Is there any way to accept credit card transactions in foreign currencies (such as GBP and EUR) through our website and have the funds converted to USD to be deposited into our account?
I wanted to see if any real people had some advice before I contacted the company who handles our online transactions.
I own a foreign company, and would like to open an american subsidiary. I was thinking of having the subsidiary in las vegas, nevada.
a. Can my foreign company (as the parent company) be the “owner’ or “director” of the american subsidiary, instead of me/a person?
b. What type of company formation is open for the american subsidiary? C-corp, S-corp, LLC, LLP? Etc?
c. If my company is NOT doing any sales in the US, but just marketing, promotions, and advertising for the goods sold by my foreign parent company, and final sale will be done by my foreign company at 30% witholding tax for federal taxes, is that a problem?
Thanks in advance!
Oh gosh, how do you reply to a person on this thing? Hehehe! I am trying to figure this thing out….
Martha and others, thank you so much for the info! To answer your Q, i need an american set up to trade with the US. And no, my country of residence (NOT US) will not tax us on worldwide/foreign income. I am happy to pay US taxes, that’s fine.
But i have one more Q — if the owners of an LLC declares their corporate profits on their personal taxes returns, how can a corporation/company be the “owner”!?!? I take it then a company CANNOT be the owner of an LLC?
Is that right?
So a company can only be the “director” or “owner” of a C corporation? Is that right?
Thanks again!
I’m planning to study in Hong Kong for one semester, but I want to know what is the average cost of living (monthly) of living in Hong Kong.
That should include rent, electricity and services, food, etc.
Anyone that has been studying in HK as exchange student, please tell me how much did you spent per month…??
As a High School Freshman, I am considering doing a foreign exchange program in my Sophomore or Junior year. Japan would be my first choice, as I know a lot of the language, however, I realize this may not be possible.
However, I would also like going to Taiwan or Hong Kong, as they seem like a more realistic option, because they are less “in-demand”, in terms of kids wanting to go there. So do you know of any websites for (high school) foreign exchange programs in Taiwan or Hong Kong (or even mainland China)?
I have some foreign currency lying around, and would like to exchange them for USD. I have around 22 GBP, 6 Euros, and 1700 Indian rupees, left overs from my trips. Is it possible to exchange such small amounts at a local currency exchange centre? I live in Montreal, Canada. Please give me some info. Thanks in advance!
Today,
1 USD= 46.55 India rupee
1 USD= 1.266 Australian dollar
Indian people in USA will have huge money (in India rupee) when they come back to India as 1 USD=46.55 INR. Whereas Australians living in USA will not get that much money when they come back to Australia as 1 USD= 1.266 AUD.
What does it signify?
Do Australians working in USA will not get much benfit as Indians working in USA. Please correct me if my logic is wrong.
I want to start trading currency on the foreign exchange but am not sure if I would need to report my returns as income on my federal income tax return. If I do need to report it, how so?
Seems like such small potatoes at 165 million, when AIG handed out 62 billion to foreign banks such as Deutche bank in Germany.
Seems like the media is trying to cover that up by broadcasting so much on the rich getting bonuses. 62 billion is so much more of a crime it seems.
I am trying to train myself to visualize and understand how the FX currencies are relative to the USD. Typically how does one view how the US Dollar is doing?
I guess I am having a hard to understanding it based on something like this:
EUR/USD 1.52851
I know it is the equivalent to:
A) 1 Euro = 1.52127 USD
B) 1 US Dollar (USD) = 0.65735 Euro (EUR)
In this case, the Euro is stronger than the US dollars right? This means that the Euro is worth more than the USD. For every 1 Euro, it is worth $1.52 USD.
But how about in this case:
GBP/JPY 206.599
Every 1GBP is equivalent to 206.599.
It appears that the pound is very strong. However, isn’t it true that most products in Japan sell for thousands and thousands of yen, so 206.599 Yen or 1GBP really isn’t that much?
Typically FX Statistical Data is given as:
A/B = 1.52
Where A = Currency A and B = Currency B
Therefore, is it safe to say that if the value for A/B is greater than 1, then currency A is stronger than currency B.
Suppose Hondurans began purchasing real assets in the United States. How would this impact the foreign exchange market for the lempira and the dollar price of the lempira?
Demand for Lempira / Dollar Price of Lempira
Increase / Increase
Increase / Decrease
Decrease / Decrease
Decrease / Increase
Decrease / Not Change
I have no idea on how to answer this… Please explain how you got the answer. I think its decrease/decrease since the fact that honduras is buying US assets means that they have increased the supply of lempira in order to buy the US assets. Therefore, the demand would have decreased and also the dollar price of lempira to show the depreciation of lempira.
I earn some money from foreign exchange to support my living (after I was fired from my job >.< ) and I have some questions that I always want to ask.
Let’s say my home country’s currency is USD, so I’d like to convert back to USD eventually in each series of transactions. Let’s say JPY will rise against CAD, so I buy some JPY in anticipation of the rise. If it does rise, should I:
1) convert it to CAD and then convert the CAD back to USD? or
2) convert JPY directly back to USD?
Or 1) and 2) will yield the same amount of USD that I will get?
In other words, is it possible that CAD depreciates against the JPY and the market will automatically move in such a way that CAD depreciates against USD too so 1) and 2) above will yield the same result?
Or that is it possible that CAD depreciates against JPY but the market could move in such a way that CAD appreciates against USD so 1) will yield bigger result than 2)?
Thank you.
Is it true that if you HOLD the British Pound in an account (foreign account)that even if the value goes UP you will not make a profit (even with fluctuations) because the currencies ALWAYS re-convert back to $1.00???
say I want to enter into a forward contract for USD-AUD for a year but I want to execute the contract in a third country, say India. Will the premium I pay on the forward be determined by the relative interest rates in US and Australia or does the Indian interest rate come into play as well. Thanks in advance for your help – if you could give an example, that would be great.