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NRI, Foreign Nationals and Foreign Institutional Investors can get access to investment opportunities in India
Investments can be made in global currency such as USD
In case of Foreign Nationals and Foreign Institutional Investors, no requirement of obtaining Foreign Portfolio Investor’s (FPI’s) license with India’s Securities Market Regulator
No requirement to open bank account in IFSC-GIFT City. Investors can remit funds from their foreign bank accounts directly to the Fund’s bank account in GIFT City.
In case of Non-Resident Investors who do not have PAN in India, shall not be required to apply PAN in India
In case of Non-Resident Investors who do not earn any income in India other than income from investment in the Fund located in IFSC, shall not be required to file Income Tax Return in India
No requirement to open Demat account in IFSC-GIFT City
No requirement to open bank account in IFSC-GIFT City. Investors can remit funds from their foreign bank accounts directly to the Fund’s bank account in GIFT City.
| Parameters | Singapore | Mauritius | IFSC – GIFT City |
|---|---|---|---|
| Capital gains on shares | Taxable as per domestic law | Taxable as per domestic law | Category II AIFs: Taxable as per domestic law (subject to Tax Treaty benefits) |
| Capital gains on other securities | Not taxable in India | Not taxable in India | Category III AIFs: Taxable as per domestic law Category II AIFs: Taxable as per domestic law (subject to Tax Treaty benefits) |
| Withholding | Applicable | Applicable | Category III AIFs: Exemption from tax for non-resident investors on certain streams of income Category II AIFs: Applicable |
| Treaty eligibility condition and MLI | To be complied, including principal purpose test under MLI | Only Treaty Eligibility to be complied | Category II AIFs: To be complied, including principal purpose test under MLI (where applicable) |
| GAAR / Commercial substance | Relevant | Relevant | Category III AIFs: Not applicable Relevant |
| India Tax leakage on management fees | Not applicable. Also no GST applicable | Not applicable. Also no GST applicable | Exempt - Tax holiday of 10 years to IFSC Manager Also no GST applicable |
| Indirect transfer | Depends on residency of the investor in the fund – Singapore based not taxable, assuming Tax Treaty benefits available | Depends on residency of the investor in the fund – Mauritius based not taxable, assuming Tax Treaty benefits available | Not applicable (subject to conditions) |
+91 7777936531
info@rysawealth.com
Principal Officer: Hitesh Thakkar
hitesh.thakkar@rysawealth.com
+91 9327692741
Compliance Officer: Jyoti Gupta
jyoti.gupta@rysawealth.com
+91 7268980320
Office No. 415B, 4th Floor, Savvy Pragya Tower, Block No.15, Zone 1, Road 1C, GIFT-SEZ, GIFT City, Gandhinagar- 382050.