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Top 3 Money Transfer Providers for UAE to India

Provider Amount To Send Fee Exchange Rate Speed
Corpay^ Corpay^ AED 10,000.00 46.59AED 22.264 1-3 days more...
Smart Currency Exchange Smart Currency Exchange AED 10,000.00 23.30AED 22.181 1-3 days more...
Moneycorp Moneycorp AED 10,000.00 No Fee 21.9304 1-3 days more...
FXcompared Country Guides
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 Read More
 

Send money from UAE to India

Top 3 Money Transfer Providers

Latest prices for transferring money from UAE to India
Exchange Rates as of 23 February 2024, 13:32

Corpay^

Est. 2005

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

More InfoLess Info
FXcompared Rating
Amount Received
INR 222,640.43
AED 322.80
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 221,810.38
AED 286.02
saved vs. banks

Moneycorp

Est. 1979

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

More InfoLess Info
Amount Received
INR 219,303.74
AED 174.97
saved vs. banks

How to Transfer Money from UAE to India

UAE to India Guide

Summary

The United Arab Emirate dirham (AED) is freely convertible to Indian rupees (INR), 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. With the population of Indian nationals in the UAE standing at 2.8 million in 2023, there is a clear need for suitable money transfer services for Dubai to India.

There are many reasons that you could be looking to make a payment from AED to INR, and the reasons and the amount of money transferred to India may lead to gift taxes or additional paperwork, so do your research before making any payments.

AED and INR

The AED has been in circulation since 1973, remaining a stable currency that has been pegged to the US dollar for decades. The most popular currency exchange for the dirham is with INR, and there are many money transfer services that will allow you to make transfers from dirham to rupees.

Historically the INR dates back hundreds of years, and despite previously being pegged to the GBP and USD, it is now a floating currency. It is a heavily regulated currency, so there are rules for taking INR outside of India. Tourists are not allowed to enter or leave the country with INR, so be sure to spend the money you have while in the country if you are a non-Indian resident.

Trade between UAE and India

The UAE and India have a strong relationship when it comes to trade, with bilateral trade amounting to $84.5bn from April 2022 to March 2023. Main exports from India include fuels, metals, precious stones, while exports from the UAE include coins, nickel, and plastics.

With the two countries being significant to one another’s economies as well as imports, it makes sense that many people and companies are moving between countries, as well as money.

Banking and money

There are many public and private sector banks in India, and there are options for opening an account for both residents and non-residents, although for non residents you must fall into the category of either a Non-Resident Indian (NRI), Person Of Indian Origin (PIOs) or Overseas Citizens of India (OCIs). For an account as a resident, you will need documentation to prove your residency as well as identification.

For banking in Dubai there are a lot of options for you to sign up with. Non-residents that are visiting the UAE or do not yet have a residence visa can still open a savings account with most banks.

If you are planning on moving to Dubai or India, you’ll need a bank account to make everyday spending, bills and property purchases easier.

While there is the option to make bank transfers from Dubai to India, you may not be getting the best exchange rate and you may also be charged additional fees. By using a money transfer provider, you can save money and have an easy method of payment for your AED to INR exchanges.

Visas

Citizens of the UAE are able to apply for an Indian eVisa for short-term stays, or for slightly longer stays a tourist or business visa may be required. For permanent residency or Indian citizenship, there are many stipulations and requirements, so do your research to find the best option.

With Dubai becoming a fast-growing hotspot for tourism and businesses increasingly moving to the popular UAE city, the desire for UAE visas is high. From employment visas to student visas, what you should apply for will depend on your needs and eligibility. There is also the Golden Visa, which allows you to work, study, and live in the UAE, but you will have to meet the criteria to be granted one.

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. Your money transfer from Dubai to India could be subject to tax. 

Banks in India that receive a money transfer often ask for the reason behind the transfer, such as medical bills or family maintenance.

If you send money to India as a gift, it may be subject to gift tax. The amount of money or value of goods received is important, as if the value exceeds Rs.50,000, they may have to pay tax. Gifts received by relatives in general, during weddings, or for inheritance are usually exempt from taxation, so sending money to family in India should not be an issue.

Regulations surrounding gift tax come from the Government of India’s Ministry of Finance. Make sure to keep updated with gift tax in India, as if the person who receives the money fails to declare the money they received, then they can be subject to a fine.

A common question is whether money transferred from Dubai to India is taxable. Non-citizens of India do not have to pay for the charges in any income tax for money earned outside of the country, but will be taxed for income earned in India. It is necessary to check whether you are treated as a resident for tax purposes, as staying in the country for a certain period of time may make you eligible to be taxed. The rules can differ with regard to citizens of India with the status of RNOR or NRI who are holding Student, temporary work, and tourist visas.

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 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 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 in case the transfer is flagged as suspicious.

Note that to purchase property in India as a foreign national of non-Indian origin, the residency requirement must be met.

If you need to make a Dubai to India money transfer but are unsure which provider to use, our comparison tool for global money transfer companies can help. By comparing the best providers in one place, you’ll get your money where it needs to go quickly, securely and without needing to pay unnecessary fees.

There may be Dubai to India money transfer charges depending on which provider you use or if you go through banking, so comparing providers has advantages.

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.