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Top 3 Money Transfer Providers for UAE to India

Provider Amount Received Fee Exchange Rate Speed
WorldFirst WorldFirst INR 199,195.04 No Fee 19.9195 1-3 days more...
Moneycorp Moneycorp INR 195,851.76 No Fee 19.5852 1-3 days more...
Global Reach (formerly FC Exchange) Global Reach (formerly FC Exchange) INR 197,451.78 47.50AED 19.7452 1-3 days more...
FXcompared Country Guides
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UAE
The United Arab Emirates (UAE) has a dense network of both domestic and foreign bank branches, which makes overseas money transfers to the UAE and transferring money from the UAE relatively simple Read More
INDIA
There are few restrictions on transferring money to India, but the Reserve Bank of India (RBI) has begun enforcing an existing Foreign Exchange Management Act (FEMA) article that prohibits rupees from being taken out of India Read More
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Send money from UAE to India

Top 5 Money Transfer Providers

Latest prices for transferring money from UAE to India
Exchange Rates as of 20 September 2020, 23:00

WorldFirst

Est. 2004

Transparency and security | Great customer feedback rating from Feefo

More InfoLess Info
Amount Received
INR 199,195.04
AED 408.97
saved vs. banks

Moneycorp

Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

More InfoLess Info
Amount Received
INR 195,851.76
AED 241.97
saved vs. banks

Global Reach (formerly FC Exchange)

Est. 2005

Great rates | One-off payments | Regular transfers | E-Money Institution | No fees for FXcompared customers

More InfoLess Info
Amount Received
INR 197,451.78
AED 321.90
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
More InfoLess Info
Amount Received
INR 196,724.70
AED 285.58
saved vs. banks

RationalFX

Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
More InfoLess Info
Amount Received
INR 196,818.37
AED 290.26
saved vs. banks

How to Transfer Money from UAE to India

What is in this guide

UAE to India Guide

Summary

The Emirate dirham (AED) is freely convertible to Indian rupees, and there are no specific money transfer restrictions when sending money from Dubai to India. As many people from India work in Dubai, this is a very popular money transfer corridor. The reasons and the amount of money transferred to India may lead to gift taxes or additional paperwork.

Regulations for sending money from Dubai to India

If you are sending money from Dubai to India, your transfer may be treated differently depending on whether or not you are an Indian national and the reason for your transfer.

Banks in India that receive a money transfer often ask for the reason for the transfer, such as family medical bills or family maintenance. Recipients of the money transfer sent by people who are non-citizens of India are not required to pay gift tax on the money they receive. In addition, non-citizens of India do not have to pay for the charges in any income tax set by the Indian Revenue. However, the rules can differ with regard to citizens of India with the status of RNOR or NRI who are holding Student (F), temporary work (H), and tourist (J) visas.

When sending money to India, any amount over 50,000 rupees will have to be declared by the person receiving it as income. They will then have to pay tax on what you send. The only time that they do not have to declare it is if they are a family member. If the person who receives the money fails to declare the money they received, then they can be subject to a fine of up to twice the original tax owed on the amount. The tax for the money would still be owed on top of the fine. The only time that gifts are not taxed for people who are not relatives is for wedding gifts.

There are many alternatives for sending money to India from traditional bank-to-bank to Western Union Dubai and MoneyGram Dubai. These are popular with the large number of less-skilled manual workers who move to the country from India and Pakistan. For higher-earning professionals sending larger funds to India, we recommend using a specialist money transfer broker.

Sending money to family

Any money transfer from Dubai to India received by parents is not treated as income but as a gift. In addition, India has no gift tax for any relations, and there is no limit on the amount that the sender can send to their family in the country. For instance, gifting international money to India from Dubai between father and son or vice versa does not have tax implications and limits.

Sending money for property purchases or other reasons

If the money sent to India is used for a specific purpose such as buying a property, the sender must acquire a Certificate of Inward Remittance from the bank in India where the money will be transferred. This is recommended for money transfers to India through banks as the Certificate of Inward Remittance certifies that the credit entry was accumulated from the transfer of money from Dubai to India. If ever the Indian tax authorities question the origins of large received sums, the Certificate of Inward Remittance will be a crucial document to have.

Indians in Dubai

Dubai has long been a popular destination for Indians working abroad. Traditionally, the largest numbers have sought work in manual and unskilled sectors such construction, transport or retail. A significant number of Dubai’s expat professionals, however, come from India, working in banking and finance. As Dubai’s economy has broadened, the number of professionals from India finding jobs in sectors such as technology and media has risen.

Frequently Asked Questions

Are the money transfer companies shown above safe to use?

Yes, all the companies are safe and fully-regulated money transfer services. Each are authorised and regulated by the relevant authority such as the Financial Conduct Authority(FCA) in the UK, FinCEN in the US, FinTRAC in Canada or ASIC in Australia.

How long does an international money transfer take?

The speed of delivery will depend on where the money is being from and to and how you are sending and receiving the money. Transfers sent using bank to bank transfers can depend take anywhere from minutes to days and you should check the time estimates from the relevant provider. Debit and credit card payments sometimes allow for faster transfers for smaller amounts.

How do I use FXcompared?

First review the comparison results (such as for a table above) for a given amount of money sending from UAE to India. Then select a provider based on factors such as price, speed, their rating and click the green button to be taken to their website. From there, you can register and sign up for an account. Once you have done that and the provider has verified your identity to ensure the money can be send safely, you will be ready to transfer money.

What payments methods can I use to send money overseas?

The results shown above are typically for bank to bank transfers. It is possible via some providers to pay in your funds for the transfer via cash, debit or credit cards as well but this is usually reserved for smaller amounts. Some providers also give you different options for how the money will be received - to a bank account (most common), to a debit card, to cash or to a digital or mobile wallet.

What if the price shown above isn’t exactly what I am offered when I try to transfer money?

There can be a number of reasons why the final price you are offered may be different to that shown in the table above. Exchange rates between two currencies change all the time and is the most common reason. Additionally, some providers offer different pricing depending what method you are using to send funds or how the funds will be received. Others may offer you a premium service for faster payments. In some cases FXcompared has a special rate with a provider and this is reserved for first time customers who sign up to the provider starting from FXcompared’s website. As prices do change often, be sure to confirm the total cost with the provider before transferring money.

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All the providers listed are regulated by the relevant authority (e.g. the FCA in the UK, FinCEN in the US, ASIC in Australia) and have been vetted by FXcompared.

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.