Simple question

[Juanpablo7]

Hi,

My country has no banking infrastructure.

How does a person living in USA or Europe move cash back to a country without using any bank transfers?
any forms of identification i would like to avoid for tax purposes.

The only thing i could come up with is owning assets such as gold and selling it in an another country.

Is there a legal way and is this possible at all?

I know there is a detailed way of doing this, and i am willing to listen to it.

Thanks

Juan

 

[Willblack]

You can always just use cryptocurrency, for example,buy Bitcoin in the US/EU in person and simply sell it at the country in question for cash/gold etc.

 

[Juanpablo7]

Alex115 said:
You can always just use cryptocurrency, for example,buy Bitcoin in the US/EU in person and simply sell it at the country in question for cash/gold etc.
Click to expand...

Thank you Alex

Unfortunately my country is a third world there's barely any vendors or exchanges I can sell my BTC to.

 

[JohnLocke]

Have you looked into the different EMI's available? List of Banks, EMI's, Payment processors and BTC to FIAT institutions.

What country are you from? Moving crypto should not be such a big problem but I understand it can be challenging to get it exchanged to FIAT.

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[KKS49]

Juanpablo7 said:
Hi,

My country has no banking infrastructure.

How does a person living in USA or Europe move cash back to a country without using any bank transfers?
any forms of identification i would like to avoid for tax purposes.

The only thing i could come up with is owning assets such as gold and selling it in an another country.

Is there a legal way and is this possible at all?

I know there is a detailed way of doing this, and i am willing to listen to it.

Thanks

Juan
Click to expand...

The thousands-year old way to leave no trace is Hawala. You have a guy (X) in Country A that needs to send money to Country B, and another guy (Y) in Country B that needs to send money to Country A. Instead of physically transferring the money, Y gives the money to X's choosing (in Country B) and X gives the money to Y's choosing (in Country A). This way the money has stayed within the country in both cases.

https://en.wikipedia.org/wiki/Hawala

 

[DSCorp]

Juanpablo7 said:
Thank you Alex

Unfortunately my country is a third world there's barely any vendors or exchanges I can sell my BTC to.
Click to expand...

Admin said:
Have you looked into the different EMI's available? List of Banks, EMI's, Payment processors and BTC to FIAT institutions.

What country are you from? Moving crypto should not be such a big problem but I understand it can be challenging to get it exchanged to FIAT.
Click to expand...

Would you mind saying saying which country? There are potential solutions for your problem along the lines what Admin and
Alex115 mentioned.

 

[Sols]

People in this situation usually use money remittance services with cash pickup at the destination. They are required to ask for ID, though.

If you want to avoid KYC, something like hawala is the only option really.

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This is the probably the answer to your question.

 

[Juanpablo7]

Camille Württemberg said:
The thousands-year old way to leave no trace is Hawala. You have a guy (X) in Country A that needs to send money to Country B, and another guy (Y) in Country B that needs to send money to Country A. Instead of physically transferring the money, Y gives the money to X's choosing (in Country B) and X gives the money to Y's choosing (in Country A). This way the money has stayed within the country in both cases.

https://en.wikipedia.org/wiki/Hawala
Click to expand...

Hi,

Yes i am familiar with Hawala, my country is Somalia we use the hawala system here however we have absolutely no banking infrastructure to send funds abroad to other well known banks, the current bank i am with only transfers IBAN through to a Kenyan national bank then to > abroad banks such as HSBC, Barclays, Citi etc and one Hong Kong bank only.

Banks around the world deem Somalia as third world and also the most dangerous country therefore doing business is tough. I want to change this if this is possible if ever... Diasporas abroad from Somalia are sitting on liquid cash of up to $100K or more through means of business and opportunity in the western world, but again they cannon't declare this as there's no way to transfer this back home.. only through use of Hawala and a limited form of cash transfer (up to $3K every 3 months due to Anti-Money Laundering) because of all this unnecessary bureaucracy in place the nation cannon't send money back home and grow it's true GDP.

I want to create or build some form of banking/Crypto infrastructure from the ground up if this is even feasible.

Thanks,

 

[KKS49]

Juanpablo7 said:
Hi,

Yes i am familiar with Hawala, my country is Somalia we use the hawala system here however we have absolutely no banking infrastructure to send funds abroad to other well known banks, the current bank i am with only transfers IBAN through to a Kenyan national bank then to > abroad banks such as HSBC, Barclays, Citi etc and one Hong Kong bank only.

Banks around the world deem Somalia as third world and also the most dangerous country therefore doing business is tough. I want to change this if this is possible if ever... Diasporas abroad from Somalia are sitting on liquid cash of up to $100K or more through means of business and opportunity in the western world, but again they cannon't declare this as there's no way to transfer this back home.. only through use of Hawala and a limited form of cash transfer (up to $3K every 3 months due to Anti-Money Laundering) because of all this unnecessary bureaucracy in place the nation cannon't send money back home and grow it's true GDP.

I want to create or build some form of banking/Crypto infrastructure from the ground up if this is even feasible.

Thanks,
Click to expand...

Hawala means there's no need for bank transfers at all. If you know people outside of Somalia who want to send money in Somalia and some importers in Somalia who need to pay their suppliers, you can easily setup an Hawala scheme.