News & Events

The Cayman Islands, a self-governing British Overseas Territory, is gaining traction as the new pitstop for Indian startups building software products for global markets. These software-as-a-service (SaaS) companies are increasingly looking to the Caribbean island as a flexible option to tap into capital markets, either at home or overseas.

According to multiple industry sources, the push to register these Indian SaaS startups in the tax-neutral Cayman Islands is being led by their venture capital backers, including prominent investor Accel Partners. This shift in preference is driven by the startups’ desire to have the flexibility to list in India, the US, or pursue a future dual listing.

Previously, the US was the preferred destination for most Indian SaaS companies, as the bulk of their customers were American entities. Freshworks was the first Indian SaaS company to list on American bourses, followed by other top players like Chargebee, Icertis, and Innovaccer.

However, this trend is now changing as the Indian stock markets become more attractive, and the bar for IPO in the US becomes more challenging. The Cayman Islands’ tax-neutral status and flexibility in managing complex global footprints make it an appealing choice for Indian SaaS startups.

However, experts caution that the Cayman Islands route is not without its downsides, such as the absence of a double taxation avoidance treaty with India and potential capital gains tax implications in the event of share swaps. The ecosystem needs to navigate these uncertainties carefully, as reverse flips or shifts in domicile can be a costly affair.

As Indian SaaS startups continue to expand their global footprint, the Cayman Islands’ emergence as a preferred domicile reflects the evolving landscape and the startups’ quest for flexibility and access to diverse capital markets.

Read the original article here: https://www.msn.com/en-in/money/markets/eye-on-ipo-shores-companies-set-sail-for-cayman/ar-AA1GyDIg?ocid=BingNewsVerp

In a significant move, SunCrypto, a leading Indian cryptocurrency exchange, has launched crypto futures trading with up to 75x leverage across more than 500 trading pairs. The platform now offers INR-based futures, eliminating the need for Indian traders to convert their local currency into stablecoins.

Recognising the growing importance of crypto derivatives, which now account for 60-70% of global crypto trading volume, SunCrypto is empowering Indian investors to capitalise on the high leverage and volatility of cryptocurrencies. By controlling larger positions with minimal capital, traders can amplify their returns and unlock new opportunities for wealth creation.

To incentivise adoption, SunCrypto is offering zero trading fees for the first month, further enhancing the profitability potential for Indian investors. The platform’s Futures Trading supports both INR and USDT pairs, with automatic USDT conversion at the time of trading, eliminating the need for manual conversions or P2P services. Suncrypto’s crypto futures trading platform is equipped with advanced risk management tools, including Stop Loss, Take Profit, Isolated Margin, and multiple order types. This feature set caters to both beginners and seasoned traders, providing an intuitive yet powerful platform for navigating the volatile crypto markets.

With this new offering, SunCrypto solidifies its position as a homegrown brand fueling India’s crypto vision. The platform’s roadmap includes the introduction of Cross Margin trading, social and copy trading features, and other innovative solutions to empower Indian investors in the rapidly evolving digital asset landscape.

Read the original article here: https://www.hindustantimes.com/genesis/suncrypto-launches-crypto-futures-trading-in-inr-0-fees-for-the-first-month-101749643091515.html