Remittance is the amount of money that an Indian receives as a form of payment, gift, or grant from abroad, and vice versa. We work with outward remittances as it only means when and the individual receives money from abroad.
Any amount sent or received as a form of payment or a gift/ grant is a remittance. Outward remittance is when an Indian sends money to a foreign party as a form of payment or gift/grant excluding Nepal and Bhutan, (as mentioned in FEMA, 1999).
To give sufficient foreign exchange services and effective client assistance, the Reserve Bank has chosen to allow licenses to specific dealers by approving them as Authorized Dealer – Category II to attempt a scope of none trade current account transactions. Likewise, Authorized Dealer – Category II are approved to deliver/dispatch foreign exchange for the following none trade current account transactions :
(a) Private visits,
(b) Remittance by tour administrators/travel agents to overseas agent/ principles/ hotels/inns,
(c) Business travel,
(d) Fee for cooperation in worldwide meetings and specialised training,
(e) Remittance for cooperation in global events/ competitions (towards training, sponsorship, and prize cash),
(f) Film shooting,
(g) Medical treatment abroad,
(h) Disbursement of crew wages,
(I) foreign education,
(j) Remittance under educational tie-up arrangements with foreign universities and colleges,
(k) Remittance towards charges for assessments held in India and abroad and extra score sheets for GRE, TOEFL, and so forth
(l) Employment and training, assessment fees for abroad employment forms,
(m) Emigration and emigration consultancy charges,
(n) Skills/qualification assessment of expenses for expecting migrants,
(o) Visa fees,
(p) Processing fees for the registration of documents as needed by the Portuguese and/or different Governments,
(q) Registration/ membership/ subscription fees for International Organizations
Our Trusted Partners
Why choose us
Whenever we talk about foreign exchange, certain questions arise in our minds like, would the transaction be safe? Am I getting the current rates? Is the service provider qualified enough?
Let us give you a morale booster, YES, we are good at what we do. We have been running our business for more than 10 years and during that time we have gathered a qualified team who only emphasize the quality of the service.
All the factor payments and transfer payments are secure. We use high-quality secured transaction support which is end-to-end encrypted. This makes the transaction unhackable.
Along with that, we provide all the assistance that you need during and after the foreign exchange services. Customer Satisfaction is TCI Forex’s utmost objective.
A trade partner you can rely on
Quality over quantity services.
Transparency in our work
Relatively Cheaper Prices.
Daily market outlook.
What People Are Saying
Experts from TCI Forex provide great insights into the exchange market. They provide excellent assistance and explain the market complexity with such simplicity. I can vouch for TCI Forex that the services that they provide are of premium quality.
I appreciate that their team answers all my queries despite having a busy schedule. My company experienced considerable growth while working with TCI Forex. I can vouch for them. It is definitely one of the best Forex Service Providers in the market.
Track my daily growth. Before and after services. TCI Forex has a better understanding of the magnet. The best part of their services is that they are specially designed for my requirements.
TCI Forex is the best. Because of their help, my student loan was sanctioned rather easily. And my tuition fees and hostel fees were paid without any difficulty. The transactions were safe and secure. Thank you TCI Forex.