TaxTMI 
TaxTMI 
Overseas Investment in IFSC by person resident in India
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....ent in an IFSC in India within the limits provided in these rules . (2) A person resident in India may make Overseas Investment in an IFSC in the manner as laid down in Schedule I or Schedule II or Schedule III or Schedule IV: Except theses type of Investment (i) In the case of an ODI made in an IFSC, the approval by the financial services regulator concerned, wherever applicable, shall be de....
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....e, in IFSC if such entity does not have subsidiary or step down subsidiary outside IFSC where the resident individual has control in the foreign entity. (3) A recognised stock exchange in the IFSC shall be treated as a recognised stock exchange outside India for the purpose of these rules. Overseas investment in an IFSC in India by a person resident in India [ As per para 24 FED (Overseas Invest....
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....ity engaged in financial services activity by resident individuals, shall not apply to an investment made in IFSC. Such investment, however, shall not be made in any foreign entity engaged in banking or insurance. Such foreign entity in IFSC may have subsidiary/SDS in IFSC. It may also have subsidiary/SDS outside IFSC where the resident individual does not have control in the foreign entity. Resid....
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....C, the requisite approval by the financial services regulator concerned shall be decided within 45 days from the date of receipt of application complete in all respects failing which it shall be deemed to be approved Not engaged in Financial Services activity Subject to the guidelines issued by the respective regulator b) Not engaged in Financial Services activity Engaged in Financial Services....