What Is an Overseas Gift Loan Account?

An overseas gift loan account facilitates gifting funds to non-resident individuals or entities. It involves lending money across international borders, often for familial or philanthropic purposes. This arrangement typically includes terms for repayment, interest rates, and legal documentation to ensure compliance with relevant regulations. Overseas gift loan accounts enable individuals to support loved ones or contribute to charitable causes globally while adhering to financial regulations and tax requirements in both the giver's and recipient's jurisdictions.