Two Questions -
1) What if I was not aware that trading in these foreign based Forex sites was not legal, how do I repatriate my (meagre) profits back to India. What punishment does a trader face for running such an account ?
I suppose we might have to pay some penalty to RBI for this misdemeanor.
2) Another scenario. Suppose I register a company here in India, then I go to place like Dubai or UK and open a branch of this company in these countries. Is it legal to me to move my funds to these branches abroad, so I can trade in the global markets and then repatriate this money back to India and pay taxes to Indian government (provided I make a profit)
Would that be legal according to RBI ?
1) What if I was not aware that trading in these foreign based Forex sites was not legal, how do I repatriate my (meagre) profits back to India. What punishment does a trader face for running such an account ?
I suppose we might have to pay some penalty to RBI for this misdemeanor.
2) Another scenario. Suppose I register a company here in India, then I go to place like Dubai or UK and open a branch of this company in these countries. Is it legal to me to move my funds to these branches abroad, so I can trade in the global markets and then repatriate this money back to India and pay taxes to Indian government (provided I make a profit)
Would that be legal according to RBI ?
