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What about finding workers and payroll costs?
A lot of India based SaaS companies register in Singapore or USA while keeping their entire dev team (and sometimes even the rest of it: sales, marketing, support, etc) in India. The incentives being ease of international transactions, capital / debt availability, simpler tax policies.
[1] https://tech.economictimes.indiatimes.com/news/startups/indi...
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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 -…
What about finding workers and payroll costs?
We need to file taxes in India for operations done in India, yeah so that actually means that we are increasing the overhead of compliance (adding Singapore compliance). Benefits are better funding opportunities, lesser taxation and financial tools to work for your startup.
Earlier quoted context omitted.
A lot of India based SaaS companies register in Singapore or USA while keeping their entire dev team (and sometimes even the rest of it: sales, marketing, support, etc) in India. The incentives being ease of international transactions, capital / debt availability, simpler tax policies.
You'd still need to file taxes in India right?
India is becoming a popular destination for foreigners to chase their startup dreams[1]. Same source. [1] https://tech.economictimes.indiatimes.com/news/startups/indi...
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India is predicted to be #3 by 2050, almost equaling the US: https://www.theatlantic.com/business/archive/2012/02/the-wor...
It can be a large economy, in part because there are 1.3bn inhabitants, but my point is that people consume services provided by Indian companies largely because they are cheap.
What 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 -…
What 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.
That’s unfortunate. India should become an economic superpower in the next 25 to 50 years.
What 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).