in Commercial Law Contracts Law Banking Law
Asked October 13, 2017

Procedure to open a Casino abroad

  • 2 Answers

Can I open online or offline casino out of India,and what happened if I transfer money from casino to Indian Bank account?

Answers 2

Dear Client, it is advisable to have a detailed discussion of your case involving your plans relating to establising business abroad. Feel free to contact on nine five eight two six eight one two nine one. Thanks & Regards.

Agree Comment 0 Agrees almost 5 years ago

The possibility of setting up casinos outside of India would depend entirely on the policies of the country in which you are looking forward to set up your business. In certain cases, gambling is not permissible by law. Hence, setting up a casino in such countries would not be possible. Further there may be certain requirements provided by the statutes of that particular country regarding setting up of casinos which you will have to adhere to. Hence this is a broad field, and in order to obtain specific information you should narrow down the countries in which you would like to set up your business.

Regarding earnings from foreign casinos and transferring the same to your Indian bank account, your winnings from abroad will attract tax. Since you are a resident of India, your global income is taxable in India so he will be required to pay a tax locally in India in addition to the tax you pay in the foreign country.

Agree Comment 0 Agrees almost 5 years ago

Please Login or Register to Submit Answer

Directory ads
Need to talk to a lawyer?

Book a phone consultation with a top-rated lawyer on Lawfarm.