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Can you use cryptos to start up overseas?
Mint Mumbai
|July 01, 2025
I'm a resident Indian looking to incorporate a company in Dubai to provide fintech advisory services in the UAE.
A consultant there has informed me that I can set up the company in a free zone by transferring cryptocurrency as share capital, instead of using fiat money. What are the tax implications and risks of doing this, given my status as an Indian resident? -Name withheld on request.
Incorporating a company outside India, such as in a UAE free zone, does not by itself trigger any direct tax implications in India. However, when the capital contribution is made using cryptocurrency, the tax treatment becomes more complex.
This story is from the July 01, 2025 edition of Mint Mumbai.
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