9 Essential Documents Required For Foreign Remittance From India

In today’s interconnected world, the need for international financial transactions has become increasingly prevalent. Whether it be for paying university fees or personal reasons such as sending money to loved ones abroad or for business purposes like making overseas investments, the process of remittance from India to foreign countries requires careful adherence to specific documentation.

Navigating the intricate landscape of foreign remittances can be a daunting task, especially for those unfamiliar with the necessary paperwork. To shed light on this crucial aspect of cross-border transactions, we have compiled a comprehensive guide that outlines the essential documents required for remitting funds from India to abroad.

UNIVERSITY FEES

Remittance for university fees refers to the transfer of funds from one country to another specifically for paying tuition fees at universities abroad. Here are all the documents needed for it:

KYC Documents:              

  • Remitter’s Pan Card
  • Student Passport Address Page
  • Student Passport Photo Page

Transaction Documents:

  • A2 Form Undertaking
  • University Letter with fees structure and course duration & Beneficiary Details
  • Fees Structure or I20 Form ( For US students only)
  • Student Visa (If Beneficiary is Individual)
  • Loan Disbursement Letter, if the student has applied for an education loan
  • Additional Documents such as Payment Supporting Documents like Loan letter/ Bank Statement/ Cheque Copy if the transaction is above USD 25,000
  • If remitting to FATF/ OFAC country-EDD form is required.

UNIVERSITY FEES OWN ACCOUNT

Remittance for university fees to one’s own account refers to the transfer of funds from one’s own bank account in one country to another country to cover the expenses related to university tuition fees and other educational costs. It allows students or their sponsors to make direct payments from their personal accounts for their educational expenses abroad. Here are all the documents needed for it:

KYC Documents:              

  • Student Passport Photo Page
  • Student Passport Address Page
  • Remitter Pan Card

Transaction Documents:

  • Form A2 Declaration cum Undertaking
  • University Letter with fees structure and course duration
  • Beneficiary Bank Details
  • I20 (For US Only) /Fees Structure from University
  • Student VISA
  • Accommodation Document / Signed copy of Rent Agreement (Optional)

GIC Remittance

GIC stands for Guaranteed Investment Certificate, which is a type of investment vehicle that offers a fixed rate of return over a specific period of time. It provides investors with a secure and guaranteed investment option. Here are all the documents needed for it:

KYC Documents                :

  • Remitter Pan Card
  • Student Passport Address Page
  • Student Passport Photo Page

Transaction Documents:

  • Form A2 Declaration cum Undertaking
  • GIC Letter with Beneficiary Details
  • Loan Disbursement Letter, if the student has applied for an education loan
  • Additional Documents such as Payment Supporting Documents like Loan letter/ Bank Statement/ Cheque Copy if the transaction is above USD 25,000

VISA FEE

Remittance for visa fees refers to the transfer of funds from one country to another for the purpose of paying the fees associated with visa applications or processing. It is a common practice for individuals who need to pay visa fees when applying for travel, work, or study visas. Here are all the documents needed for it:

KYC Documents                :

  • Pan Card
  • Passport Address Page
  • Passport Photo Page

Transaction Documents:

  • Form A2 Declaration cum Undertaking
  • Overseas Vendor Invoice or Letter from Visa Authority along with Beneficiary Details
  • Additional Documents such as Payment Supporting Documents like Loan letter/ Bank Statement/ Cheque Copy if the transaction is above USD 25,000

TOUR REMITTANCE

Tour remittance refers to the transfer of funds from one country to another for the purpose of financing expenses related to travel and tourism, such as accommodation, transportation, sightseeing, and other travel-related costs. It enables individuals to conveniently and securely manage their financial transactions while travelling abroad. Here are all the documents needed for it:

KYC Documents:

  • Passport Front
  • Passport Back
  • Pan Card

Transaction Documents:

  • Form A2 Declaration cum Undertaking
  • Overseas Vendor Invoice
  • Declaration cum Undertaking
  • Tour Operator Bank Statement (If Above USD 1,00,000)
  • EDD Form / OFAC declaration (For FATF /OFAC Countries) (if selected any FATF country)
  • Air Tickets
  • Visa/ Visa on Arrival

MEDICAL TREATMENT

Remittance for medical treatment refers to the transfer of funds from one country to another to cover the expenses associated with receiving medical care or undergoing treatment abroad. It allows individuals to access specialized medical services, seek advanced treatment options, or receive healthcare in countries with better medical facilities. Here are all the documents needed for it:

KYC Documents:              

  • Pan Card
  • Passport Address Page
  • Passport Photo Page

Transaction Documents:

  • Form A2 Declaration cum Undertaking
  • Visa
  • Return Air TIcket
  • Medical Document with Invoice/ Doctor’s Invoice

GLOBAL CONFERENCE

Remittance for global conferences refers to the transfer of funds from one country to another to cover expenses related to attending international conferences, seminars, or workshops. It facilitates participation in global events, networking opportunities, and knowledge sharing on a global scale. Here are all the documents needed for it:

KYC Documents:              

  • Pan Card
  • Passport Address Page
  • Passport Photo Page

Transaction Documents:

  • Form A2 Declaration cum Undertaking
  • Participation Supporting Document (Invitation Letter)
  • Form 15 CA /CB (For Groups only)

EMIGRATION FEES

Remittance for emigration fees refers to the transfer of funds from one country to another to cover the costs associated with the process of permanently moving to another country. It includes fees for visa applications, immigration processing, and other expenses related to the legal requirements of emigration. Here are all the documents needed for it:

KYC Documents:              

  • Pan Card
  • Passport Address Page
  • Passport Photo Page

Transaction Documents:

  • Form A2 Declaration cum Undertaking
  • Immigration Consultancy Fee Invoice
  • One-way Air Ticket

PORTUGUESE VISA FEES

Remittance for Portuguese visa fees refers to the transfer of funds from one country to Portugal specifically for paying the fees associated with visa applications or processing for individuals seeking to obtain a visa for entry into Portugal. It enables individuals to fulfil the financial requirements of the visa application process and facilitates their legal entry into the country. Here are all the documents needed for it:

KYC Documents:              

  • Pan Card

Transaction Documents:

  • Form A2 Declaration cum Undertaking
  • Overseas Visa Invoice
  • Address Proof

OVERSEAS EXAM FEES

Remittance for overseas exam fees refers to the transfer of funds from one country to another to cover the expenses related to taking exams or assessments in a foreign country. It allows individuals to pay for examination fees required for academic, professional, or certification purposes conducted outside their home country. Here are all the documents needed for it:

KYC Documents                :

  • Pan Card
  • Passport Address Page
  • Passport Photo Page

Transaction Documents:

  • Form A2 Declaration cum Undertaking
  • Exam Fee Supporting Document

OVERSEAS JOB APPLICATION

Remittance for overseas job application refers to the transfer of funds from one country to another to cover the expenses associated with applying for job opportunities abroad, such as application fees, document processing, or courier charges. It enables individuals to fulfil financial obligations and submit necessary documents to secure job opportunities in foreign countries. Here are all the documents needed for it:

KYC Documents:

  • Pan Card
  • Passport Address Page
  • Passport Photo Page

Transaction Documents:

  • Form A2 Declaration cum Undertaking
  • Overseas Vendor Invoice
  • Retainer Agreement

INTERNATIONAL SUBSCRIPTION FEE

Remittance for international subscription fees refers to the transfer of funds from one country to another for the purpose of paying fees for international subscriptions, such as online streaming services, digital content platforms, or membership-based services. It allows individuals to access and enjoy subscription-based services offered by providers based in different countries. Here are all the documents needed for it:

KYC Documents:              

  • Pan Card
  • Passport Address Page
  • Passport Photo Page

Transaction Documents:

  • Form A2 Declaration cum Undertaking
  • Overseas Vendor Invoice

Sending money abroad from India involves a thorough documentation process to ensure regulatory compliance and a smooth remittance experience. By being aware of the mandatory list of documents required for different purposes, you can avoid unnecessary delays and complications in your foreign remittance transactions.

Remember to double-check all the documents, ensure their accuracy, and keep copies for your records. Additionally, it is essential to stay updated with any changes in regulations or documentation requirements, as they may vary over time.

Lastly, consult with your bank or remittance service provider for any clarifications or assistance throughout the remittance process. They can guide you through the necessary documentation and help make your international money transfers hassle-free.

Sending money abroad from India for various purposes is made easier with a comprehensive understanding of the mandatory list of documents required. By following the regulations set by the RBI and providing the necessary documentation, you can ensure a seamless and secure remittance experience.

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