Transfer money from Kuwait to India

KWD 262.81 Avg. Saving vs. Banks ?

Here are the latest prices for transferring money from Kuwait to India
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Top 5 Money Transfer Providers

Exchange Rates as of 2018-12-10T16:33:05+00:00


Est. 1979
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Amount Received
INR 2,364,032.88
KWD 266.51
saved vs. banks

Smart Currency Exchange

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Amount Received
INR 2,362,841.34
KWD 261.51
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Global Reach (formerly FC Exchange)

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Amount Received
INR 2,361,649.79
KWD 256.51
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Est. 2004
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Amount Received
INR 2,363,437.11
KWD 264.01
saved vs. banks


Est. 2005
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Amount Received
INR 2,363,794.57
KWD 265.51
saved vs. banks

How to Transfer Money from Kuwait to India


Kuwait and India have traditionally strong bilateral relations which continues to be strengthened by trade links and important migration flows between the two countries. Kuwait and India’s trade relationship dates back several centuries, and in fact, Kuwait used the rupee as its national currency until 1961. The Kuwaiti dinar (KWD) is easily convertible to the Indian rupee (INR) and there are no restrictions to transfer money from Kuwait to India.

Visa and immigration

Nationals of Kuwait must have a passport with at least six months remaining validity in order to travel to India. Applying for an Indian visa can be fairly complex, as visa requirements can be somewhat complex and there are several categories to choose from. Before applying, therefore, you must make sure that you identify the correct visa for your particular situation, which may include work visas, tourist visas, employment visas and business visas.

You must apply for the visa from the local Indian consulate or through a private visa agency before arrival. In general, visas can be processed between five and seven business days. If you intend on remaining in India for longer than 182 days you will have to get a residence permit. In order to do this you are required to register with the Foreigner’s Regional Registration Office (FRRO). Their main offices are located in Delhi, Amritsar, Kolkata and Mumbai. Outside of these cities you may register with the Superintendent of Police. For more information on obtaining a visa for India, visit the website of the Indian Consulate.

Banking and Money

India’s banking sector has expanded rapidly in the last decade, apace with economic growth. There are a variety of public, private and international banks to choose from when looking to establish a banking relationship in the country. In total, there are roughly 53,000 bank branches nationwide, with 17,000 ATM machines currently available.

Despite the fact that expats opt for internationally based banks for their familiarity, both public and private banks offer comparable service and products. However, international banks sometimes have higher service charges. The leading local banks are HDFC Bank and ICICI Bank. Global banks with a presence in India include Barclay’s, Royal Bank of Scotland, Citibank and HSBC. In addition, there are a few branches of the Bank of Bahrain and Kuwait in major Indian cities such as Delhi. Kuwaiti nationals may choose to open a bank account before travelling to India as this may make it more efficient to transfer money from Kuwait to India.

Expats from Kuwait should be able to open a non-resident savings or checking account if they are earning income in India. The benefits you receive from the particular bank you choose will vary. However, as a minimum, you may receive ATM cards, cheque books and access to telephone and internet banking. In order to open an account you will be required to provide proof of identity, copy of travel documents, proof of address in India and a copy of your Indian residency permit. Some companies may open bank accounts on behalf of their expatriate employees.

Kuwaiti nationals who want to send money home are legally allowed to transfer a maximum of US$1m for each financial year. Several remittance agencies are present, such as Western Union and MoneyGram, as well as independent forex brokers who typically offer the same service at a lower cost.


Kuwaiti nationals working and earning income in India are subject to the same taxes as Indian nationals. You will pay taxes on any income gained in India. Personal taxes can be as much as 30%. The tax year in India runs from April 1 to March 31 of the following year.

Trade with India

India remains one of Kuwait’s top ten trading partners. In turn, Kuwait is the third largest supplier of crude oil to India. Between 2013 and 2014, trade between both countries amounted to more than US$18.2bn. India’s major exports to Kuwait include textiles, garments, food items, jewellery, machinery, iron, and other mechanical and metal products.

Investment in India

Kuwaiti investments in India are one of the primary factors driving money transfers to India. Several organisations in Kuwait are invested in India, whether through direct foreign investment (FDI) or through routing through countries like Mauritius, which provide tax breaks. Many investments are made through institutions such as the Kuwait Investment Authority (KIA); today, the KIA maintains investments worth an estimated US$2.7bn in India.

Kuwaiti businesses also have a strong presence in India, another key driver of overseas money transfers. These include Noor Investment, Kuwait Finance House and KGA Group. Several investment funds have been established by Kuwait such as the India Infrastructure Fund and the Kuwait India Holding Company.

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