The Financial Action Task Force (FATF) removed offshore tax haven Cayman Islands from its 'grey list'.
International
Cayman Islands' exit from FATF's gray list will provide a boost to global private equity funds looking to invest in non-banking financial companies (NBFCs) based in India. Was put in gray list to increase surveillance. According to experts, many American and European funds prefer to set up holding companies and funds in Cayman Islands for investing in India. Does not approve of. Therefore, going forward, the RBI should consider and approve Cayman Islands shareholders. This is a positive development for many global PE funds that are organized and based in Cayman,” said Punit Shah, partner at Dhruva Advisors.
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