In this episode, Head of Regulatory Aki Corsoni-Husain, Associate Kartik Sharma, and guest expert Ravi Raghavan of Majmudar & Partners, discuss the complex relationship between India, Cyprus, and the offshore jurisdictions.

Key takeaways

• Understanding recent developments in India impacting foreign direct investment (FDI) – including looking at restricted sectors.  Focussing on whether the use of companies based in offshore and ‘mid-shore’ jurisdictions actually helps with FDI when structuring transactions – and if so, how.
• Exploring whether there continues to be any tax "benefit" to structuring through treaty countries such as Cyprus – following the ongoing revisions by India to prevent abuse – and Indian attempts to severely restrict double non-taxation wherever possible.
• Looking at similarities between India and Cyprus in terms of their common law, and contract law, heritage – as well as the perennial ease of use of offshore companies based in the BVI and Cayman Islands and their continued popularity as holding vehicles.
• Finally, an examination of the preferred treatment of Cypriot funds by the Securities and Exchange Board of India (SEBI) as of 2021.