Eligible service recipients for trust services exclude high-risk jurisdictions while permitting specified IFSC special-purpose vehicle engagements.

Trust and Company Services Providers may serve non-residents from jurisdictions not identified as FATF high-risk jurisdictions subject to a call for action. Fifth Schedule services may be provided to an IFSC-based special purpose vehicle as the primary service recipient even where requested by, or benefiting, an Indian resident. A resident sponsor, originator, or financier is not thereby a service recipient, and contractual and fiduciary obligations remain solely with the special purpose vehicle under applicable service agreements.

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