Specialised Services

FPI, AIF and PMS Desk

FPI, AIF and PMS Desk

India is one of the biggest developing economies around the world. It offers growth and development opportunities to various businesses. To fund the needs of these businesses, both domestic & foreign investors have a vital role to play. In light of the same, there are various investment options which are opening up

Some of them being Domestic and Offshore Alternative Investment Funds (AIFs), Foreign Portfolio Investors (FPIs), Portfolio Management Services (PMS) and Investment Vehicles. Also, the Government is promoting IFSC-GIFT city for development of a world class International Financial Service Centre

Our team of various experienced professionals assist the client end to end for various services required. We have been serving this desk for more than 30 years now and assisting clients from over 10 different Jurisdictions like India, USA, Mauritius, Canada, Australia, Cyprus, Hong Kong, Sweden, Cayman Islands and Oman

Understanding the needs of the AIFs, FPIs, PMS, IFSC-AIF (collectively referred to as “Funds”) our team of professionals render end to end quality services to them

  • Advising on setting up of efficient domestic or cross-border fund structure,
  • Advising on the tax implications in the hands of the Fund entity, the IM entity (i.e. Investment Manager or Fund Manager entity), Sponsor entity and Investors as per the provisions of the Act, DTAA and MLI,
  • Advising on carry structuring,
  • Advising on implications of POEM, PE, Transfer Pricing, GAAR and Indirect Transfer Provisions for offshore Funds,
  • Assistance in making application for grant of registration with SEBI,
  • Review of the fund documents like trust deed, private placement memorandum, investment management agreement, capital commitment agreement, capital contribution agreement etc.,
  • Assistance in obtaining GIIN, ITDREIN, LEI, PAN, TAN, GSTIN, PT, and other registrations

  • Advising on tax and regulatory implications on various transactions to be undertaken by the Fund or other participants,
  • Maintenance of accounting and tax records for all activities carried out in India;
  • Issuing customised MIS reports as per the needs of the Fund,
  • Assistance in complying with all the compliances under Indian Tax Regulations like computation of advance tax liability, filing of income-tax return, filing of TDS returns, filing of Form 61B, Form 64C, Form 64D etc;
  • Representation services before the Income-tax Department in case of Assessment Proceedings,
  • Assistance in FATCA and CRS compliances

  • Auditing the books of accounts as per Indian Corporate regulations,
  • Assistance in Audit and Compliance under SEBI regulations like carrying out PPM Audit, Compliance / Internal controls Audit,
  • Auditing the accounts as per the tax audit regulations of the Income-tax Act,1961,
  • Auditing the accounts of investors as per the laws in force,
  • Certification of Net Worth or Disclosure Document, PPM, etc
  • Legal and tax due diligence of investee companies and issuing a due diligence report

  • Advising on tax implications as per the domestic tax and the tax treaties
  • Issuing of remittance certificates and filing of forms for partial or complete repatriation of the funds,
  • Advising on implications of Indirect Transfer Provisions on exit by Investors,
  • Assistance in surrendering of various registrations,
  • Assistance in post-winding up inquiries and proceedings under the Income Tax Regulations
  • End to end assistance for enabling smooth and tax efficient exit