Finance, Investments Wire transfer

[esoliman]

I have a business account i use for busness transactions such as paying for the products that i export from the usa to the reast of the would . My customer would like to deposit funds to my business account through deposits by usa dollars in usa from some of his family and friends members and he will pay them the equivalent of the dollar in their foreign country or in dollar. I will have a proof that the funds deposited to my account used to export american goods and shipped out of the usa . Also, i can show my payments to my vendors and suppliers. The source of the funds deposited to my account is coming from this people bank account. No cash involved. Is that legal? Please let me know.

 

[legalguys]

Without more facts there cannot be any firm conclusion. It sounds like a one way relationship. You buy products from, e.g. China to distribute / sell in the US. Customer wants to send you money to put into your account and then pay him in US Dollars. If he wants to just give you money and you pay in US Dollars, that would seem fine provided that you are paying market price. But clearly that's not what will likely happen. In order to move the money, that would probably mean that you will pay an amount in excess of market so that money that came in for free as Chinese Yuan will go out as US Dollars for the surplus. As to what the law is, you should speak to an attorney who specializes in international currencies and banking law. If there are laws concerning the transfer of money that you are deliberately trying to circumvent, then you are answering your own question.

 

[army judge]

I have a business account i use for busness transactions such as paying for the products that i export from the usa to the reast of the would . My customer would like to deposit funds to my business account through deposits by usa dollars in usa from some of his family and friends members and he will pay them the equivalent of the dollar in their foreign country or in dollar. I will have a proof that the funds deposited to my account used to export american goods and shipped out of the usa . Also, i can show my payments to my vendors and suppliers. The source of the funds deposited to my account is coming from this people bank account. No cash involved. Is that legal? Please let me know.

What you're describing from your account in EGYPT, while you portray yourself as a businessperson in CA will certainly pique the interest of law enforcement in Egypt and China, maybe; but it'll definitely get the US law enforcement community excited and interested!

Your call, boos, your life.