INDIA INX

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Eligibility Criteria
As per SEBI circular on IFSC Guidelines Dated March 27th, 2015. Any recognised entity or entities desirous of operating in IFSC as an intermediary, may form a company to provide such financial services relating to securities market, as permitted by the Board.

Nature of clients.

  • Any intermediary permitted by the Board for operating within the IFSC shall provide financial services to the following categories of clients:
    • (I)a person not resident in India;
    • (II) a non-resident Indian;
    • (III) a financial institution resident in India who is eligible under FEMA to invest funds offshore, to the extent of outward investment permitted;
    • (IV) a person resident in India who is eligible under FEMA, to invest funds offshore, to the extent allowed under the Liberalized Remittance Scheme of Reserve Bank of India, subject to a minimum investment as specified by the Board from time to time:
      Provided that clients referred to in clauses (ii) to (iv) may be provided services, subject to guidelines of Reserve Bank of India.
  • Any intermediary permitted by the Board for operating within the IFSC shall, for the purpose of enforcing compliance with regulatory requirements, appoint a senior management person as "Designated Officer".
  • In order to avail investment advisory or portfolio management services in IFSC, the client shall be:
    • (I) a person resident outside India;
    • (II) a non-resident Indian;
    • (III) a financial institution resident in India who is eligible under FEMA to invest funds offshore, to the extent of outward investment permitted;
    • (IV) a person resident in India having a net worth of at least US Dollar one million during the preceding financial year who is eligible under FEMA to invest funds offshore, to the extent allowed in the Liberalized Remittance Scheme of Reserve Bank of India: Provided that clients referred to in clauses (ii) to (iv) may be provided services, subject to guidelines of Reserve Bank of India.