutions to meet their requirements. Other Popular Pages Contact Us If you have any questions or require legal assistance with the Liberalised Remittance Scheme – LRS, please contact us at Rajendra Law Office. Finally, Our team of experienced lawyers will be happy to assist you. Address Contact Details Rajendra Law OfficeAdvocates & Legal Consultants323/156, #14, 2nd Floor, Andhra Insurance Building,Thambu Chetty […]
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Liberalized Remittance Scheme (LRS) is a scheme introduced by the Reserve Bank of India (RBI) to facilitate Indian residents to remit a certain amount of money abroad for various permissible current or capital account transactions. The LRS was first introduced in 2004 and allows resident individuals to remit up to USD 2,50,000 per financial year for investment or expenditure purposes, without seeking prior approval from the RBI.
The permissible capital account transactions under the LRS include opening foreign currency accounts with banks outside India for investment purposes, purchasing shares and securities outside India, making a contribution to foreign entities, acquiring immovable property outside India, and gifting and donating to relatives and charities abroad.
However, certain restrictions and conditions apply to the LRS, and individuals are required to comply with the guidelines issued by the RBI from time to time. The LRS is intended to encourage greater liberalization and encourage individuals to invest abroad and diversify their investment portfolios.
