Looking for alternative to Dubai / UAE for tax residence reasons as an Indian citizen.
So far I'm using a Merchant of Record (MoR) to sell digital goods and services to Non-Indian customers, mostly to Europeans. Now I want to grow my business and later hire others too. So need to setup a company and I don't feel like to live in India anymore (coz reasons) and don't want to deal with Indian bureaucracy. I'm thinking to setup Estonian company using e-residency card, as most customers are in Europe and I'm hoping to move to Europe long term. But but India have Overseas Direct Investment (ODI), Permanent establishment (PE) / Place of Effective Management (PoEM) rules and regulations, so I'm skeptical about this idea. Better to change my tax resident outside India then setup Estonian company?
My options are:
1) Pitch my business to Estonian Startup Committee for Startup Visa as a founder. Over promise them even tho my business is not that impressive, nor I want to raise fund. If I get their approval, getting Estonian D-visa to setup company would be easy. This is the ideal scenario.
If this fail then:
2) Apply for resident permit for business which need €65,000 investment in Estonian company. I don't have that much right now. So in the meanwhile change my tax resident to third country, then setup Estonian company and grow revenue till I can cross that limit, then apply that resident permit. For tax residency, Dubai / UAE is good option for Indian citizens as every other Indian is going there. but I don't find living in Dubai that appealing, so any other country which is easy to get tax residency. I don't mind paying some tax. ;-;
if that's not feasible then:
3) Just setup Estonian Company. Move/travel to other countries on tourist visa, never stay in India for more than 60 days. Keep paying personal tax tho. Stay under the radar till I get enough fund to apply for Estonian resident permit.
Am I overthinking or do you have better plan for me?
So far I'm using a Merchant of Record (MoR) to sell digital goods and services to Non-Indian customers, mostly to Europeans. Now I want to grow my business and later hire others too. So need to setup a company and I don't feel like to live in India anymore (coz reasons) and don't want to deal with Indian bureaucracy. I'm thinking to setup Estonian company using e-residency card, as most customers are in Europe and I'm hoping to move to Europe long term. But but India have Overseas Direct Investment (ODI), Permanent establishment (PE) / Place of Effective Management (PoEM) rules and regulations, so I'm skeptical about this idea. Better to change my tax resident outside India then setup Estonian company?
My options are:
1) Pitch my business to Estonian Startup Committee for Startup Visa as a founder. Over promise them even tho my business is not that impressive, nor I want to raise fund. If I get their approval, getting Estonian D-visa to setup company would be easy. This is the ideal scenario.
If this fail then:
2) Apply for resident permit for business which need €65,000 investment in Estonian company. I don't have that much right now. So in the meanwhile change my tax resident to third country, then setup Estonian company and grow revenue till I can cross that limit, then apply that resident permit. For tax residency, Dubai / UAE is good option for Indian citizens as every other Indian is going there. but I don't find living in Dubai that appealing, so any other country which is easy to get tax residency. I don't mind paying some tax. ;-;
if that's not feasible then:
3) Just setup Estonian Company. Move/travel to other countries on tourist visa, never stay in India for more than 60 days. Keep paying personal tax tho. Stay under the radar till I get enough fund to apply for Estonian resident permit.
Am I overthinking or do you have better plan for me?
