Key takeaways
- In India, the definition of “Overseas Portfolio Investment” has been expanded to include any instrument issued by an overseas investment fund that is managed by a fund manager regulated in the host jurisdiction
- Listed Indian companies and individuals resident in India can now invest in Overseas Portfolio Investments
- Regulated fund managers looking to attract Indian investors may now consider using structures such as the Singapore limited partnership or the Singapore variable capital company
Introduction
On 7 June 2024, the Reserve Bank of India (RBI) issued a circular that amends the Foreign Exchange Management (Overseas Investment) Directions, 2022 with respect to investments in overseas funds (Circular).