Skip to content

Banks question transfer of funds by NRIs via LLP route

Many Indians who have relocated abroad or who intend to do so attempt to arrange how to transfer the money they receive from the sale of their possessions overseas.

Photo by lucas Favre / Unsplash

Many non-resident Indians (NRIs) who are sending money out of India are running into problems with the banks.

Large local banks in which NRIs have Non-Resident Ordinary (NRO) accounts have expressed concern about the usage of Limited Liability Partnership (LLP) vehicles by these individuals to repatriate funds from abroad. In NRO accounts, NRIs manage their savings and receive dividends, rent payments, and interest generated in India.

This post is for paying subscribers only


Already have an account? Log in