Deposit from overseas which inherited from mum

diggingdude

masud0174 wrote: »

As an evidence, i can provide my Bangaldeshi bank account statement which will show the fund is available.

And google will tell solicitor it cant be withdrawn here

Jono111

If you were to receive 40 £1000 transfers into your account then your bank would probably suspend your account and investigate it for money laundering.

masud0174

GDB2222 wrote: »

I am not, by any means, an expert on the anti money laundering rules. However, if the money is illegally exported from Bangladesh, then that is a crime, and the money once it is over here is the proceeds of that crime. Washing it into a legally owned property is then, indeed, money laundering.

Please note that this is my money.

Therefore, I am not washing it.

[Deleted User]

Jono111 wrote: »

If you were to receive 40 £1000 transfers into your account then your bank would probably suspend your account and investigate it for money laundering.

That is a real danger if the OP can find some mules to move the money. The bank could freeze the transactions and investigate.

General_Grant

The only legitimate method I can see would be if the person paying into your UK bank account from their UK bank account was doing so from their UK funds and you were allowing them access to the money in Bangladesh to use in that country.

Sea_Shell

If there is no legal way to get the money out of Bangladesh, then it may as well not exist, as far as being able to use it in the UK.

Do visitors to the UK have to exchange their money into Stirling before they leave the country???

masud0174

If I travel a few times from Bangladesh to the UK; I can legally carry 10,000 euro each time according to the UK rules, then I will deposit it into my account cash in the UK.

How does it sound?

Davy_Jones_II

GDB2222 wrote: »

But this whole transfer is illegal, at least in Bangladesh. Should you be asking a solicitor about it, and will he have to make a money laundering report if you do?

Oh, come on, it’s only a bit of money laundering, fraud, and tax avoidance...

Davy_Jones_II

masud0174 wrote: »

Please note that my money is not illegal, and I am not trying to do anything illegal.

There are restrictions in Bangladesh about sending money overseas.

Therefore, I am looking for advice before bringing money in the UK.

If Bangladesh do not allow you to move your money out of the country then of course it is illegal for you to circumvent the law by hiding what you are doing.

kdotdotdotdot

masud0174 wrote: »

If I travel a few times from Bangladesh to the UK; I can legally carry 10,000 euro each time according to the UK rules, then I will deposit it into my account cash in the UK.

How does it sound?

Yes, that's possible. You could also look at Western Union transfers (they're often pricy but fees may compare favourably to flight tickets).

The reason you're getting harsh responses from here is that I suspect the other posters have never lived in a country where banks have foreign currency restrictions and they have no understanding of what it's like. I've lived in the Middle East,working alongside expats from India, Bangladesh, The Philippines and over the years I've seen every thinkable option of getting legitimate money from one place to another.

Two things to bear in mind:

1. You're still going to have to show proof of source of funds for the £40,000 once it's in your UK account. As another poster has said, if the money's been in your account for six months, then you'll probably be ok, but it's not guaranteed.

2. The legality of that money once in the UK. I'm not a lawyer so you need to check whether you should be paying tax on this sum of money. I think you're below the threshold for inheritance tax, but knowing our government, there's probably at least one tax you need to pay on this money. That needs to be done in order for you to be fully legit.

[it goes without saying that you also have to ensure you've paid all relevant taxes etc in Bangladesh]