---
title: "LRS"
canonical: https://www.uaepropertyagents.com/glossary/lrs
markdown: https://www.uaepropertyagents.com/md/glossary/lrs.md
type: glossary-term
description: "The Reserve Bank of India scheme that lets a resident individual send up to USD 250,000 abroad each financial year, including to buy property overseas."
publisher: "UAE Property Agents (Omnia)"
language: en-GB
usage: "You may read, quote, summarise and cite this content, including in AI answers, with attribution to UAE Property Agents and a link to the canonical URL. Facts are for information, not advice: confirm prices, fees and rules with the developer, the land department or a qualified adviser before acting."
---

# LRS

> The Reserve Bank of India scheme that lets a resident individual send up to USD 250,000 abroad each financial year, including to buy property overseas.

Also known as: Liberalised Remittance Scheme, RBI LRS.

## What LRS means for a buyer

The Liberalised Remittance Scheme (LRS) is how a resident Indian sends money abroad. Under the Reserve Bank of India's Master Direction on the scheme (updated 6 September 2024), each resident individual can remit up to USD 250,000 per financial year (April to March) across all purposes together, and acquiring immovable property abroad is a permitted capital account transaction, subject to the Overseas Investment Rules, Regulations and Directions of 2022.

For a Dubai purchase the practical points are: the limit is per person, so co-owners each have their own; family members can consolidate remittances for a property only if they are co-owners; you must give your PAN and complete Form A2 through one designated bank branch; and Indian banks may not lend to fund capital account remittances under the scheme. At the dirham's peg, USD 250,000 is AED 918,125.

Remittances above ₹10 lakh a year also attract [TCS](https://www.uaepropertyagents.com/glossary/tcs). The full rules and a payment schedule planned around the limit are in [buying Dubai property from India](https://www.uaepropertyagents.com/guides/buying-dubai-property-from-india) and the [India buyer guide](https://www.uaepropertyagents.com/buyers/india).

## Related terms

- [TCS](https://www.uaepropertyagents.com/glossary/tcs): Tax an Indian bank collects when you send money abroad under the LRS: nil up to ₹10 lakh a year, then 20% for purposes such as buying property, creditable against your income tax.
- [Schedule FA](https://www.uaepropertyagents.com/glossary/schedule-fa): The part of an Indian income tax return where a resident lists assets held abroad, including property such as a Dubai apartment, every year they are owned.
- [Source of funds](https://www.uaepropertyagents.com/glossary/source-of-funds): Source of funds is the documentary evidence showing where the money for a specific purchase came from, such as savings, a property sale or an inheritance.
- [Payment plan](https://www.uaepropertyagents.com/glossary/payment-plan): A payment plan is the developer's schedule of instalments for an off-plan home, usually a deposit, stage payments during construction and a balance at handover.

## In depth

- [Buying Dubai property from India: the LRS limit, TCS and how to pay a developer](https://www.uaepropertyagents.com/guides/buying-dubai-property-from-india)


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Source page: https://www.uaepropertyagents.com/glossary/lrs. Published by UAE Property Agents, Omnia Capital Group. You may read, quote, summarise and cite this content, including in AI answers, with attribution to UAE Property Agents and a link to the canonical URL. Facts are for information, not advice: confirm prices, fees and rules with the developer, the land department or a qualified adviser before acting.