UNDER IFSCA (Capital Market Intermediaries) (Amendment) Regulations 2023

ELIGIBILITY
Investment advisers should engaged in the business of providing investment advice to clients or other persons or group of persons.
It advice relating to investing in, purchasing, selling or otherwise dealing in securities or investment products, and advice on investment portfolios containing securities or investment products.
An investment adviser may have the following categories as clients:
• a person resident outside India;
• a non-resident Indian;
• a non-individual resident in India who is eligible under FEMA to invest funds offshore, to the extent of outward investment permitted; and
•an individual resident in India who is eligible under FEMA to invest funds offshore, to the extent allowed in the Liberalized Remittance Scheme of Reserve Bank of India.
NET WORTH REQUIREMENT
·Entities incorporated in India (including IFSC): USD 500,000
·Foreign Entities: USD 1 million
FEE FOR SET UP
·Application Fee: $ 1000
·Registration Fee: $ 1,500
·Recurring Fees: $ 1,500 Annual
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