SEBI prescribes conditions for on-boarding investors for foreign investment in AIFs
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- Last Updated on 13 December, 2022
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Circular No. SEBI/HO/AFD-1/PoD/P/CIR/2022/171, Dated 09.12.2022
In terms of Regulation 10(a) of SEBI (AIFs) Regulations, 2012, AIFs may raise funds from any investor whether Indian, foreign or non-resident Indians, by way of issue of units. Now, the SEBI has prescribed that the manager of an AIF shall ensure that the foreign investor of the AIF is a resident of the country whose securities market regulator is a signatory to IOSCO’s multilateral MoU.
SEBI also clarified that the investor or its underlying investors contributing 25 % or more should not belong to the jurisdiction which has anti-money Laundering or combating the financing of terrorism deficiencies or such jurisdiction has not made sufficient progress in addressing the deficiencies. This circular shall come into force from 09.12.2022.
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