Hello,
A lot of startups by Indians have registered in Singapore and operate in india. Is it possible to open a company in Singapore which trades in global forex, derivatives and commodity markets and bring that money to India ? Even if under the LRS scheme initially ?
If you incorporate a company in Singapore, how will you invest in it? Through LRS? If you invest in a company that only trades derivatives using your LRS money, technically, it is still a FEMA violation. If you find investors in Singapore to fund it, there is technically no issue with that, but there might be regulations in Singapore around raising funds there.
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@nithin what if someone moves to Dubai and does trading in India … Dubai has no taxes … Is it possible ?
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Hmm…one advantage is one gets to access the US markets too
The article says you’ll still be taxed for income earned in India.
Thank you @nithin for the reply. Is there any route to trade global markets and bring money to India without giving up Indian citizenship ? Whatever the taxes in India, if one is ready to pay it.
Can the government exempt any trading company if it brings good foreign money to India as profits and invest in india by trading global markets ? There are 20 global exchanges which have great leverage and liquidity and it hurts not to get a pie there. Relocating is always an option, but I don’t wanna leave the country.
Hmm… this is kind of outside my core competency.
@somnath248 maybe speak to @TAXIQ.IN or @Quicko and respond to this?