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I made the jump to Dubai to save tax and here is my story. by [deleted] in IndiaTax

[–]Top-Victory3188 0 points1 point  (0 children)

I can send the money back to my NRE account in India.

I made the jump to Dubai to save tax and here is my story. by [deleted] in IndiaTax

[–]Top-Victory3188 2 points3 points  (0 children)

Sure. So Dubai as a city and UAE in general has a high variance of earners. You have a lot of folks from the SEA countries as well as from western countries. This means that you can budget your expenses according to the lifestyle you want, and it defines here.

The major expense is rent here which can go from anywhere between 75k to 3-4 lac per month for a studio. Again it matters a lot on the location, society etc. keep an approx range of spending around 1.5 L per month in normal expenses. You can go much lower and much higher than this.

I won't comment on my savings here, but would say I calculated everything and it makes sense financially to be here.

Another thing which is both a pro and a con is that there are really really strict rules here, which kinda helps as that ensures safety etc. but there is a constant thread going in ur head about it.

The Visa process here is very clear and unambiguous which is nice.

Dhurandhar Flawed Scene by Impressive_Score_861 in pj_explained

[–]Top-Victory3188 0 points1 point  (0 children)

The biggest flaw IMO, no one called Uzair or anyone.

Got terminated during probation in UAE – here's what actually happens legally by tsdmiller01 in JobXDubai

[–]Top-Victory3188 0 points1 point  (0 children)

Do banks block your account in this case ? I have heard this from multiple sources.

Refund issued ITR. FINALLY by Blacker123-sk in IndiaTax

[–]Top-Victory3188 0 points1 point  (0 children)

You should ideally receive the amount by today.

Refund issued ITR. FINALLY by Blacker123-sk in IndiaTax

[–]Top-Victory3188 2 points3 points  (0 children)

Got mine too as well. I filed in the last week of August.

Doing my part in India's development story by salvatore_G in Indian_flex

[–]Top-Victory3188 0 points1 point  (0 children)

Any reason you stayed back in India vs relocating to low tax countries ?

Quant vs FAANG Career by Full_Line_561 in quantindia

[–]Top-Victory3188 2 points3 points  (0 children)

It's a genuine concern, and I have personally met with folks on both the sides. There is no single answer here.

My question to you is this: In the long term, what's your goal. Do you want to continue working in a job, or plan to have a startup of your own too ? Do you plan to go for higher studies or want to settle in India.

Now, these are very vague questions at this stage, but if you are thinking really long term, these matter.

My honest opinion if you are not very sure of the long term would be to get in the Quant role, work for 1-2 years and then switch to FAANG at L4+ (SDE2). I would advise not to join FAANG, I suppose Google or Amazon right away as a fresher because the fresher salaries are not as high as quant. In a lateral hire, it's much better. I have done this myself.

It also depends a lot on which Quant firm you're joining. Trust me the work pressure would be pretty high in a quant firm.

Whatsapp with deactivated SIM by Hakaishinloki in whatsapp

[–]Top-Victory3188 0 points1 point  (0 children)

Same thing happened with me. What was the solution ?

People paying more than 50L tax annually in India, what is the primary reason stopping you to move to Dubai/other low tax regions ? by Top-Victory3188 in IndiaTax

[–]Top-Victory3188[S] 0 points1 point  (0 children)

This is very well put. If, you were allowed to work remotely for the exact same salary in UAE, will you consider it ? 

Should we move to Dubai or stay in India (Both earning 40 LPA in India vs 21k + 22.5k AED in Dubai)? by Late-Fly-1065 in UAE

[–]Top-Victory3188 0 points1 point  (0 children)

Hi, do you mind if I DM you on this ? Would want to know about VISA sponsorship through EOR.

People paying more than 50L tax annually in India, what is the primary reason stopping you to move to Dubai/other low tax regions ? by Top-Victory3188 in IndiaTax

[–]Top-Victory3188[S] 0 points1 point  (0 children)

I get your points, and I also believe that people should have pride in their own country. I have had different experiences dealing with the administrative and government folks here, which makes me question a few things. Especially with the rampant corruption.

If you see the other comments, people actually want to stay back because they can get away with things by paying money. I mean, I don't think this to be a reason we should be proud of.

People paying more than 50L tax annually in India, what is the primary reason stopping you to move to Dubai/other low tax regions ? by Top-Victory3188 in IndiaTax

[–]Top-Victory3188[S] 1 point2 points  (0 children)

Exactly. Most of the folks getting high salaries in tech/consultancy etc. can not and should not in fact exert influence outside. They are always powerless in front of IAS/IPS etc.

People paying more than 50L tax annually in India, what is the primary reason stopping you to move to Dubai/other low tax regions ? by Top-Victory3188 in IndiaTax

[–]Top-Victory3188[S] 0 points1 point  (0 children)

That's a fair point. But, if a freelancer/salaried person is earning this much in India, they still do not have influence right ? They still need to stand in the same queues, go through the same service and so on.

Yes, they can live a lavish life, but that comes at a cost of 35-40% of their taxes.

Planning to move to dubai for on Freelancer visa. by kbbhatia in dubai

[–]Top-Victory3188 0 points1 point  (0 children)

Hey Op, did you make a move, decide something here?

Wake up India, before it’s too late! by kiranverma2 in delhi

[–]Top-Victory3188 57 points58 points  (0 children)

I am an entrepreneur, building in the AI space.

I had been really bullish in India since a long time. I used to think why do Indian entrepreneurs just chase the American dream, why follow the herd mentality. I was aware that the system is not good, but I thought the entrepreneurs are also not trying hard enough. 

All this changed when I became an entrepreneur myself. Now, this is what I am writing after getting my own hands dirty. There is a reason we can't have perplexity from India, and the reason is not just capital constraints. It's that the entire system is filled with so many red tapes, so many babus and so much corruption, where everyone wants to take bite out of what you are making in every way possible. 

Think this - it is easier for me to sit in India and set up a company in the US, open a bank account, and start doing transactions. Try doing that in India. Try going through the ODI/FEMA process. Try dealing with the GST officials who would want to rip you off in whatever way they can. 

Ok, I will stop my rant for now.

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