Nearly a third of Indian startup founders surveyed are considering moving abroad
tech.economictimes.indiatimes.com
Nearly a third of Indian startup founders surveyed are considering moving abroad
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Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#2mera desh badal raha hain.
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#3What would be their primary destination of choice, and what are the major factors preventing them from moving?
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#4What would be their primary destination of choice, and what are the major factors preventing them from moving?
The article says that the primary choices are USA, UK and Singapore.
I've seen a few companies register in USA, Singapore and Ireland. Primary destination would obviously vary based on the founder preferences, nature of the business, location of customers, etc.
I think the major factors preventing them from moving would be lack of knowledge / fear of the unknown, residing in India with profits accumulating abroad and immigration uncertainties.
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#5What would be their primary destination of choice, and what are the major factors preventing them from moving?
For us, its Singapore, low taxation rates, what we understand is low compliance and supports online operations. Proximity to India (5 hours by flight) makes it an ideal destination.
Factors Preventing - Nobody in my circle has this setup, making me worried about unknown challenges - Double Taxation issue. I am not clear what will be taxation liability, I have talked to multiple CAs and they all say multiple things - Transfer of IP - We are a product company and one of the CAs warned us that if we move IP of the product to the Singapore entity, it gets tricky to explain as IP was built with an Indian entity. Very gray area about this
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#6What exactly "startup-friendly tax regime" does Singapore have and India doesn't?
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#7What exactly "startup-friendly tax regime" does Singapore have and India doesn't?
https://inc42.com/features/the-curse-of-angel-tax-travelkhan...
In addition to incidents like these, corruption is widespread in India. Exports qualify for GST exemption or refund, but in practice refunds are hard to get (at least without a 5% or more bribe).
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#8That’s unfortunate.
India should become an economic superpower in the next 25 to 50 years.
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#9What exactly "startup-friendly tax regime" does Singapore have and India doesn't?
I think Singapore does not apply capital gains tax for one. Has a simple corporate tax slab of %17 unlike India.
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#10That’s unfortunate. India should become an economic superpower in the next 25 to 50 years.
That would require broad adoption of Indian products and services outside of India.