Remittances are the funds transfers made by anyone living abroad back to the home country where they can use those funds to buy a property or any other assets.
Global financial services rules are changing quite rapidly and it is becoming very important that you always keep a money trail of any purchases you make especially property or any financial assets in your home country. You should always keep a copy of every remittance you send back home since the banks in your home country may not be able to provide you with a clear trace of all the remittances you made into your home country bank account. This is because most of the time various intermediary banks are involved to support the international remittances. Remember, you may need to produce this the source of funds and money trail back home if you plan to buy any assets, or property in your home country.