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How Indian Traders Avoid Paying Taxes LEGALLY!

P R Sundar2022-10-08
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💫 Short Summary

The video explores how high net worth individuals avoid taxes in India by moving to tax-free countries like Dubai, utilizing strategies such as obtaining Golden Visas and maintaining tax residency. It discusses the benefits of becoming foreign portfolio investors and setting up companies in Dubai to trade in derivatives. The speaker considers relocating to Dubai for tax-saving purposes and emphasizes the importance of conducting all activities legally. Viewers are invited to contact the speaker's office for more information on tax-saving strategies.

✨ Highlights
📊 Transcript
Tax evasion by high net worth individuals in India through relocation to tax-free countries like Dubai and Singapore.
02:25
Dubai is highlighted as a tax-free country with a currency linked to the dollar, making it financially appealing.
The concept of a Golden Visa is explained, providing residency for property investors or high earners.
The video points out the burden of taxes falling on middle and lower-class citizens in India, while the wealthy find ways to avoid them.
Reasons for choosing Dubai as a tax haven include cultural ties, safety, and financial benefits.
Strategic tax residency between Dubai and India.
04:06
Staying in Dubai for over 180 days allows individuals to obtain a tax residency certificate and avoid double taxation.
Tax residency certificate enables trading in derivatives in India without paying tax under the double taxation avoidance treaty.
Registering as foreign portfolio investors in India helps individuals avoid income tax on derivative income, while capital gains tax still applies for cash market profits.
Individuals renounce Indian citizenship for citizenship in other countries through property investment or donations.
08:05
Becoming a foreign portfolio investor and the implications of holding an OCI card are explained.
Setting up a company in Dubai with foreign partners to trade in derivatives as foreign portfolio investors is detailed.
Restrictions on transferring money for speculative trading are mentioned.
The LR scheme for remittances is highlighted.
Consideration of giving up OCA card and relocating to Dubai for tax savings.
11:43
Difficulties in transferring money but confidence in receiving financial help from various sources.
High cost of living in Singapore due to taxation, considering Dubai as an alternative.
Viewers invited to contact office for legal tax-saving strategies, emphasizing importance of legality.
Speaker concludes by thanking viewers and emphasizing not engaging in illegal activities.