Dubai real estate deals hit regulatory hurdle! Indian buyers who bought homes using international credit cards in a soup; here’s why
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Indian property buyers in Dubai face regulatory scrutiny for using international credit cards (ICCs) for property purchases, a practice that circumvents established remittance channels. While not explicitly prohibited, this method clashes with RBI guidelines for capital account transactions. Investors are now seeking to rectify the situation through the Liberalised Remittance Scheme (LRS) to avoid penalties. What's Your Reaction?
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