CAN EXPORTER AND IMPORTER B THE SAME PERSON IN INTERNATIONAL TRADE? EXPORTER FROM INDIA IN A NAME AND IMPORTER IN MALAYSIA IN ANOTHER NAME. MALAYSIAN IMPORTER COLLECTS ORDER FROM DIFFERENT COUNTRIES OF THE WORLD AND SEND LC TO INDIA. INDIAN EXPORTER EXPORTS DIRECTLY TO THE ULTIMATE BUYER. THE BUYER SENDS PAYMENT TO MALAYSIA AND THEN FINALLY FUND SEND TO INDIA OR ULTIMATE BUYER SENDS THE FUND TO INDIA DIRECTLY.
WHAT ARE THE RISKS?? WHAT TO AVOID?? IS THE PROCEDURE LEGAL???
CAN EXPORTER AND IMPORTER B THE SAME PERSON?
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asrafrana
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picant
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Re: CAN EXPORTER AND IMPORTER B THE SAME PERSON?
Hi Pal,
with true problems due to AML, KYC etc, it is very hard to conduct such transactions, However in the past it could be possible to compensate debit and credit or to indicate in its own invoice to remit proceeds to a different company.
Checking the local law is necessary before starting to operate in this scenario,
Other comments appreciated
Ciao
with true problems due to AML, KYC etc, it is very hard to conduct such transactions, However in the past it could be possible to compensate debit and credit or to indicate in its own invoice to remit proceeds to a different company.
Checking the local law is necessary before starting to operate in this scenario,
Other comments appreciated
Ciao