#NRIs

GIFT City is short for Gujarat International Finance Tec-City. Situated close to Ahmedabad, GIFT City facilitates all financial transactions in India using foreign currency (not Indian rupees). Though it is located within India, it is considered a jurisdiction separate from the rest of India. You might wonder what the use of GIFT City is. Countries […]

The query has been answered by Anjali Malhotra, Partner- Regulatory, Nangia Andersen India. Individuals residing outside India, such as Non-Resident Indians (NRIs), Persons of Indian Origin (PIO), or Foreign Nationals, have to take into consideration the requirements & conditions laid down by the Reserve Bank of India (RBI) and the Foreign Exchange Management Act (FEMA) […]