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Legality of forex trading in India
09-Jul-2023 (In Banking / Finance Law)
Its illegal to trade forex market in india except 3 pair. If I transfer my Indian rupees to a european bank account and then trade forex and transfer the profits back after sometime. Is it legal?
There is a prescribed limit under FEMA laws to invest in foreign countries. The limit prescribed in case of Individuals and Corporate are different. Also there are restrictions prescribed under FEMA laws wherein an Indian resident cannot deal into certain types of business. For details you need to contact me.
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Adv. Bankim Mehta
Mumbai | 200+ Answers
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