IFSC client eligibility limits financial services to specified non resident and FEMA eligible resident categories, with compliance duties. IFSC intermediaries may provide services only to defined client categories: non residents, non resident Indians, Indian financial institutions eligible under FEMA for outward investment, and residents eligible under FEMA to remit abroad under the Liberalized Remittance Scheme, subject to Board minimum investment and RBI guidelines. Intermediaries must appoint a senior management Designated Officer for regulatory compliance. Investment advisory and portfolio management require similar client eligibility with an added net worth threshold for resident clients. Portfolio managers may invest in IFSC listed securities, securities of IFSC incorporated companies, and securities of foreign jurisdiction companies.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
IFSC client eligibility limits financial services to specified non resident and FEMA eligible resident categories, with compliance duties.
IFSC intermediaries may provide services only to defined client categories: non residents, non resident Indians, Indian financial institutions eligible under FEMA for outward investment, and residents eligible under FEMA to remit abroad under the Liberalized Remittance Scheme, subject to Board minimum investment and RBI guidelines. Intermediaries must appoint a senior management Designated Officer for regulatory compliance. Investment advisory and portfolio management require similar client eligibility with an added net worth threshold for resident clients. Portfolio managers may invest in IFSC listed securities, securities of IFSC incorporated companies, and securities of foreign jurisdiction companies.
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