The International Financial Services Centres Authority (IFSCA) on July 23, 2024, issued FAQs on Circular titled “Additional requirements for carrying out the permissible activities by Finance Company as a Lessor under ‘Framework for Ship Leasing.
The following FAQs have been answered:
• What are the permissible transactions that a ship lessor can undertake in the IFSC, as per the SL Circular?
• What is the meaning of the phrase 'providing services solely to a person resident in India.', as referred to in Paragraph 2 of the aforementioned SL Circular?
• Can a ship lessor in India shift its existing business or contract existing with Indian residents to GIFT IFSC for undertaking the ship leasing activity?
