DOCUMENTS TRADING

Recently a Trade Programme has commenced wherein an immovable property situated anywhere

in India can be offered for Trade Programme. Property which is having value more than Rs.

100.00 crore only can be offered for this programme. The advantage in this programme is that

there is no need of getting Safe Keeping Receipt (SKR) which means there are no huge expenses

The owner of the property gets minimum 100% (Non-refundable) value of the property while the

mediators on each side get 10% each. The payout is given in 60 days, if the total value of the

property is below Rs. 1000 crore. If the value of the property is more than Rs. 1000 crore, then

the payout is normally given @ 12% per month for 12 months.and to both media is 3% per

month which will be distributed equally. The Returns are more when the value of the property is

more. THIS IS NOT A LOAN BUT SHARE OF PROFIT FOR THE PROPERTY OWNER

AND HENCE IT DOES NOT HAVE TO BE REPAID.

STEP-BY-STEP PROCEDURE:

STEP 1:

The following supportive Documents are required

DOCUMENTS FOR THE PROPERTY:

1. The extracts of 7/12, 8, 8A.

2. Property Card.

3. Schedule II.

4. Sale Agreements/Deeds from the first owner to the current owner.

5. Valuation Report prepared by a Government Approved Valuer. (Not older than one year)

6. Search/Title Report carried out by an advocate/solicitor from the approved panel showing

search for at least 30 years. (Not older than three months)

KYC DOCUMENTS OF THE OWNER:

1 Colour Xerox of the passport.

2 Colour Xerox of the Permanent Account Number (PAN) Card.

3 Copy of a Photo Identity Proof.

4 Copy of Residence Proof.

5 Copy of Bank Pass-book. (first page)

6 Copy of a cancelled cheque.

STEP 2:

All the above mentioned documents are to be scanned and forwarded to the Indian Authorised

Franchisee on email, who forwards the same to the Overseas Company. Within a week the

Overseas Company gives Approval/Rejection of the property along with an Offer (if approved)

which is issued in the name of the owner of the property. This Offer is handed over to the owner

personally by the Indian Authorised Franchisee after verifying all the original documents.

STEP 3:

The client needs to send an acceptance letter for the open offer that he is accepting the offer and

willing to proceed for the trade and sign and scan all agreement papers. If the owner accepts the

Offer, he is asked to come forward for execution of Agreement with the main person from the

Overseas Company. This person again verifies the veracity of the original documents. After

satisfactory scrutiny he executes the necessary Agreement with the owner of the property. The

owner has to give equivalent of US $ 20,000 to the main person of the Overseas Company

towards opening up a Company in Hong Kong and a Global Premier Bank account with HSBC

Bank in Hong Kong in the name of the proposed Company. The owner does not have to travel to

Hong Kong for this purpose. The main person gives a counter cheque (Post dated cheque of 90

days) of the same amount as a security for the amount given by the owner.

STEP 4:

The main person after his returning to Hong Kong completes the procedure of opening of the

Company as well as bank account with HSBC Bank in Hong Kong. The owner gets updates at

each stage. The purpose of opening a Company and bank account in Hong Kong is that the

Trading Activity is not permitted in India.

STEP 5:

After completion of all requisite procedure the Traders instructs the bank to make (MT 103) wire

transfer the funds to owner’s account so opened with HSBC Hong Kong. HSBC Bank Hong

Kong then obtains approval from the Reserve Bank of India (RBI) giving all the details of the

transactions. After getting the RBI approval HSBC Hong Kong remits the funds (after deducting

TDS of 12.50%) to the owner’s designated bank which is mentioned in his Customer

Information Sheet (CIS). HSBC Hong Kong issues a Certificate to the owner’s designated bank

stating that the funds remitted are clean, clear and are of non-criminal origin.

STEP 6:

The funds which are received in the owner’s bank are with specific instructions to the bank. The

owner is not allowed to withdraw these funds till he fulfills certain procedure. HE HAS TO

LODGE THE ENTIRE ORIGINAL DOCUMENTS WITH HSBC BANK IN INDIA

WITHIN THREE DAYS OF THE RECEIPT OF THE FUNDS WITHOUT FAIL.

FAILING TO DO SO WILL RESULT INTO FUNDS BEING RETURNED TO HSBC

HONG KONG. The name of the branch of HSBC Bank will be informed to the owner well in

advance. The documents are to be lodged for a period of 366 days and HSBC Bank issues Safe

Custody Receipt for the documents lodged with them.

Some of the Frequently Asked Questions are given hereunder:

Ownership: Thanks Regards Call-9015663414 what's up me e-mail:fdrtrader@gmail.com