the company behind the BTCXIndia got IEC( import export code) - page 2.

Smack That Ace

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Quote from: BitCoinDream on July 15, 2014, 11:38:13 AM

Quote from: btcxindia on July 14, 2014, 10:21:18 AM

S Capital Solutions Pvt Ltd – the company behind the BTCXIndia got IEC( import export code) from http://dgft.gov.in/
IEC:0914007360;you may check through http://dgft.delhi.nic.in:8100/dgft/IecPrint with IEC code and first 3 letters: S CA (S space CA)

May I know the purpose of import export code in bitcoin scenario ?

Haha Very good question
Thats the first thing that came to my mind.

Not referring to the Original comment but if buysellbitco is taking such measures to deal with compliance i am actually shocked.

This is NOT the right way forward as you can in no way comply with import export regulations or somehow figure a way to trick the bank into believing so.
Good try though Import Bitcoin Export Money - Vice Versa -------- THATS GOT MONEY LAUNDERING WRITTEN ALL OVER IT.

Again not realted to the original post just seeing how people might be pushing you in the wrong direction to keep you off the right one.
Good job on the license.

BTCIndia

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Quote from: btcxindia on July 16, 2014, 12:54:11 AM

Benson Samuel's and Buysellbitcoin views are correct.
We have NRI accounts; they are sending bitcoins from outside India and trading in our platform.Once trade has happend , we will transfer funds in their respective banks in India. For this we need an IEC code.
This is purely complaince measure till the new regulations come in to the system.

IEC is not good without receipt/invoice. How are you going to raise/ask invoice against deposition from NRI clients. Is it troll?

Opps! Sorry! I thought, you gonna deposit money in their overseas account.

btcxindia

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bitcoin exchange in India

Benson Samuel's and Buysellbitcoin views are correct.
We have NRI accounts; they are sending bitcoins from outside India and trading in our platform.Once trade has happend , we will transfer funds in their respective banks in India. For this we need an IEC code.
This is purely complaince measure till the new regulations come in to the system.

buysellbitcoin

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Few pointers :

1) If you send/receive any thing inside outside of India you need IEC.
2) If you want EEFC bank account where you can hold foreign currency you need IEC.

Regards

Benson Samuel

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Quote from: BitCoinDream on July 15, 2014, 11:38:13 AM

Quote from: btcxindia on July 14, 2014, 10:21:18 AM

S Capital Solutions Pvt Ltd – the company behind the BTCXIndia got IEC( import export code) from http://dgft.gov.in/
IEC:0914007360;you may check through http://dgft.delhi.nic.in:8100/dgft/IecPrint with IEC code and first 3 letters: S CA (S space CA)

May I know the purpose of import export code in bitcoin scenario ?

I assume that this would be used when bringing in Bitcoins to India.
Or could be getting ready to accept customers from outside India as well.

Good move. NIce to see you guys doing well.

BitCoinDream

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Quote from: btcxindia on July 14, 2014, 10:21:18 AM

S Capital Solutions Pvt Ltd – the company behind the BTCXIndia got IEC( import export code) from http://dgft.gov.in/
IEC:0914007360;you may check through http://dgft.delhi.nic.in:8100/dgft/IecPrint with IEC code and first 3 letters: S CA (S space CA)

May I know the purpose of import export code in bitcoin scenario ?

buysellbitcoin

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Quote from: btcxindia on July 14, 2014, 10:21:18 AM

S Capital Solutions Pvt Ltd – the company behind the BTCXIndia got IEC( import export code) from http://dgft.gov.in/
IEC:0914007360;you may check through http://dgft.delhi.nic.in:8100/dgft/IecPrint with IEC code and first 3 letters: S CA (S space CA)

I can surely see you are going in a very right direction. This is exactly what we need in terms of efforts from our exchanges. New regulations may come later but getting compliance with existing one is the best thing you can do. Best of luck team.

Regards

btcxindia

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S Capital Solutions Pvt Ltd – the company behind the BTCXIndia got IEC( import export code) from http://dgft.gov.in/
IEC:0914007360;you may check through http://dgft.delhi.nic.in:8100/dgft/IecPrint with IEC code and first 3 letters: S CA (S space CA)

Topic: the company behind the BTCXIndia got IEC( import export code) - page 2. (Read 4002 times)