SETTING UP OF A BATF SERVICE PROVIDERInternational Financial Services Centres Authority (Book-Keeping, Accounting, Taxation and Financial Crime Compliance Services) Regulations, 2024
SETTING UP OF A BATF SERVICE PROVIDERInternational Financial Services Centres Authority (Book-Keeping, Accounting, Taxation and Financial Crime Compliance Services) Regulations, 2024
IFSC business safeguarding conditions prohibit establishment through splitting, reconstruction, or reorganisation of existing Indian businesses. Regulation 8 requires an applicant to ensure that its IFSC business is not established by splitting up, reconstructing, or reorganising a business already ... Summary
International Financial Services Centres Authority (Book-Keeping, Accounting, Taxation and Financial Crime Compliance Services) Regulations, 2024
IFSC business safeguarding conditions prohibit establishment through splitting, reconstruction, or reorganisation of existing Indian businesses.
Regulation 8 requires an applicant to ensure that its IFSC business is not established by splitting up, reconstructing, or reorganising a business already in existence in India. The determination of whether an existing Indian business has been split up, reconstructed, or reorganised must follow the requirements in Part A of the First Schedule. The prohibition applies to each specified method of establishing the IFSC business.
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