Receiving US Dollar and Making payment in USD

Renjith Babu K (Asst. Manager - Finance)   (43 Points)

19 November 2009  

 Dear Seniors,

We are a 100 % EOU, STPI and Software Development company located in Bangalore.

We are selling now custom based internet products and sell to US, UK, Australia, Ireland etc,

Now we plan to launch a product oriented business. We develop a product and sell/hire many people all over the word. For that we may have to pay some professional or marketing charges to many people abroad.

My doubt how we can make the payments to these kind of service provider in their currency? and what is the procedure for that for a STPI Unit?  What kind of documentation required for that? We expect the inward remittance as law as $10 per month from a person/company for the service, how the STPI billing and FIRC can be filed? What all documentation required to make foreign payment in such cased? We expect many payment through credit cards which Bank is providing the good gateway for this kind of Business?

Some people advised us making a US Seperate  legal entity or subcidiary is better on this regard, how difficult it would be?

Thanks in advance

Renjith