Import export payments
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 August 2018
Hello, I am a trader, my company Exports frozen food products to Vietnam and Hong Kong. My company branded products of other manufacturers, therefore I can’t export the product by myself, I only act as a middleman. The invoice and BL are raised by manufacturer directly in the name of buyer. This as a result both manufacturer and buyer come to know each other and consequently eliminate me in next transaction. I lose my customer and business. How can I avoid this buyer and manufacturer meeting.
I have two ideas, please suggest me with your advice:
1. Setup an offshore company in Hong Kong and then act as buyer to Indian company and then sell goods to further buyer.
2. Collect payment in my indian bank account and then I am not sure if I can pay indian company in USD.
I have two ideas, please suggest me with your advice:
1. Setup an offshore company in Hong Kong and then act as buyer to Indian company and then sell goods to further buyer.
2. Collect payment in my indian bank account and then I am not sure if I can pay indian company in USD.
CA R SEETHARAMAN
(Expert)
23 August 2018
1 yes you can do that.
2 yes you can pay Indian company in USD.
2 yes you can pay Indian company in USD.
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