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NRI Investments
What is GIFT CITY?​
In 2022 the Indian Government came out with the regulations which permitted the IFSE Authority (International Finance Services Centre) to offer Financial Products to Global Customers in Foreign Currency to invest in India. The Head Quarter of the IFSE Service Centre in India is located in Gandhi Nagar Near Ahmedabad in Gujrat called GIFT CITY- India's First Operational Green Field Smart City and International Finance Services Centre known as Gujrat International Finance Tec- City.
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WHO CAN INVEST?​
NRIS
OVERSEAS OF INDIAN ORIGIN
FOREIGN NATIONALS
FOREIGN INSTITUTIONS/ENTITIES
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HASSELS FREE DOCUMENTATION​
NO NEED OF PAN CARD
NO NEED OF AADHAAR CARD
NO NEED OF INDIAN BANK ACCOUNT
NO FPI REGISTRATION REQUIRED FOR FOREIGN ENTITES
MINORS CAN INVEST
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INVESTMENT BENEFITS
NO TDS
INSULATED AGAINST RUPEE DEPRECIATION SINCE INVESTMENT CURRENCY IS IN US DOLLARS
CAPITAL GAINS ARE TOTALLY EXEMPT FROM TAX IN THE HANDS OF INVESTORS
INVESTORS ARE ONLY TAXED IN THEIR HOME COUNTRY AS PER THEIR TAX RATE
NO TAX ON NOTIONAL GAINS FOR US INVESTORS
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NATURE OF THE SCHEME​
OUT BOUND ( NRIs INVESTING IN FOREIGN MARKETS)
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MINIMUM INVESTMENTS
USD 150, 100
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CONTRIBUTION OPTION​
LUMPSUM- 100 % PAYMENT ALONG WITH CONTRIBUTION AGREEMENT
DRAWDOWNS- FIRST DRAWDOWNS ATLEAST 50% WITH CONTRIBUTION AGREEMENT AND THE BALANCE WITHIN THREE MONTHS AFTER FROM INTIAL CONTRIBUTION
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FACE VALUE
USD 100 PER UNIT
NAV FREQUENCY
MONTHLY
LIQUIDITY
CLOSE ENDED FUND
LOCK IN PERIOD
FOUR YEARS FROM THE DATE OF FIRST CLOSING
TOP- UP FACILITY
YES, WITH MINIMUM 25000 USD AND IN MULTIPLES IN HUNDRED
EXIT CHARGE
1% WITHIN ONE YEAR DATE OF ALLOTMENT
NO EXIT CHARGE AFTER ONE YEAR
PROCEDURE OF ON BOARDING
1. SUBMISSION OF DOCUMENTS FOR ON BOARDING
(A) DULY FILLED IN THE APPLICATION FORM
(B) CONTRIBUTION AGREEMENT
(C ) RELEVANT KYCS
2. FACILITATING ON BOARDING
SHARING THE SCANNED COPIES OF THE DOCUMENTS BY THE DISTRIBUTOR TO VISTRA ITCL INDIA LIMITED FOR REVIEW
3. TRANFER OF MONEY
INVESTRO CAN INITIATE MONEY TRANSFER TO THE FUND ACCOUN T ONCE REVIEW IS COMPLETED
TAXATION
NONRESIDENTS
NO CAPITAL GAIN TAX IN INDIA