I’m trying to sell family assets in India and convert them into USD. Any suggestions from folks who’ve done this without paying banks exorbitant fees? Bonus question: if I sell real estate in India, can I purchase real estate in the US as an exchange and not pay taxes?
There's a limit on the amount. There's no exchange I am aware of to avoid paying taxes.
It’s 2M limit. Usd
So how about sending it to traveling card and using it slowing in USA ;)
Sell everything. Buy bitcoin and move
How to convert Indian cash to bitcoin?
Google it
I did this at the start of this year. I went through Axis bank, supposedly got better rate going through bank’s relationship manager, but still way less than market exchange rate. I did not consider Bitcoin route, I think it’s illegal to buy it in India..
How long did axis bank take to transfer ? What docs did u have to provide ( if it was RE sale ) ?
Buying bitcoin is not illegal in india, there are many sites where u can buy from. Bitbns being most trusted
Crypto of your choice.
How to convert Indian cash to crypto?
@visa you can use wazirx, coindcx or binance p2p
Check exchange rate, which is closest to the the actual rate. I have found SBI to have closest exchange rates ...
So if I understand correctly, there are three options: 1. Buy Bitcoin in India and sell it in the us for dollar? 2. Bank transfer from axis, hdfc or sbi 3. Travel card
Travel cards gave some limits so you got to do in chunks. You can reload it again and again
Of there Bitcoin seems very promising. So I can buy btc in Indian rupee and sell it for usd?
All you have to do is figure out how to get rupees to Bitcoin (or anything else, USDT BUSD etc). Once you have crypto anything is possible 😁
Well, how do you buy btc in rupees? If I need to buy it in usd, we have the same problems of some bank fleecing you for conversions
https://fabiantan10.medium.com/best-way-to-transfer-money-from-myr-to-sgd-via-transferwise-in-malaysia-ff02e9d66cd6 You might want to check what are the daily limits for the transfer in wise. https://wise.com/help/articles/2571907/what-currencies-can-i-send-to-and-from
Last time I checked they don’t transfer from india to US
There’s also the hawala system but it might be a bit risky
Do u know how to find leads ?
I can ask around. Pls dm me so I don’t forget
Yes you can transfer using HDFC or any bank. Takes time but easy. No to second q