Published Date : Jul 03, 2017
In the last few years, there has been a startling rise in the number of Indian startups looking abroad. While the UK, US, and Singapore has remained the popular hubs for Indian entrepreneurs, startup founders are exploring opportunities in Saudi Arabia, Israel, Qatar, South Korea, Estonia, Chile, Ireland, and Spain. There are several instances when startup owners, aiming for establishing businesses in the US, soon realized the high expenses attached with the same. Moreover, getting visa has become difficult, a key factor compelling them to look for other viable options.
Lengthy Registration Process in Developed Nations, Compel Startups Explore Opportunities Elsewhere
Considering bottlenecks that they may encounter while setting up startups in developed nations, the new entrants are swarming toward places such as Estonia, which offers favorable start-up programs. While they do not require personally visiting the Northern European country, they get access to a virtual address within weeks. Also getting a value added tax number is rather simple in the country. The ease of doing businesses in these countries and the fact that the companies can hire local talent without much hassles are the key factors attracting an increasing number of Indian startups.
Besides these, smaller startups, which managed commencing business in developed nation, are slowly moving toward countries such as Estonia, Saudi Arabia, Israel, and South Korea, as the governments in these nations offer favorable policies. Besides this, these countries offer benefits such as easy access to neighboring markets, zero tax, and minimal rent, which augur well for the companies still at a nascent stage.
Toward the end of 2015, a Hyderabad-based startup called CloudBoost signed up for Startup Chile, which is an eight-month accelerator plan for new-fangled companies in South American nations. Not only did the company benefited from an impressive stipend, they were also provided with mentorship, and easy access to businesses across Chile. Such favorable policies are attracting an increasing number of businesses toward these nations.