Can i open a forex account from US and trade in India?

#3
But how would I withdraw money to my account in India?
And would be my source of income if my bank asks where is this money coming from?

Also, I wanted to ask if I open an IBC in belize and open a forex account with my company in Belize,

•How would I be able to bring money back to India so that I can use it ?
•What would be my source of income? Would I be showing as a person who runs a business in Belize and earns from there or would I be showing myself as an employee of the IBC which I own and I get paid that amount as salary?

Thanks
 

howardroark

Well-Known Member
#5
But how would I withdraw money to my account in India?
And would be my source of income if my bank asks where is this money coming from?

Also, I wanted to ask if I open an IBC in belize and open a forex account with my company in Belize,

•How would I be able to bring money back to India so that I can use it ?
•What would be my source of income? Would I be showing as a person who runs a business in Belize and earns from there or would I be showing myself as an employee of the IBC which I own and I get paid that amount as salary?

Thanks
Funding n withdrawal happen with the same mode ... That way, if u fund yr account from a US bank, withdrawal also happen to the same bank ...
From that bank account, you have to withdraw / transfer it to your Indian bank account ...
 
#6
And when I withdraw that amount from a US bank account to an Indian bank account, can I declare that my earning is from trading forex (because I am not converting rupee to dollar as I have not deposited ruppe to my trading account) ?

Or would I have to show/prove that the source of income is not forex but something else.
 
#7
If you already have an account with a bank in the US, and you funded your account with the broker using this, your funds would be transferred to this account.

if you plan to use your account in belize, transfer funds from india to belize as working capital. from there, fund your account with your broker, and then, to transfer funds to india, source of funds to india would be profits from business.
 

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