- Rental Income: Rent receipts / Rent Agreement
- Dividend: Dividend Warrant / Intimation / Entry in bank statement showing receipt is on account of dividend
- Interest: Statement of Bank (if other than ICICI Bank Ltd.). If interest is on other securities, interest warrants or Bank statement clearly showing receipt is on account of interest.
In each of the above cases, if Form 16A (TDS Certificate) is submitted mentioning the source of funds, this may also be accepted.
* Remittance amount should be in line the source of income and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
- Copy of the registered sale deed for sale of property
- Copy of the registered purchase deed for acquisition of property
- Property acquisition declaration in prescribed format.
* If the documents provided are in a language other than English or Hindi, the translated copy of the same duly attested by a notary public or an authorized translator is also required to be obtained.
* There is no requirement for holding the property for any minimum period.
* If the property purchased and sold is agricultural land / plantation / farmhouse, then proof of RBI approval for such purchase would be required. However if the property was acquired while the customer was a resident, no RBI approval is required.
* This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan. Such persons are required to obtained RBI approval in order to repatriate the funds.
*Remittance amount should be in line with the sale and purchase deed of property and same should be reflect into the customer’s bank statement clearly.
* Remittance amount should be in line with the sale and purchase deed of property and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
- Valid documentary evidence for cancellation of the deal like cancellation agreement or correspondence between the parties etc.
- If the remitter has assigned the rights to another person, copy of tri-partite agreement between the seller, remitter and such third party
- Receipt from builder (at the time of purchase)
- FIRS for funds remitted from abroad(Not required if the remittance is processed through ICICI Bank)5. Bank statement showing the debits for payment for the property (for payments from NRE / FCNR accounts).
* If the documents provided are in a language other than English or Hindi, the translated copy of the same duly attested by a notary public or an authorized translator is also required to be obtained.
* This facility is not available to citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal and Bhutan. Such persons are required to obtained RBI approval in order to repatriate the funds.
* Remittance amount should be in line with the agreement/receipt of property and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
- Documentary evidence in support of the acquisition of the assets proposed to be remitted:
- FD : FD receipt / Bank statement
- PPF Balances : PPF passbook
- Insurance claim / maturity : Letter or warrant from the Insurance company
- Maturity of Debentures / Bonds : Copy of the certificate / Demat statement / letter from issuing company
- Maturity / claim proceeds of Insurance policy : Copy of the policy document or advice from Insurer regarding maturity / claim
- Above list is illustrative. Broadly, for any sale of assets, documentary proof of the sale is required.
- In case of FD's, the prior source of funds out of which the FD was created needs to be examined and would require additional documents. However, for proceeds received as NRO FD closure from another Bank in India coming directly into NRO account of ICICI Bank, the same is not required.
- In case of assets acquired by inheritance or legacy, in addition to the respective document mentioned above (which would be in the name of the decease legator, also obtain any one of the following:
- Copy of the Will
- Death certificate of asset owner.
- Succession Certificate
- Legal Heirship Certificate
*In case the remittance is to be made in more than one installment, all such remittances should be made through the same authorized dealer.
* Facility does not extend to citizens of Pakistan, Bangladesh, Nepal and Bhutan. Such persons are required to obtain RBI approval in order to process the remittance.
* In case of death claims by non-resident heirs of account holder, documents for death claim will be required.
* Remittance amount should be in line with asset deed and same should be reflect into your bank statements clearly. Additional documents may be required to process the request.
