Mauritius funds likely to shift to Singapore for India investment

Entities owning 10% stake or more in funds originating from high-risk jurisdictions would be considered BOs

Ashley Coutinho Mumbai

Offshore funds from recently tagged high-risk jurisdictions such as Mauritius and Cayman Islands are likely to re-route their investments through Singapore, as the threshold for being deemed beneficial owner (BO) is much higher for the latter.
Mauritius, Cyprus, Cayman Islands, UAE and China are among 25 high-risk jurisdictions identified by global banks, acting as custodians for offshore funds.
“It is very likely that existing offshore funds from high-risk jurisdictions migrate to Singapore,” said Girish Vanvari, founder, Transaction Square, a tax and regulatory consultancy. “Investors will want to be in places which are genuine financial hubs and which have the capability to carry out financial activities.”

Also Read

Seniors seeking regular income should switch to debt funds from balanced

Readers' Corner: Mutual Fund

Duration funds in a spot over rate pause, yields hardening in past 6 months

Plug loopholes in alternative investment funds regulations: RBI to Sebi

Sebi puts plans to allow MFs to be sold via passporting on the back-burner

Arysta buy to make UPL the world's fifth largest crop protection company

For Biocon, regulatory nod to give boost to biosimilar monetisation

Britannia might replace HPCL in the Nifty 50 index, says brokerage

Fund houses jump ship ahead of ICICI Securities rout: All you need to know

Indian bourses fail to halt dragon march into Asian stock exchanges

First Published: Jul 10 2018 | 2:25 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers. Already a BS Premium subscriber?LOGIN NOW

Register to