What is the procedure for the repatriation of redemption proceeds?
Investments made on Repatriation basis Under the exchange control regulations general permission is granted to authorised dealers to allow repatriation of proceeds of investments made under Repatriable Schemes. The investments shall carry the right of repatriation of capital invested and capital appreciation so long as the investor continues to be a resident outside India , after payment of tax, if any. In the case of an FII, the designated branch of the authorized dealer may allow remittance of net sale/maturity proceeds (after payment of taxes) or credit the amount of sale/ maturity proceeds to the Foreign Currency account or Non-resident Rupee Account of the FII investor maintained in accordance with the approval granted to it by the RBI [Clause 5(i) of the Regulations]. In any other case, where the investment is made out of inward remittance or from funds held in NRE/FCNR account of the investor, the maturity proceeds/repurchase price of units (after payment of taxes) may be credit
