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December 10, 2018, 07:38:39 AM |
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Hi,
This is not exactly a blockchain question, for more of a financial question. We have registered our company in London and it is a cryptocurrency product (upcoming exchange). Founder is in India. One of the investor is interested to invest. If deal is finalized, he would like to transfer a good amount to us. We do no have any such account yet. My questions are - 1- Should we open an account in London or in any country ? 2- If yes, what kind of account ? 3- If a large sum will be transferred, I assume Bank will be informing to Govt. or tax authority (or whoever is related department). Will there be any tax applied on that amount 4- How can we show that amount legally, if we were asked for any explanation ?
I am sure, many of members here might have gone though this stage or may have learned about this stage, so expecting an initial guidance.
Thanks in advance.
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