India grants UAE investment licence with easier norms on compliance

Category-I licence implies lower compliance burden and investment restrictions, simplified KYC norms and documentation requirements

Topics
Foreign Portfolio Investors | United Arab Emirates | Centre

Ashley Coutinho  |  Mumbai 

Foreign portfolio investors (FPIs) from United Arab Emirates (UAE) are eligible for taking up Category-I licence that lowers compliance norms, the Indian government has said. UAE is the second non-Financial Action Task Force (FATF) country after Mauritius to get India’s exemption to qualify as Category-I FPI.

Seventy two of the 113 FPIs from UAE are currently classified as Category-II FPIs. The Abu Dhabi Investment Authority, a sovereign wealth fund, has been a major investor into India. "India's strong ties with UAE saw ADIA being notified as a sovereign fund ...

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First Published: Wed, February 10 2021. 18:25 IST
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