Set up in 2015, International Financial Services Centre in GIFT City has attracted international and domestic players across the financial services spectrum, such as banks, asset management companies, alternate investment funds and professional services firms.
›Light touch regulations, additional leeway for fund managers, ring-fencing liability on the anvil for VCC structure in IFSC
Light touch regulations, additional leeway for fund managers, ring-fencing liability on the anvil for VCC structure in IFSC
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Light touch regulations, additional leeway for fund managers, ring-fencing liability on the anvil for VCC structure in IFSCBy
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Synopsis
A committee set up by the International Financial Services Centre (IFSC) on Variable Capital Company (VCC) has recommended light touch regulations , extending additional facilities to fund managers and a separate regulatory framework among other things, according to people close to the development.
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Under the current rules, a Foreign Portfolio Investor(FPI) who is based out of overseas jurisdictions like Singapore, can shift base to IFSC and avail various tax sops available to the investors based out of IFSC.