Wish to open bank account in Dubai

Wish to open bank account in Dubai - FEMA laws

I plan to start a new business in Dubai and hence wish to first open my bank account in Dubai and transfer funds under LRMS to my Dubai account to fund the new business. please advise if this is ok and in compliance with Indian FEMA laws.
I will continue to be based out of India.

Asked 4 years ago in Income Tax

Hello,

Yes, you would be compliant if it is not for any prohibited items under the Scheme.

I hope this answer satisfies your requirement.

Regards,

CA Hunny Badlani