level too i would end up paying a corporate tax of close to 35 in india but my biggest reason for moving is the constant harassment by agencies regulatory hurdles rade tape and the fear that the authorities will come chasing after you with regressive tax laws said a venture capitalist on condition of anonymity who moved base to the uae in 2020on income over rs 1500000 india imposes a 30 percent personal income tax which can rise to 40 percent with a surcharge and longterm capital gains taxease of moving in and out of the countrythe hope for a better standard of living fused the desire for a stronger passport are major facets among others that are driving the wealthy tech founders outside the indian subcontinent according to the henley private wealth migration dashboard the islamic state is set to pull the largest inflow of high net worth individuals internationally this year at least 4000 a dramatic increase of 208 versus 2019s net inflow of 1300 and one of its largest on record this mirrors the countrys rise in the henley passport index rankings too over the past decade as it focused on attracting tourism and trade by implementing mutually reciprocated visa waivers the uae is now doing the same with its competitive agile approach to adapting immigration regulations to attract private wealth capital and talent said the henley global citizens report a new generation of tech entrepreneurs have become increasingly savvy about wealth preservation and growth they are keen to diversify a portion of their wealth in jurisdictions offering a slew of incentives and high tax efficiencies reasons closer to home are driving this movement the appeal of a higher standard of living including better educational and health facilities for the family continues to be a key driver perhaps even more so in the wake of covid increasingly stringent tax residency rules introduced in 2020 and 2021 with no relief in individual taxation rates for highnetworth individuals coupled with a desire for visafree travel are also consistent primary motivators for alternative residence and citizenship said bijal ajinkya a partner in the direct tax private client and investment fundsduring the pandemic holders of the golden visa were not subject to bans or barriers to returning to the uae if they were stuck overseas which is why perhaps at least threee indiabased executives at sequoia capital also moved to dubai during the time where they got long term permits to move freely in and out of uaemoreover at least a dozen prominent indian startup founders and investors have relocated to dubai kunal shah of cred vijay shekhar sharma of paytm oyo ceo ritesh agarwal edtech unicorn byjus founder and ceo byju raveendran reportedly have golden visas even though this cannot be confirmed on record earlier this year nischal shetty and siddharth menon the founders of indian cryptocurrency exchange wazirx also shifted base to dubaibetter access to international investors for fund raising and future ma opportunitiesgiven the lengthy enforcement