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    <title>Operating Guidelines for Alternative Investment Funds in International Financial Services Centres</title>
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    <description>SEBI&#039;s operating guidelines permit AIFs established in an IFSC to register under the AIF Regulations subject to Chapter II application procedures and prescribed fees. AIFs may accept eligible IFSC investors and invest in India via permitted routes including FPI, FVCI or FDI consistent with applicable FDI/RBI policy. Schemes must meet minimum corpus and investor subscription thresholds, sponsors/managers must maintain a continuing interest (not via fee waiver), custodians are required in specified cases, and angel funds face distinct corpus, investor and investee eligibility constraints; reporting is in USD million.</description>
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