Published Oct 6, 2020
Liberalized Remittance Scheme (LRS) of the Reserve Bank of India (RBI) allows resident individuals to remit a certain amount of money during a financial year to another country for investment and expenditure.
Apart from this, the remitted amount can also be invested in shares, debt instruments, and immovable properties overseas. Individuals can also open, maintain and hold foreign currency accounts with banks outside India for carrying out transactions permitted under this scheme.
Eligible Investors: All resident individuals, including minors, can freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both.
Non-Eligible Investors: The scheme is not available to corporations, partnership firms, Hindu Undivided Family (HUF), Trusts etc.
Sanctum Offering for LRS Investments:
To enable you to take advantage of this opportunity and to provide a one-stop solution, we have tied up with Avestar Capital. Avestar provides end to end LRS investment solutions like account opening, investment solutions based on the risk appetite of the clients, tax advisory at the end of the financial year, etc. Avestar manages around USD 1.2 Billion under discretionary and non-discretionary mandates and has offices in New York, San Francisco, and Mumbai. Some of the key aspects of the proposition are listed below:
The products on offer include direct trading of stocks, bonds, ETFs, MFs, Real Estate etc.