Barcamp Pune-3: Setting up a global technology company
This is a follow up post of Barcamppune-3 makes my Saturday enjoyablein which I had promised to blog about session about Setting up companies in USA/Singapore/UK sitting in India.
Rohas Nagpal of Techjuris talked about how beneficial and easy it is to start tech companies in USA, UK and Singapore remotely sitting in India rather than opening a company in India.
Few points in favor of opening companies abroad are,
1. Immediate prestige and more customers
2. Very easy(2 hours/1 week, 6 days for UK, US, Singapore respectively) and quick to setup companies with almost zero upfront capital.
3. Help from respective embassies by approaching them with a tag of owner of a US based company. unlike Indian embassy working with which is a pain in the ass.
4. Taxation: ZERO % tax in US for all the revenue earned from customers who are outside US.(Tax in UK and Singapore is 35.4% and 28.8 % respectively)
5. The best part is you don't need any local director of US and not even a physical office in US!( Even UK requires no local director. Singapore needs one local director.)
Rohas elegantly presented the whole idea of setting up businesses remotely. the question that remains at the end of day is whether its easy to run the business remotely sitting in India?
Here is a link to video recording of the presentation,
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