ARTICLE · 22 JULY 2024

Ghar Wapsi – Reverse Flipping For Indian Startups: Expectations From Union Budget 2024

Economic Laws Practice

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The Indian startup ecosystem is undergoing a significant transformation, with reverse flipping gaining prominence. The Economic Survey 2022-23 highlighted favorable conditions for startups to relocate to India, supported by government initiatives.

IndiaTax

Arpita Choudhary

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The Indian startup ecosystem is undergoing a significant transformation, with reverse flipping gaining prominence. The Economic Survey 2022-23 highlighted favorable conditions for startups to relocate to India, supported by government initiatives. Founders are increasingly recognizing India's growth potential, coupled with global market challenges and ambitions for IPOs, leading to a focus on long-term stability in the home jurisdiction.

The International Financial Services Centre (IFSC) has been a cornerstone of India's ambition to become a global financial powerhouse, with a key objective to 'Onshore the Offshore.' As per a recent trend, startups are evaluating relocation of offshore holding companies to the IFSC through various methods. These include transferring shares of an Indian entity from the offshore holding company to the IFSC holding company, merging the offshore holding company into the IFSC, share swap, and re-domiciling the offshore holding company

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