[quote=livinincali][quote=Jazzman][quote=livinincali]
The other potential problem is capitol controls. So you can get your money stuck over there. For example they just recently passed this capitol control.
The limit on personal remittances has been cut to $75,000 per year, from $200,000 per year.
That would mean even if you saw things changing where it was a bad investment to be in India it would take you 3 years to get your money back out. A lot can happen in 3 years.[/quote]
Unless of course you had a dollar account in India.[/quote]
You earn no interest on a dollar account in India. So it completely defeats the purpose.
[quote]
The RBI said the Resident Foreign Currency (Domestic) Account can be opened with a licensed bank which is also an authorised dealer in foreign exchange. By this criteria, most of the banks would be able to offer the dollar account facility to their clients.
Since the account will be maintained in the form of a current account, there will, of course, be no interest earned on the balance, a foreign exchange dealer explained.
[/quote][/quote]
No interest on USD anyway, but I get interest on my foreign currency accounts. You saying in India you don’t?
