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Overseas investment in IFSC enables residents to invest under specified rules, with regulator silence resulting in deemed approval. Overseas investment in an IFSC by persons resident in India is permitted under the Overseas Investment Rules and Regulations within prescribed limits and via Schedules I-IV. Regulator approval for ODI applications in an IFSC must be decided within the statutory period, failing which approval is deemed. Indian entities not engaged in financial services may make ODI in IFSC financial services entities (excluding banking and insurance) notwithstanding the net profit condition. Resident individuals may invest in IFSC entities as ODI subject to restrictions on subsidiaries outside the IFSC, contributions to IFSC funds are allowed as OPI, and IFSC recognised exchanges are treated as recognised outside India.
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.
<h1>Overseas investment in IFSC enables residents to invest under specified rules, with regulator silence resulting in deemed approval.</h1> Overseas investment in an IFSC by persons resident in India is permitted under the Overseas Investment Rules and Regulations within prescribed limits and via Schedules I-IV. Regulator approval for ODI applications in an IFSC must be decided within the statutory period, failing which approval is deemed. Indian entities not engaged in financial services may make ODI in IFSC financial services entities (excluding banking and insurance) notwithstanding the net profit condition. Resident individuals may invest in IFSC entities as ODI subject to restrictions on subsidiaries outside the IFSC, contributions to IFSC funds are allowed as OPI, and IFSC recognised exchanges are treated as recognised outside India.
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