Finance Bill amendment eases Mauritius funds' path for India shift

Experts reckon up to 10 per cent of such funds could shift to the IFSC

Ashley Coutinho | Mumbai
Last Updated at March 26, 2021 06:10 IST

investors, investment, funds, FPI, FDI, market

Further, the Bill permits transferring securities not only from the offshore fund but also from the wholly-owned SPVs of the funds | Illustration: Binay Sinha

An amendment to the Finance Bill has allowed a wholly-owned special purpose vehicle (SPV) of an offshore fund to transfer securities to an International Financial Services Centre (IFSC) fund in Gujarat, while also enabling the IFSC fund to issue units either to investors in the offshore fund or to the offshore fund itself.

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