Global Diversification through LRS

LRS permits capital account transactions for specified overseas investments, thus allowing resident individuals to diversify their investment portfolio abroad in global assets and currencies. Resident individuals can remit funds abroad for the following capital account transactions -

• Opening of foreign currency account abroad with a bank – Remit funds to a bank overseas to open foreign currency account/deposit.
• Making investments abroad – Remit funds to your overseas bank account or financial institute for permitted investments. This includes – Acquisition and holding of shares, debt instruments, mutual funds, venture capital funds, unrated debt securities, promissory notes, global equity, bonds, structured products, etc. in foreign currencies.
• Purchase of property abroad: Remit funds abroad to your account or the seller’s account for purchase of property abroad.