IFSCA Enables NRIs and OCIs to Invest in Indian Securities Through Schemes or Funds Established in IFSC
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- Last Updated on 6 May, 2024
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Circular No. F. No. IFSCA-IF-10PR/2/2024-Capital Markets; Dated: 02.05.2024
IFSCA has facilitated investments by NRIs and OCIs into Indian securities via schemes/funds in an IFSC. IFSCA, in discussion with SEBI has approved of two alternative routes for increased participation by NRIs and OCIs in Indian securities via IFSC-based FPIs.
Firstly, NRI/OCI/RI investors may contribute up to 100% in corpus of IFSC-based FPIs where FPIs are required to submit copies of PAN with other documents of all their NRI/OCI/RI individual constituents, along with their economic interests in the FPI to the DDP.
Secondly, NRI/OCI/RI investors may contribute up to 100% in the corpus of IFSC-based FPIs without the submission of the documents, subject to certain conditions.
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