Lending to friend to India

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
User avatar
Hector
Posts: 1233
Joined: Fri Dec 24, 2010 2:21 pm
Contact:

Re: Lending to friend to India

Post by Hector » Thu Sep 12, 2019 12:10 pm

There is a difference between lending few thousands $$ to a friend in need anywhere in the world VS lending $100k to a friend for making money.
A lot of times its good not to mix friendship with business.

Boats day
Posts: 59
Joined: Thu Mar 06, 2014 11:39 am

Re: Lending to friend to India

Post by Boats day » Thu Sep 12, 2019 2:44 pm

one more vote for

DONT DO IT

Swimmer
Posts: 372
Joined: Tue Dec 29, 2015 4:24 pm

Re: Lending to friend to India

Post by Swimmer » Thu Sep 12, 2019 3:44 pm

Please tell me this isn’t an Internet romance. Have you seen 90 Day Fiancé?
Run.

AC9255
Posts: 2
Joined: Sun Mar 03, 2013 10:07 pm

Re: Lending to friend to India

Post by AC9255 » Thu Sep 12, 2019 4:38 pm

If you are intent on "lending" money to a friend do so with the expectation of never being payed back. When money and friendship is involved, expect to lose that friend. For me - if you are going to lose a friend over money, do so with your money still in your pocket as opposed to your money in their pocket. Do not lend money to friends.

Grt2bOutdoors
Posts: 21747
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: Lending to friend to India

Post by Grt2bOutdoors » Thu Sep 12, 2019 4:50 pm

cochlearboy wrote:
Mon Sep 09, 2019 2:49 pm
Bronko wrote:
Mon Sep 09, 2019 2:35 pm
You want to consider this little thing called the Patriot Act and the subsequent issues regarding banking and overseas money transfers. I'm not saying it can't be done. Expect headaches and hassles you haven't even dreamed of.
Well, I doubt that the poster will be suspected of supporting you-know-what, which would most certainly happen if this money were heading towards Afghanistan/Pakistan/Iran/Syria. There are a lot of american businesses that do business in India and vice versa, so the poster should be safe from G-men stopping by their home with lots of questions...
Yes, and when making investments in India, those very businesses you speak of have people on the ground in India who are interacting with Indian government officials to ensure that they don't run afoul of domestic regulations on the infusion of capital into a closed financial economy. Indian rupees are controlled by the central bank of India.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

Post Reply