What’s the Maximum Amount of Money Allowed to be Transfered from India to UAE?

SourceAl Bawaba

Know the law: What are the legal restrictions involved in wiring money from India? Question: I am in a difficult position and need your help. My son is suffering from a rare bone disease and we have been struggling to meet the expenses for his treatment. He needs a surgery and long-term rehabilitation. We had approached a charity in India and they crowd-sourced some money for my son.

Will it be legal for me to accept that money while I am residing in the UAE? Can that money be wired to the UAE from India? What are the legal restrictions involved? Pursuant to your queries, it may be noted that the Foreign Exchange Management Act of 1999 (FEMA); Foreign Exchange Management (Remittance of Assets) Regulations of 2016 read with Notification No. FEMA 13 (R)/2016-RB issued on 1 April 2016 (the Notification), and Master Direction 13/ 2015-16 - Remittance of Assets updated on 28 April 2016 (the Master Direction), shall...read more...