Business Travel

As per the Reserve Bank of India guidelines the Business traveller can avail of foreign currency notes, travellers cheques and prepaid travel currency cards up to USD 25,000/- per business trip in a variety of currencies.

Reserve Bank of India statutes

Eligibility

• Employees sponsored by firms/companies/organizations in India
• Journalists deputed on short-term assignments abroad by newspaper companies
• Self-employed professionals going abroad for professional visits
• Participation in international conferences/seminars
• Specialized training/study tour sponsored by institutions or undertaken by professionals

Quantum of Exchange

• Avail up to a maximum of USD 25,000 per trip (maximum of 8 trips in a financial year) or its equivalent irrespective of period of stay.
• Currency component maximum of USD 3000 equivalent per visit

Documents

One time documentation

• Copy of partnership deed / Memorandum & Articles of Association / Certificate of Incorporation depending on constitution of business entity
• Copy of Shop & Establishment license / VAT registration / Service Tax Registration etc of the entity availing foreign exchange
• Authorization letter - Format available with Dhoshi Forex
• Copy of valid photo Ids of authorized signatories as mentioned in the authorization letter

Transaction Documents

• Letter from the corporate on company letterhead signed and stamped by authorized signatory of the company
• In case of travel for a Conference / Seminar, the brochure giving full particulars of the Conference / Seminar should be submitted along with the application
• In case of travel related to training / study tours, details of training/study tour along with letter from the overseas institution agreeing to provide necessary facilities for the training and certifying that the expenses are being borne by the organization