Paypal has finally got the green signal from the RBI to resume services subject to certain constraints. Paypal will be allowing Indian freelancers to withdraw funds soon. However, there is a rider!  They have to enter an export code before they are permitted to withdraw. Paypal does not say who will issue the export code but says that this is required by Indian laws.  The reality is that every freelancer in India will now have to apply for the Export code under the Foreign Trade (Development and Regulation) Act 1992 and get the Exporter-Importer code number issued before they can withdraw money from Paypal! That could take months! There are also a number of other laws which will come into play for the exporter of goods and services–RBI, FEMA, Service tax act and so on.

So I would like to advise my fellow Indian freelancers to get cracking and find out what compliance with these laws imply and how to go about  complying with the laws and getting the numbers you require for continuing to operate. I shall keep you updated from my blog http://www.consult4content.com/blogs. So stay tuned in.