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Dealing in multiple currencies from Singapore. Advisable?

Asked in Offshore (General) for Singapore

My client is a company incorporated in India. It proposes to receive and pay in multiple currencies (especially Brazilian Real and Russian Ruble) and make payment in multiple currencies. SInce India has lots of formalities (15
CA/CB), is it advisable to set-up a bank account in Singapore or other favourable jurisdiction to manage these currencies? Any other better option available to manage it as lowest possible cost
India Russia Singapore Brazil
Posted by allabouttax on Feb 05, 2014 at 11:51


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