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India Authority Stops Approval for Local India Family Offices to Setup Investment Funds in GIFT City Due to Concerns of Being Used to Avoid Tax & Capital Controls Including for Money Laundering, India Limits Local Residents Investments Overseas to $250,000 Per Year But are Able to Invest Overseas via Approved Financial Institutions, Banks & Wealth Management Firms Operating in GIFT City

Aug 27, 2024

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India Authority Stops Approval for Local India Family Offices to Setup Investment Funds in GIFT City Due to Concerns of Being Used to Avoid Tax & Capital Controls Including for Money Laundering, India Limits Local Residents Investments Overseas to $250,000 Per Year But are Able to Invest Overseas via Approved Financial Institutions, Banks & Wealth Management Firms Operating in GIFT City

27th August | Hong Kong

India GIFT City governing authority has stopped approval for local India family offices to setup investment funds in GIFT City (Gujarat International Finance Tec-City), due to concerns of being used to avoid tax & capital controls including for money laundering. India limits local residents investments overseas to $250,000 per year, but residents are able to invest overseas via approved financial institutions, banks & wealth management firms operating in GIFT city.

“ India Authority Stops Approval for Local India Family Offices to Setup Investment Funds in GIFT City Due to Concerns of Being Used to Avoid Tax & Capital Controls Including for Money Laundering, India Limits Local Residents Investments Overseas to $250,000 Per Year But are Able to Invest Overseas via Approved Financial Institutions, Banks & Wealth Management Firms Operating in GIFT City “

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India Authority Stops Approval for Local India Family Offices to Setup Investment Funds in GIFT City Due to Concerns of Being Used to Avoid Tax & Capital Controls Including for Money Laundering, India Limits Local Residents Investments Overseas to $250,000 Per Year But are Able to Invest Overseas via Approved Financial Institutions, Banks & Wealth Management Firms Operating in GIFT City

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