Investor Presentaiton
Framework for Ancillary Service Providers
Eligibility Conditions
fin
The following entities are eligible to act as a service provider so as to provide permissible ancillary services
pertaining to activities in relation to financial products, financial services and financial institutions in the IFSC:
➤ Any existing or newly incorporated entity set up in the IFSC or
➤ Any Indian or foreign incorporated entity by establishing a branch or a subsidiary
The entity may be set up in the IFSC in the form of a company or a limited liability partnership or a registered
partnership firm, their branch thereof or any other form as may be approved by the IFSCA
Service Recipients
Service providers can provide permissible services to any one or more of the following:
➤ Entity(ies) set up in the IFSC;
Entities from foreign jurisdictions for various permissible ancillary services in the IFSCs in India or overseas;
Indian entities who propose to open, set up or carry out operations in IFSCS or foreign jurisdiction, provided
consideration is received in freely convertible foreign currency.
It is to be noted that in IFSC only B2C services are eligible. Entity cannot provide B2B services.
Currency for Conduct of Business
Service providers shall transact in freely convertible foreign currency only. However, the service providers may
defray their administrative expenses in INR by maintaining an INR account.
Khandhar Mehta & Shah | Chartered Accountants
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