Repatriation Guide: How to Bring Money Safely Back to India

Last week, Priya called us from Dubai and told us:

"I sold my Mumbai flat. The money's sitting in my NRO account. My bank says I need Form 15CB. My CA says file ITR first. I'm confused."

She's not alone.

Repatriation sounds simple. Move money from India to your overseas account. But the moment you try, you discover a maze of forms, tax certificates, and limits nobody told you about.

We have helped hundreds of NRIs move money across borders. The rules are clear once you understand which account you're moving from.

This guide tells you exactly how to repatriate funds safely, legally, and without delays.

What Repatriation Actually Means

Repatriation is transferring money from your Indian bank account to your foreign bank account, converting rupees to foreign currency in the process.

Both principal and interest can be repatriated, depending on your account type.

The confusion starts because different accounts have different rules. What works for an NRE account won't work for an NRO account.

👉 Tip: Your account type determines everything - repatriation limits, tax treatment, and documentation. Check your account type before you start.

Repatriation Limits by Account Type

NRE Accounts: Unlimited Freedom

Your NRE account holds foreign earnings - salary from abroad, overseas business income, investment returns.

Repatriation limit: Unlimited. Fully repatriable.

Both principal and interest earned are fully and freely repatriable without restrictions. No forms. No tax certificates. No waiting.

Documents needed:

Request application to bank
Form A2 (FEMA declaration form)
Passport copy

That's it. The entire process takes 2-3 business days.

Why it's simple: NRE funds are already post-tax from foreign sources, and interest earned is tax-free in India. The government has no reason to restrict movement.

Learn more about NRE account benefits.

FCNR Accounts: Foreign Currency Protection

FCNR accounts hold fixed deposits in foreign currencies - USD, GBP, EUR.

Repatriation limit: Unlimited. Fully repatriable.

Both principal and interest can be repatriated without any ceiling limits or tax implications.

Documents needed:

Request application
Form A2
Passport copy

The advantage? You avoid rupee conversion twice. Money stays in foreign currency throughout.

Also Read - Top Banks Offering the Highest FCNR Deposit Rates

👉 Tip: If you're planning to repatriate large amounts, park funds in FCNR deposits first. You protect against rupee depreciation while earning interest.

NRO Accounts: The Complex One

Your NRO account holds Indian income - rental income, dividends, pensions, salary earned in India, or proceeds from selling Indian assets.

Repatriation limit: USD 1 million per financial year.

This is where most people hit problems.

The USD 1 million limit includes:

Principal amount
Interest earned
Rental income
Dividends
Proceeds from selling property or investments

Documents needed:

Form 15CA (self-declaration)
Form 15CB (CA certificate verifying tax payment)
Form A2 (remittance declaration)
Passport copy with visa/residence permit
Bank statements
Tax payment proof
ITR acknowledgment

Processing time: 7-15 business days (if all documents are correct).

Important: The limit resets every April 1. If you need to repatriate USD 1.2 million, split it across financial years.

Detailed breakdown in our NRO account guide.

The Documentation Process (Step-by-Step)

For NRE/FCNR Accounts (Simple Path)

Step 1: Submit repatriation request to your bank (online or branch)

Step 2: Fill Form A2 declaring:

Purpose of remittance
Amount
Destination account details

Step 3: Attach passport copy

Step 4: Bank processes within 2-3 days

Step 5: Funds credited to your overseas account

For NRO Accounts (Complex Path)

Step 1: File your ITR if not already filed

You cannot get Form 15CB without filing your ITR showing the income. Don't wait until July 31 deadline if you need to repatriate soon.

Step 2: Calculate your tax liability

If you're selling property, capital gains tax applies. If you're repatriating rental income, it's already taxed via TDS but you need to file returns.

Step 3: Get Form 15CB from your CA

Your chartered accountant verifies:

Income source is legitimate
Applicable taxes have been paid
Repatriation complies with FEMA rules

Cost: ₹2,000-5,000 depending on complexity.

Step 4: Fill Form 15CA yourself

This is a self-declaration on the income tax e-filing portal stating:

Nature of remittance
Amount
Tax paid

Step 5: Submit all documents to bank:

Forms 15CA and 15CB
Form A2
Passport and visa copy
ITR acknowledgment
Tax payment challans
Source documents (sale deed, rental agreement, etc.)

Step 6: Bank verifies and processes

Timeline: 7-15 business days if everything is in order. One missing document restarts the clock.

👉 Tip: Start the documentation process at least 30 days before you need the money. Last-minute rushes lead to mistakes and delays.

Also Read -How to Repatriate Funds from NRO/NRE Accounts

Tax Implications (What You Actually Pay)

NRE Account Repatriation

Tax in India: Zero. Interest earned is tax-free. Repatriation has no tax implications.

Tax abroad: Depends on your country of residence. Declare as per local laws.

FCNR Account Repatriation

Tax in India: Zero on interest and repatriation.

Tax abroad: Declare as per local laws.

NRO Account Repatriation

Tax in India: Interest taxed at 30% TDS (or slab rates when you file ITR).

For capital gains from property:

Short-term (held less than 2 years): Taxed at slab rate upto 30%
Long-term (held more than 2 years): 12.5% without indexation benefit

Tax abroad: Depends on your country. Use DTAA benefits to avoid double taxation.

TCS on Remittance: As per Section 206C(1G), no TCS applies when NRIs transfer money from NRO to NRE accounts or overseas. But verify with your bank on current rates.

Also Read -Tax Rules on NRI Accounts Explained

Common Repatriation Mistakes (Avoid These)

Mistake 1: Assuming Unlimited Repatriation from NRO

Many believe all NRI accounts are fully repatriable. NRO accounts have a strict USD 1 million annual limit.

If you sold property for ₹10 crore, you can't repatriate it all in one year.

Mistake 2: Forgetting the Limit Resets April 1

Amit tried to repatriate USD 1.2 million in March 2025. Sent USD 1 million. Tried sending USD 200,000 in April 2025. Bank rejected - his FY 2024-25 limit was exhausted. He waited until April 2026.

Solution: Plan repatriations across financial years if needed.

Mistake 3: Not Filing ITR Before Repatriation

CAs won't issue Form 15CB without your ITR filed. File immediately after the financial year ends if you plan to repatriate soon.

Mistake 4: Mixing Account Types

Funds from sale of property bought with NRE funds have different repatriation rules than property bought with Indian rupees.

Understand the source of your original investment.

Mistake 5: Repatriating to Someone Else's Account

NRE funds can only be repatriated to your own foreign account. You can't directly send to a family member's account abroad.

Solution: Transfer to your account first, then send onwards.

Mistake 6: Ignoring Property Sale Limits

Only sale proceeds from two residential properties bought with NRE/FCNR funds can be freely repatriated in your lifetime. Additional properties face the USD 1 million NRO limit.

Mistake 7: Poor Documentation

One missing signature, one expired document, one incorrect form - and your repatriation gets rejected. You start over.

Use our Compliance Compass to check all requirements.

Also Read -Common Mistakes NRIs Make While Choosing an NRE Banking Account

Smart Repatriation Strategies

Strategy 1: Use GIFT City for Future Investments

Instead of parking funds in NRE FDs that get complicated when you return to India, invest in GIFT City USD fixed deposits.

Benefits:

Tax-free returns for all residents (not just NRIs)
Full repatriation anytime
USD-denominated (rupee depreciation protection)
No conversion to resident accounts needed

Belong offers 6.0% annual returns on GIFT City FDs with:

Zero tax on interest
Digital KYC
Doorstep documentation

Compare rates: NRI FD Rate Comparison Tool.

Strategy 2: Plan Multi-Year Repatriations

If you have more than USD 1 million to repatriate from NRO accounts, structure it across financial years:

FY 2024-25: USD 1 million
FY 2025-26: USD 1 million
FY 2026-27: Balance

Strategy 3: Optimize Tax with DTAA

If you paid tax abroad on the same income, claim relief under Double Taxation Avoidance Agreements to reduce your Indian tax liability.

Strategy 4: Keep Clean Records

Maintain:

All remittance receipts
ITR acknowledgments
Bank statements
Property documents
Investment proofs

You'll need them for future repatriations and tax filings.

Timeline: How Long Does Repatriation Take?

NRE/FCNR accounts: 2-3 business days

NRO accounts (with all documents ready): 7-15 business days

NRO accounts (missing documents/ITR not filed): 30-60 days

Property sale proceeds (complex cases): 60-90 days

Above USD 1 million (requiring RBI approval): 90-180 days

👉 Tip: Start early. Don't book flight tickets abroad assuming money will be in your account by a certain date.

When You Need RBI Approval

Repatriations exceeding USD 1 million per year from NRO accounts require special RBI permission.

The RBI reviews on a case-by-case basis considering:

Source of funds
Tax compliance
Legitimate purpose
Your NRI status history

Success rate is high if you have proper documentation, but plan 3-6 months for approval.

The Belong Advantage

We've streamlined repatriation for our clients through:

Clear guidance on which account type to use
Documentation checklists specific to your situation
CA network for Form 15CB at competitive rates
GIFT City investments that avoid repatriation complications
WhatsApp community where NRIs share real experiences

Join Belong's WhatsApp Community to ask questions and get answers from people who've just completed repatriations.

Download the Belong app for personalized guidance.

Quick Checklist

Before starting repatriation:

Know your account type (NRE/NRO/FCNR) Check annual limits (unlimited vs USD 1 million)
File ITR if repatriating from NRO
Gather all source documents
Get Form 15CB from CA (for NRO)
Fill Form 15CA online
Prepare Form A2 declaration
Update passport and visa copies
Verify foreign account details
Plan timing (financial year limits)