Immigration Voice - Forums - Legacy
Register Get Involved Contact Lawmakers Advocacy Discussion Image Image Image Image

Go Back   Immigration Voice > General Information > Interesting Topics
Click to log in with Facebook
Interesting Topics This forum is to discuss any topic of interest to members and to gossip about anything that members prefer. All the terms of the forum and terms of use of the website do apply to this forum.

Reply
 
Thread Tools Display Modes
  #1  
Old 08-14-2013, 10:23 AM
imh1b imh1b is offline
Senior Member
Priority Date
:
Nov-05
Category
:
EB3
I140 Mailed Date
:
04/17/2006
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
07/02/2007
Compare
Join Date: Aug 2009
Posts: 870
imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute
Default Transfer rupee 2 dollar

Under new RBI guidelines, it seems transfer of rupees to dollar from India to US has been made difficult.

Instead of a $2Lakh limit per year, it is now $75K limit per year.

So if you are planning to sell expensive property and bring money here, it will not be easy.
Bookmark and Share Compare Reply With Quote


  #2  
Old 08-14-2013, 10:27 AM
krishmunn krishmunn is offline
Senior Member
Priority Date
:
Mar-08
Category
:
EB2
I140 Mailed Date
:
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
01/06/2012
Compare
Join Date: Dec 2007
Posts: 886
krishmunn has a reputation beyond repute krishmunn has a reputation beyond repute krishmunn has a reputation beyond repute krishmunn has a reputation beyond repute krishmunn has a reputation beyond repute krishmunn has a reputation beyond repute krishmunn has a reputation beyond repute krishmunn has a reputation beyond repute krishmunn has a reputation beyond repute krishmunn has a reputation beyond repute krishmunn has a reputation beyond repute
Default

Does anyone have experience transferring Rupee to $ ? Even with the earlier limit, I believe it is too much hassle to do this. Would appreciate any first hand experience
__________________
------------
Contribution $200
Bookmark and Share Compare Reply With Quote


  #3  
Old 08-15-2013, 10:16 AM
ramaonline ramaonline is offline
Senior Member
Priority Date
:
Oct-06
Category
:
EB2
I140 Mailed Date
:
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
Compare
Join Date: May 2006
Posts: 330
ramaonline has a reputation beyond repute ramaonline has a reputation beyond repute ramaonline has a reputation beyond repute ramaonline has a reputation beyond repute ramaonline has a reputation beyond repute ramaonline has a reputation beyond repute ramaonline has a reputation beyond repute ramaonline has a reputation beyond repute ramaonline has a reputation beyond repute ramaonline has a reputation beyond repute ramaonline has a reputation beyond repute
Default

Not done it before but the process is simple if repatriating from NRE / NRO accounts

For NRO accounts, you need to get a CA certificate

ICICI Bank Outward Remittance: Send money to your loved ones abroad
__________________
This is not legal advice
Total Contributions to date:: over $750
PD Oct 2006/EB2/India
I140 approval Oct 2006
I485 filed Jul 2 07
I485 approved on Jul 25 2011
Received green cards on Jul 28 2011
Bookmark and Share Compare Reply With Quote


1 out of 1 members found this post helpful.
  #4  
Old 08-15-2013, 10:29 AM
imh1b imh1b is offline
Senior Member
Priority Date
:
Nov-05
Category
:
EB3
I140 Mailed Date
:
04/17/2006
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
07/02/2007
Compare
Join Date: Aug 2009
Posts: 870
imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute imh1b has a reputation beyond repute
Default

Quote:
Originally Posted by ramaonline View Post
Not done it before but the process is simple if repatriating from NRE / NRO accounts

For NRO accounts, you need to get a CA certificate

ICICI Bank Outward Remittance: Send money to your loved ones abroad
Not everyone opens NRE/NRO accounts. Its not good too. The interest rates are low and not useful to transfer big amounts.

What if you sell a property in India and want that big amount to USA?
It is simply impossible. Now with new restrictions there will be more problems. Governments likes NRIs sending dollars to India and the process is easy. But anytime some dollars go out of the country, they frown. So all those of us who are investing a lot in India and happy that money there is growing faster, will have it hard to bring that money back in USA.

if any of us become citizens in USA and we have old bank accounts in India with money we want here. It is not easy. As a citizen I have heard you should not be operating those account. You should be opening NRE/NRO accounts instead. Tax issues are another problem if you become settled here and earn money outside the country. It is another discussion people are completely unaware.
Bookmark and Share Compare Reply With Quote


1 out of 1 members found this post helpful.
  #5  
Old 08-15-2013, 01:12 PM
snthampi snthampi is offline
Senior Member
Priority Date
:
May-04
Category
:
EB3
I140 Mailed Date
:
Chargeability
:
India
Processing Stage
:
I-485
I485 Mailed Date
:
Compare
Join Date: Oct 2006
Posts: 144
snthampi has a reputation beyond repute snthampi has a reputation beyond repute snthampi has a reputation beyond repute snthampi has a reputation beyond repute snthampi has a reputation beyond repute snthampi has a reputation beyond repute snthampi has a reputation beyond repute snthampi has a reputation beyond repute snthampi has a reputation beyond repute snthampi has a reputation beyond repute snthampi has a reputation beyond repute
Default

It is funny that politicians are able to take billions and billions of Rupees and stash it in foreign banks, but common people have stricter limits. By the way, why the hell the govt should have any right to tell me where I can send/transfer my money, especially it is legally earned and taxed money and I am not sending to some banned entity?
__________________
snt
Bookmark and Share Compare Reply With Quote


  #6  
Old 08-15-2013, 04:07 PM
katta katta is offline
Senior Member
Priority Date
:
N/A
Category
:
EB2
I140 Mailed Date
:
Chargeability
:
India
Processing Stage
:
Labor Certification
I485 Mailed Date
:
Compare
Join Date: Jan 2011
Posts: 143
katta has a reputation beyond repute katta has a reputation beyond repute katta has a reputation beyond repute katta has a reputation beyond repute katta has a reputation beyond repute katta has a reputation beyond repute katta has a reputation beyond repute katta has a reputation beyond repute katta has a reputation beyond repute katta has a reputation beyond repute katta has a reputation beyond repute
Default

Quote:
Originally Posted by snthampi View Post
It is funny that politicians are able to take billions and billions of Rupees and stash it in foreign banks, but common people have stricter limits. By the way, why the hell the govt should have any right to tell me where I can send/transfer my money, especially it is legally earned and taxed money and I am not sending to some banned entity?
I agree with you that RBI should not restrict. They are happy to welcome $ but frown if you take ur money back in $.

INR is managed ie it's value is some what based on free market but not completely based on free market. RBI puts restrictions to curb speculations like crude oil and other thing is INR is not strong. Rather than making Indian market strong Indian Govt controls the INR value with these restrictions.

Everyone is saying money is growing fast India but there is no real economic value generated like engineering products like US or Germany or manufacturing like China. Its all service and the value appreciation is just transaction between people. Indian market will make correction ie bubble burst.
Bookmark and Share Compare Reply With Quote


Reply

Bookmarks


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Rupee crossed 50 mark against dollar Refugee_New Retrogression, priority dates and Visa bulletins 39 11-03-2008 01:36 PM
One Canadian Dollar = US Dollar immi_2006 News articles and reports 27 10-01-2007 11:12 PM



All times are GMT -4. The time now is 08:27 PM.


Powered by vBulletin® Version 3.7.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.0 (Unregistered)
(c)ImmigrationVoice.org