I want go India and the currency is Rupee.
1 US Dollar is worth £70.38 ($70.38) in India.
Let say I go to India, exchange my US $ to Indian rupees, and than buy a lot of REAL gold jelwery with Indian rupees.
Let say than I come back to New York and sell these REAL gold jelwery. If I sell these I will make a lot of money.
Is this illegal?
Most Helpful Guys
I dont think its illegal as long as you bring it for yourself + you gotta remember you have to declare it. And check the limits of everything you can bring into the country
Most likely the biggest issue will be customs or the reliability of your shipping service. You need to figure out if you can bring your stuff back. likewise, you might buy all that gold and have it stolen by a thief in transit. Then you just wasted your money.
Issues afterwards for you is probably legitimacy of the gold and the taxes from selling it.
On a side note I wonder if you considered the ethical issues involved. That jewelry would likely be made from the results of child labor or unfair work practices. Even worse if that jewelry was stolen in a crime like a robbery or a murder.
Most Helpful Girl
You might have to pay more in import duties than the profit you would make!