Former Infosys CFO Mohandas Pai has drawn the government’s attention to a new regulation by the Gujarat International Finance Tec-City (GIFT) regulator that prevents local family offices from setting up investment funds in the new finance hub. Mohandas Pai says this would hamper global investments. He shared his concern in a social media post on … Read more
The International Financial Services Authority (IFSCA), which regulates GIFT City, has proposed a reduction in the minimum ticket size for portfolio management services (PMS) from $150,000 to $75,000, or about ₹64 lakh at current exchange rates, according to a consultation paper released on Monday. This brings the minimum ticket size for PMS closer to the … Read more
The government will enable pooled private equity fund structures through VCCs, a system popular in tax-friendly jurisdictions such as Singapore and Mauritius. Mint explores the details of VCCs and how they are likely to be attractive to overseas investors. What are variable capital companies? Unlike typical funds where investors share risks and rewards uniformly, a … Read more
Not only will this amount to significant savings when buying foreign currencies for overseas travel, it will also make spending towards fees or investments abroad a much smoother process. That said, the money parked in Gift City foreign currency accounts can only be used for purposes permitted in the Liberalised Remittance Scheme. LRS allows resident … Read more