Turner Little - Company Formation Agents & Banking Intermediaries.Chat to a member of our sales team.
Mentor Group
Offshore Company Formation and Management Services

Any mentors familiar with Indian system?

Cryptobabaji

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

Elitegold7

New member
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

New member
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

New member
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
 

Admin

Forum Moderator
Staff member
Elite Member
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.
 

Admin

Forum Moderator
Staff member
Elite Member
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

New member
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

New member
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

New member
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?
 

Admin

Forum Moderator
Staff member
Elite Member
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.
 
Mentor Group
Mentor Group
Top