Groww, an Indian investment app, has become one of the first startups from the country to shift its domicile back to India from the U.S., signaling a broader trend among the local startup community.
A growing number of Indian startups, particularly in the fintech sector, are preparing to relocate their overseas holding entities to India in a bid to align with evolving local regulations, and to pursue domestic stock listings.
Many Indian startups, particularly those backed by Y Combinator, initially incorporated in the U.S. to gain better access to investors and capital in North America.
Bengaluru-based PhonePe moved its domicile to India in 2022 from Singapore. The Walmart-backed firm's move created a tax implication of nearly $1 billion to startup's investors, and Walmart paid most of the tax.
[
add
]
[
|
|
...
]