Finance company classification excludes deposit-taking entities and Banking Units while recognising incorporated entities undertaking permissible financial activities. A Finance Company and Finance Unit may undertake permissible financial activities only if they do not accept public deposits from residents or ... Summary
International Financial Services Centres Authority Act, 2019
Finance company classification excludes deposit-taking entities and Banking Units while recognising incorporated entities undertaking permissible financial activities.
A Finance Company and Finance Unit may undertake permissible financial activities only if they do not accept public deposits from residents or non-residents and are not registered as Banking Units. Aircraft Lease and Ship Lease include operating, financial, and hybrid leases of the relevant assets, engines, and parts. Public deposit includes demand-repayable and term-deposit amounts raised from residents or non-residents. Owned fund is calculated from specified capital and reserve components after prescribed exclusions and deductions.
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