On May 3, 2024, IN-SPACe released the "Norms, Guidelines, and Procedures for Implementation of Indian Space Policy-2023" (NGP) to lay down the regulatory framework for authorization of space activitie...
Published On: 25/07/2023
Practice Area: Corporate & Commercial, Private Client, Financial Services, Private Equity, Venture Capital and Fund Investment
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In the recent past, an increased number of ultra-high net worth individuals and families started using jurisdictions outside India such as Singapore and Dubai to open ‘family offices’ to utilise and invest their personal income. Targeting such individuals and families, the International Financial Services Centres Authority (“IFSCA”) (which serves as the unified regulatory authority for International Financial Services Centres (“IFSCs”)), gave due recognition to family investment funds (“FIF(s)”) pursuant to the International Financial Services Centre Authority (Fund Management) Regulations, 2022 (“FM Regulations”). The only IFSC currently operational in India is the Gujarat International Finance Tec-City, in Gujarat (“GIFT City”).
