250 mini lots is it possible?
- Thread starter Piratetrader
- Start date
Re: withdrawing from moneybookers?
As of now it is the safest way for fx trading.
You can withdraw from mb a/c to your bank.No questions asked.If at all some query comes(means when size of your withdrawl $ becomes bigger)You can say your uncle /father/relative gifted or it is proceeds from your software export.Since you are bringing in money and you are likely to pay tax no one is going to raise eyebrows.Documentation for wiring to your bank is MB's headache in his home country and as such there is no restriction in uk for forex there is no problem.
For uploading funds to mb,credit card is the only way.You cant wire to your MB a/c unless you state some specific purpose to the bank like "invest in equities".Since RBI has tightened norms,under the current scenario it will be difficult,as you may need to show some documents for your investments.
And it is always better to bank with smaller banks like axis,ingvysya and others for forex purposes as less number of questions are likely to be asked ,than icici/hdfc ...
i have a little confusion about money bookers as a lot of forex brokers accepts money booker. i want to know that if i deposit or withdraw funds from here will the bank question me that from where the money is cmming, and if yes what should i say?
You can withdraw from mb a/c to your bank.No questions asked.If at all some query comes(means when size of your withdrawl $ becomes bigger)You can say your uncle /father/relative gifted or it is proceeds from your software export.Since you are bringing in money and you are likely to pay tax no one is going to raise eyebrows.Documentation for wiring to your bank is MB's headache in his home country and as such there is no restriction in uk for forex there is no problem.
For uploading funds to mb,credit card is the only way.You cant wire to your MB a/c unless you state some specific purpose to the bank like "invest in equities".Since RBI has tightened norms,under the current scenario it will be difficult,as you may need to show some documents for your investments.
And it is always better to bank with smaller banks like axis,ingvysya and others for forex purposes as less number of questions are likely to be asked ,than icici/hdfc ...
Re: withdrawing from moneybookers?
Investment in 'shares and futures' will be better than gold ,as gold/silver can be traded in domestic market with mcx ,international trade after conversion of rupee might arouse suspicion because rbi has asked banks to be vigilant towards inward remittance in its latest circular.And these days most of the forex companies have the facility for share trading and investment and a lot of other financial instruments..
For smaller amounts firc is not required..
Investment in 'shares and futures' will be better than gold ,as gold/silver can be traded in domestic market with mcx ,international trade after conversion of rupee might arouse suspicion because rbi has asked banks to be vigilant towards inward remittance in its latest circular.And these days most of the forex companies have the facility for share trading and investment and a lot of other financial instruments..
For smaller amounts firc is not required..
Re: withdrawing from moneybookers?
There are no restrictions on receiving inward remittances from abroad through the normal banking channel.If the value of remittance exceeds Rs 1 lakh,the purpose of the remittance should be advised by the beneficiary(you) to the authorised dealer(bank) through whom the remittance is received.
If the remittance is through cheque /draft or any other medium then only you need FIRC.There are so many NRI's sending money to their family here thru bank transfer.
In a nutshell try to keep the remittance below 1 lakh (2200$) at one time,there wont be any problem
There are no restrictions on receiving inward remittances from abroad through the normal banking channel.If the value of remittance exceeds Rs 1 lakh,the purpose of the remittance should be advised by the beneficiary(you) to the authorised dealer(bank) through whom the remittance is received.
If the remittance is through cheque /draft or any other medium then only you need FIRC.There are so many NRI's sending money to their family here thru bank transfer.
In a nutshell try to keep the remittance below 1 lakh (2200$) at one time,there wont be any problem
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
|
Amibroker FnO Equity Intraday data less than 250 p.m ? | Data Feeds | 0 | |
|
IndiGrid InvIT Fund IPO (Rs 2250.00 Cr) Opens on May 17, 2017 | Initial Public Offers (IPO's) | 0 | |
| R | Reddy2506 | Introductions | 0 | |
| M | BSE 532500 and 632500 | Equities | 0 | |
| R | 3 Trading Days Crude Oil gave 250 Points | Energy | 18 |
Similar threads
-
-
IndiGrid InvIT Fund IPO (Rs 2250.00 Cr) Opens on May 17, 2017
- Started by Chittorgarh
- Replies: 0
-
-
-