Originally Posted by johnny five (Post 7243453)

I think you will find that under Indian financial laws, you are required to hold a valid visa whilst operating a bank account.

Strictly following the letter of the law you shonn.

Different banks have different attitudes to this situation, some ignore it, some are aware and rigorously enforce it, some deny the law exists, etc. Bear in mind, its in their interest (sic) to get hold of your money, like any bank. In theory, having a UK ICICI bank account doesn't alter any of the above.

The law involved is FEMA (Foreign Exchange Management Act) which is available on line if you search. The wording is in plain English and straight-forward.

With the Indian Authorities closing in on everything foreigners do here, especially the British, please be careful, we have heard of some "panicky" situations.

If you simply want to access your money while on holiday, a Nationwide Flex account allows you to draw from ICICI atms (and it would appear, some others) free of charge and at good exchange rates.

If you are trying to gain from the higher interest rates available here, then please accept that there are risks involved, not just with the "credit crunch", as Indian banks do not offer the guarantees given in the UK, but also the "illegality" of having a bank account without a valid visa.

J5

I posted this on HT yesterday as so many of the "happy-holidaymakers" were extolling the virtues of their Goan bank accounts. Thought it might be relevant to this thread as well. Quite happy to be told I am wrong, but please check first, before you do!

Originally Posted by bijou1 (Post 7284923)

hi j5 i would be very grateful if you could advice me on how to get my money out of Goa.The developer says he cannot transfer it back into my bank account in the U.k. but will give it to me if I go to Goa. I don't have a bank account in
Goa it is around 30,000pounds the oringinal cash was sent directly from my bank to the developers bank

Originally Posted by bijou1 (Post 7284923)

hi j5 i would be very grateful if you could advice me on how to get my money out of Goa.The developer says he cannot transfer it back into my bank account in the U.k. but will give it to me if I go to Goa. I don't have a bank account inGoa it is around 30,000pounds the oringinal cash was sent directly from my bank to the developers bank

Originally Posted by hemingway (Post 7284945)

bijou1,

Your builder CAN return your money through normal banking channels - he would've had a Foreign Inward Rmittance Certificate when the money originally went into Goa - you should INSIST on having your money returned this way as you do not want to be in Goa with just over two million Rupees in cash :eek::eek::eek:

Best of luck

Hemingway

Originally Posted by Kan-conned (Post 7572441)

Dear Aunt Noni,:wub:

I am filling my expenses claim and wonder can I claim for "my" second home in Goa ?
Although I have tried to comply with the law (?:rofl:) over there, I feel I am now getting Sh1t on over here as well :thumbdown:

Your help is appreciated

Robin.D.Votor M.P ( Fidlingham)

Originally Posted by noni (Post 7572791)

Mr. Fidlingham, you claimed £800 per month for a non existant mortgage, us oap's only have £400 a month to live on. you try it mate.:banghead::curse: please can we have expenses to fly to Goa to save on heating and cheap food.:fingerscrossed:

Originally Posted by hemingway (Post 7574954)

My father-in-law who is not an M.P. but is 74, uses his winter fuel allowance towards the cost of running his AC in Florida from November to March! :scaredhair::scaredhair::scaredhair:

Regards

Hemingway

Originally Posted by hemingway (Post 7574954)

My father-in-law who is not an M.P. but is 74, uses his winter fuel allowance towards the cost of running his AC in Florida from November to March! :scaredhair::scaredhair::scaredhair:

Regards

Hemingway

Originally Posted by hemingway (Post 7574954)

My father-in-law who is not an M.P. but is 74, uses his winter fuel allowance towards the cost of running his AC in Florida from November to March! :scaredhair::scaredhair::scaredhair:

Regards

Hemingway

Originally Posted by noni (Post 7575065)

Just because you can't escape the british weather, don't take it out on f-i-law.QUOTE]

Wouldn't dream of taking out on him - just envious at the moment, not of being 74 , but of spending winters in sunny warm weather - infact in 'X' years time, I hope to be spending my own winter fuel allowance on running AC somewhere warm. . . . . . . . . . .

He's being doing his winters in the sun every year since the mid 1980s & if I can be in anything like as good health as him when I'm 74, I'll be well pleased!

Regards

Hemingway