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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.
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