https://www.taxtmi.com/highlights?id=82556 This circular from SEBI modifies the Common Application Form (CAF) for Foreign Portfolio Investors (FPIs) based in International Financial Services Centres (IFSCs) in India. It allows up to 100% aggregate contribution by NRIs, OCIs, and RIs in the corpus of such FPIs, subject to certain conditions. The key points are: 1) A new option is added in the CAF allowing FPIs to confirm that aggregate NRI/OCI/RI contributions exceed 50% of the corpus, while ensuring compliance with regulations. 2) FPIs must provide details of NRI/OCI/RI constituents, their ownership/economic interest, PAN copies or acceptable alternative documents. 3) For non-individual constituents controlled by NRIs/OCIs/RIs or where they hold 50%+ ownership/economic interest, sim..... en-us Thu, 24 Oct 2024 10:33:25 +0530 Thu, 24 Oct 2024 10:33:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=82556 This circular from SEBI modifies the Common Application Form (CAF) for Foreign Portfolio Investors (FPIs) based in International Financial Services Centres (IFSCs) in India. It allows up to 100% aggregate contribution by NRIs, OCIs, and RIs in the corpus of such FPIs, subject to certain conditions. The key points are: 1) A new option is added in the CAF allowing FPIs to confirm that aggregate NRI/OCI/RI contributions exceed 50% of the corpus, while ensuring compliance with regulations. 2) FPIs must provide details of NRI/OCI/RI constituents, their ownership/economic interest, PAN copies or acceptable alternative documents. 3) For non-individual constituents controlled by NRIs/OCIs/RIs or where they hold 50%+ ownership/economic interest, sim..... Highlights SEBI Thu, 24 Oct 2024 10:33:25 +0530 https://www.taxtmi.com/highlights?id=82556