Any mentors familiar with Indian system?

[Cryptobabaji]

Hi

Are they mentors in this forum who are well versed with Indian system?
To get in and out funds?

Regards
Babaji

 

[Cryptobabaji]

1)bring money in and out of india
2)merchant account for accepting payments in india
3) bank accounts in dubaiwith inr

 

[Elitegold7]

1)bring money in and out of india
2)merchant account for accepting payments in india
3) bank accounts in dubaiwith inr

1) Is not an issue. Multiple ways & means. Can be via bank or obviously Hawala.
2) Possible but not sure if the costs that you will incur on setting up the necessary smoke screen will be worth of what you are trying to achieve.
3) Why do u need bank accounts in UAE in INR? Pls explain. Bank Of Baroda can provide this but i still do not get the logic here.

 

[Cryptobabaji]

Thanks elitegold7 for the answer. Basically trying to arbitrage crypto assets in india. Sell there in inr, bring the money back to Europe and buy crypto. Rinse and repeat. Please advice

 

[Cryptobabaji]

1) Is not an issue. Multiple ways & means. Can be via bank or obviously Hawala.
2) Possible but not sure if the costs that you will incur on setting up the necessary smoke screen will be worth of what you are trying to achieve.
3) Why do u need bank accounts in UAE in INR? Pls explain. Bank Of Baroda can provide this but i still do not get the logic here.

We are licensed exchange in Europe trying to operate in india. Need your help with 1 and 2. Could you please help me out

 

[JohnLocke]

Where do you hold this license @Cryptobabaji ? If I read it correct then it's from India, but then, if you the license is valid then why not approach some of the accounting or law firms in Switzerland or Malta ? It is where all others are located.

 

[Cryptobabaji]

Licence is from Estonia. We have banks in Germany and Malta only eur. Want to operate in inr

 

[JohnLocke]

Okay, I see. Some of the major banks there must be able to handle the currency INR otherwise the Swiss banks should do, what about Corporate Multi-Currency Account | DBS Bank India not sure if they accept crypto but if you don't know them you may try to contact them.

 

[Elitegold7]

Thanks elitegold7 for the answer. Basically trying to arbitrage crypto assets in india. Sell there in inr, bring the money back to Europe and buy crypto. Rinse and repeat. Please advice

Basically you want to do what every one is/has/wants to do. The Arbitrage is about 5-7% depending & this is exactly what Hawala will cost. The smoke screen infra creation & monthly burn rate would be similar incase you go ahead for local processing. Both ways its a no brainer as far as i see it. This can only work if you have numbers on your side. When i say numbers i mean 7 figure in USD atleast twice weekly and your ability to have holding capacity of your cash flow as funds will get delayed off & on when they are on the move in the system.

 

[Cryptobabaji]

I

Basically you want to do what every one is/has/wants to do. The Arbitrage is about 5-7% depending & this is exactly what Hawala will cost. The smoke screen infra creation & monthly burn rate would be similar incase you go ahead for local processing. Both ways its a no brainer as far as i see it. This can only work if you have numbers on your side. When i say numbers i mean 7 figure in USD atleast twice weekly and your ability to have holding capacity of your cash flow as funds will get delayed off & on when they are on the move in the system.

I am more curious about smoke screen infras). Could you please guide me on this. How can I pm on this platform? Kumar.

 

[Cryptobabaji]

Hey with respect to your enquiry, not a territory you should enter, especially right now. Tried it worked for a year and a half, got some big institutions to help us facilitate but it was unreliable. And you don't want to be in a spot where your money isn't controlled by you, and you have to face the exposure. Just my advice out of experience for a client. Rest your call. Also if you figure a full proof way, let me know Finders Fee for you

FYI if you need solutions across the globe or anything with respect to UAE, I might be able to connect, although I'm not sure of all the rules here on the forum so I'll leave it here for now,.

well i more or less came to the same conclusion now but nevertheless would love to reach out wider audience ,@Admin if its ok with you , can he please share the contacts in dubai?

 

[speedster]

Does India have capital / foreign exchange controls or what is the biggest challenge with arbitrage?

 

[JohnLocke]

well i more or less came to the same conclusion now but nevertheless would love to reach out wider audience ,@Admin if its ok with you , can he please share the contacts in dubai?

Sure you can just go ahead and share agency services as you like.