Eligible service recipients permit qualifying non-residents and IFSC special purpose vehicles despite Indian resident involvement.

Trust and Company Services Providers may render services only to a Service Recipient that is a non-resident located in a jurisdiction not identified in the Financial Action Task Force public statement as a high-risk jurisdiction subject to a call for action. Services listed in the Fifth Schedule may be provided to an IFSC-based special purpose vehicle as the primary service recipient, notwithstanding Indian resident involvement. Contractual and fiduciary obligations are owed only to that special purpose vehicle.

---

---

---