Looking for a prop firm in India

OK SO you are talking about "being hired by a prop firm without any capital contribution from you and in specific trading leveraged or non leveraged instruments out side India"
This "position" could be either performance only or some salary + performance
IF SO then
This is purely outsourcing like in any other field to India from overseas.
ALL you are providing is your expertise in trading
To best of my knowledge you will be declaring this like any other overseas income you might have form overseas to the Indian Tax authority.
Imagine if you are engineer providing design services to a UK company! or in this case providing financial trading knowledge to a overseas company.
I believe some prop firm and perhaps big banks do have such offices in India
one I heard is futures first ( they trade futures).
But Be mindful if ANYBODY ASK FOR ANY DEPOSIT and it involves overseas trading then IT CAN BE DEEMED AS LEVERAGED TRADING OVERSEAS

BY the way a Resident Indian is allowed by RBI to "invest" in stock up to USD 250,000 per year
be it real state or stock.
 
Thanks, this was really helpful. Yes this way it is purely an outsourcing activity to US from being in India. There is a software firm out side India (non brokerage firm) which asks you to take test on a simulator. They asks for money every month for a simulator account (not a real money account but real market data) to provide access to a simulator...they offer courses too but that is optional....once you pass the simulator test(B)...they offer job to OTHER firm which is a BROKERAGE firm outside India. Now there, in this brokerage firm, you are being hired for trading using capital of the firm and get share of trading profit (performance) BUT you need to pay the data fees every month. .so now questions are... (1) is it okay legally, to pay data fees for a simulator account and pay ONE TIME COURSE fee to the SOFTWARE FIRM outside india(who is not actually a brokerage firm).? Course fees amount is almost 7-8 times higher than that of data fees per month. Such money transaction for data fees data fees AND courses is okay legally. Since course fees are a higher amount will data fees + course fees both gets treated as some kind of deposit? Or paying only data fees per month is safe? since only data fees is a smaller amount. Or this gets treated as some kind of deposit? ....
once you pass simulator test then (2) is it safe to pay ONLY data fees when you are hired by ANOTHER BROKERAGE firm outside india as a trader? Will this data fees be considered as deposit of any kind? The brokerage and firm doesn't offer any courses, so no questions about the course amount being transferred. the last question is (3) this way, since you are trading on others money.. (out side India's trading firm's money) ..do you need to pass any Indian exams / get certificate of any kind in India for any legal regulation? (4) by the way the firm offers US equity and forex both....but I am interested in equity because of so many restrictions on forex from India. I thought the restrictions were only for forex..but when you said "Leveraged instruments" then I think US equity program will also fall in this category ..as I assume the firm will be using leverage for providing access to their capital using leverage for their US equity program. I have asked so many questions out of my confusion..your guidance regarding my questions above will be really helpful. If you know any legal / tax consultant in India who can help me in this, please do let me know. Because the people, at least whom I have approached (CA and other tax consultant) don't know about this. Thanks !
 
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OK SO YOU ARE TALKING ABOUT "pay for test and hope to get funded" kind of firm like TST one up, T3 etc
and NOT a true prop where you are hired purely on your talent ! no test no all that Bullshit about take our course first etc!
any way that is your choice if to get in to that kind of firm/ arrangement

Coming back to costs involved in what you are describing it is a grey area with above model

( I am not an accountant so please don;t take this an advice)
1) fees for any courses outside India = I guess it would be treated like any other education, but weather you can claim that as a cost against any future Income is really a Indian tax question
2) fees for tests ( sim account ) again grey area
3) ongoing data fees! again grey area
4) If the US firm is regulated broker dealer trading in equity then you may need series 7 etc in US
If this was purely a true recruitment , outsourcing to you in India then there is not a question of money going out of India only money coming in
Sorry can't really help much
 
traderjo said:
OK SO YOU ARE TALKING ABOUT "pay for test and hope to get funded" kind of firm like TST one up, T3 etc
and NOT a true prop where you are hired purely on your talent ! no test no all that Bullshit about take our course first etc!
any way that is your choice if to get in to that kind of firm/ arrangement

Coming back to costs involved in what you are describing it is a grey area with above model

( I am not an accountant so please don;t take this an advice)
1) fees for any courses outside India = I guess it would be treated like any other education, but weather you can claim that as a cost against any future Income is really a Indian tax question
2) fees for tests ( sim account ) again grey area
3) ongoing data fees! again grey area
4) If the US firm is regulated broker dealer trading in equity then you may need series 7 etc in US
If this was purely a true recruitment , outsourcing to you in India then there is not a question of money going out of India only money coming in
Sorry can't really help much
More...

Yes I have confirmed with them that as per US law, series 7 will be required for people residing in US but not applicable to a trader outside US even though he is trading on the account of US people (prop trading).

Similarly, I guess in India, for Indian exchange and trading on account of other people one may need Indian exams for stock broking for stock broker (not sure about trader or job as a tradrr). Also I am not sure if such exams are applicable for being hired as a trader for US firm as in this case you are providing services for trading for US equity market.
 
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