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Top 2 Money Transfer Providers for Qatar to India

Provider Amount To Send Fee Exchange Rate Speed
Smart Currency Exchange Smart Currency Exchange QAR ﷼ 10,000.00 23.15QAR 22.3326 1-3 days more...
Moneycorp Moneycorp QAR ﷼ 10,000.00 No Fee 22.0799 1-3 days more...
FXcompared Country Guides
Qatar
The Qatari riyal (QAR) is fully convertible, and Qatar does not restrict overseas transfers of funds from capital gains, interest, dividends, royalties or management fees 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 Qatar to India

Top 2 Money Transfer Providers

Latest prices for transferring money from Qatar to India
Exchange Rates as of 23 February 2024, 14:31

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 223,325.69
QAR ﷼ 285.70
saved vs. banks

Moneycorp

Est. 1979

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

More InfoLess Info
Amount Received
INR 220,798.68
QAR ﷼ 174.51
saved vs. banks

How to Transfer Money from Qatar to India

Qatar to India Guide

Summary

Qatar and India have a historically friendly relationship, especially in the areas of trade and labour migration. Both countries cooperate in areas such as defence, trade and investment, security, law enforcement, civil aviation and human resources.

Around a quarter of the population in Qatar are Indian, which has driven up international money transfers to the country. If you’re looking to send money from Qatar to India quickly, safely and without large fees, this guide will help.

QAR and INR

The Qatari Riyal (QAR, Qr) has been in use since the 1960s, since the Indian rupee (INR) devalued and Qatar decided to switch from the Gulf rupee to their own currency. It is pegged to the United States dollar (USD), unlike the INR which is a floating currency.

The QAR is a highly convertible currency and there are no restrictions to transfer money from QAR to INR, whether in the form of royalties, interest earned, salaries or any other fees.

If you want to transfer money from Qatar to India, you can find favourable exchange rates and transfer with low or no fees by comparing money transfer providers.

Visas and Immigration

Indian nationals require a visa in order to visit, study, work, or do business in Qatar if staying for more than 30 days. The process has been made easier with e-Visas, as you can send supporting documents electronically.

There are several different types of visas you can choose from, including tourism, business, work and visas for family. Prices for each type of visa will vary depending on the validity length. In order for your visa to be processed, you will need to supply a passport with at least six months validity from when you arrive, along with documentation relating to your visa type.

More details on the requirements for each visa type and the category you fit into can be found on the website of the Embassy of India in Qatar.

Remittances to India

As the number of Indian nationals in Qatar grows closer to one million, so does the flow of money transfers from India to Qatar, and vice versa. India surpassed $100bn in 2022, making it the single largest recipient of global remittance flows.

As of February 2015, the Indian government has prohibited outgoing cash transfers that are denominated in rupees in an effort to keep currency on the local market.  High numbers of Indian migrant workers in Qatar and other Gulf countries make this a critical region for the remittance sector. A large number of companies are present in the Gulf to transfer remittances to India, as this is such an important financial channel.

Banking in India

A few Indian banks such as HDFC and ICICI Bank have operations in Qatar, providing service for non-resident Indians. They and other money transfer agencies are regulated to make it more efficient to transfer money from Qatar to India.

India’s financial sector includes a wide variety of private, public and international banks to choose from if you plan to establish a local bank account. Although international banks such as Barclays and Citibank may be the first choice for expats to India, Indian banks offer strong competition with electronic services, numerous ATMs and dedicated banking managers to assist with transactions.

For frequent international transactions, take a look at the global money transfer providers available, as you could ensure your recipient receives the best exchange rates without the fees.

A double taxation agreement in effect between Qatar and India ensures that each country’s citizens are only required to pay tax once on income made in either country.

Trade with India

Bilateral trade between India and Qatar has increased steadily in recent years, with Qatar exporting $15.15bn in 2022 and importing $2.07bn in the same year. This growth has been substantial since 2016. Main imports from India include metals, cereals, vehicles and electricals, and exports are fuels, oils, organic chemicals and plastics

Investment in India

Many Indian companies have established branches in Qatar and are working with major contracts with Qatari businesses. Over nine thousand Indian companies operate in Qatar, which correlates with the high population of Indian nationals in the country. These include NIIT, Tech Mahindra, L&T, Voltas and HCL. The two countries are frequently in talks about investing in one another, building on an already firmly established bond.

Whatever your reason for money transfers from Qatar to India, you could be facing charges on the receiving end due to exchange rates and fees. By comparing the top money transfer providers, you can find the best deal for your QAR to INR transfer.

 

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 Qatar 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.