Regulation on Individuals buying forex

Individual customer (Indian resident / Foreigner permanently residing in India) buying Forex for Private trip:

1 Foreign exchange up to US$ 250,000 is permissible in a financial year for multiple purposes including tourism or private travel to any country other than Nepal and Bhutan on the basis of self-certification under LRS. The availability of limit is considered by combining availment of foreign exchange under different purposes.
2 For purchasing, currency cash is acceptable only upto Rs. 50,000 per transaction. All purchases within 30 days shall be treated, as single transaction
3 Travelers are allowed to purchase foreign currency notes/coins only up to US$ 3000. Balance amount can be taken in the form of Prepaid Forex card
4 Documents to be submitted:
- Passport
- PAN
- Address proof such as: Telephone bill/ bank account statement/letter from recognized public authority/ electricity bill/ ration card/ Letter from employer
- Copy of Ticket
- Visa if applicable
- Self declaration cum undertaking form

Regulation on Corporates buying Forex

1 Visits for international conference, trainings, study tour, etc, are treated as business visits
2 Business customers can purchase US$250,000 for a year combined with other availment under LRS to any country other than Nepal and Bhutan
3 Travellers are allowed to purchase foreign currency notes/coins only up to US$ 3000. Balance amount can be taken in the form of Prepaid Forex card
4 Documents to be submitted:
- Passport
- Memorandum of Association (MOA)
- Company Pan Card
- Company Registration documents
- Letter from MD/CFO giving details of authorized signatories.
- Foreign Currency request letter signed by authorized person from the company

1 Unspent Indian currency held by non residents can be reconverted into forex at the time of their departure from India if they provide the encashment certificate.
2 If encashment certificate is not produced for bonafide reasons, then maximum Rs. 10,000 can be converted if the departure date is within 7 days
3 Documents to be submitted:
- Passport
- A valid Encashment Certificate
- Ticket

Trip Preparation:

1 Make sure you've got a print out of all Airline tickets (some countries require round trip ticket for entry)
2 Make sure you've got correct visas for the country you are visiting and that your passport is valid
3 Passports - check the expiration date two months before your trip
4 Get the proper Vaccinations done
5 Take a print out of Tickets, Travel and Hotel reservations, and list of other important contact numbers. Take your important documents and money in a wallet or purse that you can access at all times
6 Make sure to take Travel insurance which is valid for the entire duration of your trip
7 Take some identity proof such as Driver's license and insurance cards (leave unnecessary cards at home)
8 Take some passport size photos. You may need a photo to obtain passes, permits, etc.
9 Take enough money or foreign currency (Currency, Forex cards). Carry some cash hidden for emergency purposes
10 Take only important keys with you like - house keys. Leave unnecessary keys at home
11 Get an understanding of the weather expected at the places you are travelling to decide on appropriate clothing
12 Stop the newspaper and mail
13 Check the refrigerator and discard foods that will spoil if you are gone for several days
14 Arrange for someone to water your plants and take care of your pets
15 Make sure that luggage has a tag with your name, address, and telephone number