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AIF registration comes down to a choice of regulator: SEBI (onshore) or IFSCA (GIFT City). Where investors are mostly Indian residents putting in rupees for Indian deals, the SEBI route generally involves fewer cross-border steps. Where they are mostly foreign investors or NRIs, or the portfolio is global, an IFSCA-regulated fund in GIFT City is […]
To set up a GIFT City AIF, you first register a Fund Management Entity (FME) with the International Financial Services Centres Authority (IFSCA). You then file the fund’s placement memorandum (PPM) with IFSCA. IFSCA calls a private fund of this kind a “restricted scheme” and files it as a Category I, II or III AIF; […]