Framework for enabling Ancillary services at International Financial Services Centres notified [Read Order]

Considering the importance of professional and other service providers for the development of financial products, financial services, and financial institutions in the International Financial Services Centres (IFSC), a framework for enabling ancillary services has been notified.

The framework shall be applicable to ancillary service providers engaged in any one or more of the following activities:

1. Legal, Compliance, and Secretarial;
2. Auditing, Accounting, Bookkeeping, and Taxation Services;
3. Professional & Management Consulting Services;
4. Administration,  Assets Management Support Services and Trusteeship Services;
5. Any other services as approved by IFSCA from time to time.

The framework details the activities of permissible ancillary services, eligible entities, service recipients, etc.

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