India is a strange country. It is probably the only country in the entire world where you can steal, rape, extort, murder someone in broad daylight, or worse and walk away completely Scott Free if you know a few people in New Delhi, or have a few bundles of ‘In God We Trust’. The Government which is corrupt to the core, with scams worth billions of trillions of dollars are unearthed every single month (the latest 2G Scam is worth USD 39 Billion); and best not to speak about Indian democracy. Its a complete joke. Probably the only country on EARTH wherein the Ruling Party’s Head is a ‘Woman‘ who was born in another country. Technically, a country of over a BILLION people couldn’t find a MAN / WOMAN of Indian origin to head the country. I mean – if God was having whiskey upstairs along with his girlfriend, am sure, he would have remarked – “What a queer case these Indians are!“.
PayPal is technically dead in India. Comes as a rude shock to professionals (freelancers, designers, consultants, offshore advisory consultants and others) who work and get paid from outside India for their services. As it so happens, the great Indian Government, who has decided to screw commoners on the wake of immense corruption has decided to come down heavy on PayPal.
Anyways, this brings us to screwing common people. The Government had to find some scapegoat, for putting the blame of corruption and money laundering. So, instead of going after the multi-billionaires and corrupt Tax officials, it found a sitting duck instead. PayPal. Thus, PayPal is screwed. One cannot send or receive foreign remittance of more than USD 500 in one transaction. Which means – if your fees for Consulting from an overseas client is USD 2,000; he/she needs to send you 4 separate transactions of USD 500, 500, 500, 500. This is fucking awful!
Another rule is – Once you receive a sum of USD 500, you need to transfer the sum to your Bank Account in 7 days time. Failure to do so means, your PayPal account will get reported and suspended automatically. I received a sum from one of my personal clients; and yes, was traveling to Kolkata for Pujas, so forgot to transfer the sum; thus, now, my PayPal account is locked. Thanks to the fucking Indian Government!
So right now the best option is to:
> Provide your personal bank account number (preferably a bank with foreign origins like HSBC or RBS or Citi or StanChart) + SWIFT code to your client(s) and ask them to transfer the sum directly to your bank account via Wire Transfer.
> Or, if you have some cash lying around, open up a Swiss Bank account. Not account worth billions, but very cheap accounts with very low minimum balances are available as well. Open one such, and transfer all the sum therein. Enjoy it at your leisure and screw back India without paying any taxes.