What is LRS?

The Liberalized Remittance Scheme (LRS), of RBI allows Indian resident individuals to remit up to USD 250,000 per financial year to another country for investments and expenditure.

This limit is per individual, including minors, which means that a family of 4 can remit up to USD 1 million per financial year. This quota includes any investments like US securities, real estate, bank deposits, etc., and all expenses like foreign travel and student education.