Guys i better say apply for a credit card which is totally free now Then get verified in paypal though this all process takes 2-3 months. But will help you in future and accept everything by paypal.
Apply for a credit card and get it. Normal time - 1 Month for getting CC in your hands. And again getting verified with statement is 1month So dont you think this all will take 2months?
As per me clients are intrested to pay through paypal only. The won't agree with other means of transaction like Western Union etc., It was my experience with one of my client. Finally I could transfer my funds to India through one of my well wisher paypal account.
One of the most informative posts I have seen. I hope this page ranks well whenever somebody types "send money to india"
I agree to Abhishek, most of the people ignore Indian Laws. Technically, as per the Govt. of India, anything you sell outside the country even if it's services or advertising of any type, it's deemed as Export. Now when you are exporting anything outside the country, you do need an IEL # (Import Export License). I read about a guy in Mumbai who was arrested by Fema for sometime like this. Do things the right way before it's too late and you get into trouble. So, yes, even if you use Paypal or whatever, you do need that license.
I am an American as well as an Indian (dual citizenship) so I transfer all my foreign earnings into my american bank account and my local earnings into my Indian. Is there anything wrong with this legally speaking?
Till date recieved 2 times money through xoom though not high amount, hope there's no danger to me Will i be in dp or in kaalapani
hahaha Kaalapani...good joke Amit. Why don't you say Sri Krishna Janmasthal instead. Everybody will understand.
wohi toh both are same na I dont want to go there Guys help me oput and stop the cops from taking me there
Interesting topic. we need to continue on this as this is a important issue.Though I don't have much knowledge about all this but @honey - Can selling e-items come under exports ? I am NEVER exporting anything from India
Exactly. As long as the money is being received from outside India for a product/service/advertising/ETC, it's export as per RBI (Reserve Bank of India), and does need a IEL. Pretty simple and easy steps to get it though and costs less then $50.
INR 1000 is cheap I guess..can you tell me the exact procedure ? I am in hyderabad so may be me and Amit can go and get the license..atleast he wont' be going to kaalapani for Fema abuse