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.
Click Here To Read The Full Circular
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