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Corporate Laws Central Ministry of Finance International Financial Services Centres Authority Act, 2019

Facilitating investments by NRIs and OCIs into Indian securities through Schemes / Funds in an IFSC

02-May-2024 | F. No. IFSCA-IF-10PR/2/2024-Capital Markets

International Financial Services Centres has issued a circular on Facilitating investments by NRIs and OCIs into Indian securities through Schemes / Funds in an IFSC.

By virtue of the circular, SEBI has approved two alternative routes for increased participation by NRIs and OCIs in Indian securities through IFSC based FPIs:

a. Alternative route 1: NRI/OCI/RI investors may contribute up to 100% in the corpus of IFSC based FPIs where such FPIs will be required to submit copies of PAN (or other suitable documents in the absence of the same), of all their NRI/OCI/RI individual constituents, along with their economic interests in FPI to Designated depository participant.

b. Alternative route 2: NRI/OCI/RI investors may contribute up to 100% in the corpus of IFSC based FPIs without the FPI required to submit the above-mentioned documents, after satisfying the conditions as prescribed in circular.

Please refer the attachment for more information.

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