No immediate plans to shift domicile to India, says Razorpay CBO

Razorpay has no immediate plans to shift the domicile of its parent entity to India from US, says Chief Business Officer Rahul Kothari.

“A lot of these discussions happen from a taxation and legal perspective. Some of those options are there but there is nothing concrete as of now,” he said. Razorpay had to domicile itself in US to raise funds from Y-combinator.

Kothari’s comment comes at a time when a flurry of start-ups have been reverse-flipping their country of domicile to India from other jurisdictions even as they face large tax bills in the process. Recently, online payments firm PhonePe moved its domicile to India from Singapore.