Foreign Exchange Business

Foreign Exchange business is also giving attractive commission to the dealers. Marketing should be done by concentrating Multinational companies and frequent travelers outside the country. According to the increase in the volume of business, profitability will be increased. By providing better service at door step of client the organization can retain clients for long period.

Facilities Required

Facilities Required for Foreign Exchange Business are:

Office

Rented or own office

Staff

Expert staff in foreign Exchange Dealing
Receptionist (if required)
General Helper

Facilities

Telephone, Fax, Computer, Printer & Internet connection
Licensed Accounting Software

Opening of Bank Account

In India, Bank Account of a Proprietorship can be opened by giving the following documents:

ID Proof of Proprietor
Address Proof of Proprietor
Photograph of Proprietor
Copy of PAN Card of Proprietor
Copy of any bill raised by the firm (some banks may ask for)

But in other countries, documentation procedure will be different according to the law of land.

Different modes of advertisement like news paper, internet, pamphlet, hoardings etc can be used according to the budget.

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Foreign Exchange Business

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