In an article titled “Investing in
[Cayman Islands Monetary Authority’ (CIMA)] admission to IOSCO demonstrates the jursidcition’s willingness to engage other regulators to facilitate cross-border information exchange and assistance. It is believed that the Indian securities regulator, the Securities and Exchange Board of India (SEBI) will treat this development positively and allow for speedier and less cumbersome registration of Cayman domiciled funds as foreign institutional investors (FIIs) in
Registration is mandatory for foreign institutional investors in
The article however notes that since Cayman Islands does not have a double taxation avoidance treaty with India, funds from Cayman will still have to be routed through jurisdictions that have advantageous tax treaties with India (such as Mauritius and Cyprus).
The article is on page 68 of the World Commerce Review (Sep ’09), which can be accessed here.