Effective 7 April 2020, SEBI has amended their FPI Regulations, 2019 to provide that FPI applicants from a non-FATF member country may also qualify for a Category I registration provided such country is specified by the Indian Central Government for this purpose or the Indian Central Government enters into an agreement or treaty with such country.
The Indian Ministry of Finance issued an order on 13 April 2020 stating that Mauritius is now an eligible country for the purpose of registering for a Category I FPI license.
With this order from the Central Government of India, Mauritius based funds will now be able to register for a Category I FPI License and therefore benefit from the numerous advantages available to Category I FPIs, including:
- Exemption from indirect share transfer provisions;
- Higher derivative position limits;
- Ability to issue and subscribe to Offshore Derivative Instruments (ODIs - such as Participatory Notes or Total Return Swaps) backed by underlying Indian securities; and
- Lower KYC documentation
What UK employers need to know about IR35 changes
26 Jan 2021
What private sector businesses need to know about upcoming IR35 changes Register Now 26 January 2021 | EMEA 11AM GMT | Americas 1PM EST If your business hires contractors or temporary workers in the UK, you’re…
CFO Podcast: Major Trends in the Corporate Services Industry for 2021
06 Jan 2021
Is outsourcing now at the heart of priorities for Real Estate?
21 Dec 2020
Top 10 webinars of 2020
15 Dec 2020
Simon Morgan shortlisted at the Citywealth IFC Awards
18 Dec 2020
What should entrepreneurs and families consider before moving to the UK?
09 Dec 2020