The International Financial Services Centres Authority (IFSCA) on May 07, 2026, issued the International Financial Services Centres Authority (Finance Company) (Amendment) Regulations, 2026, further to amend the International Financial Services Centres Authority (Finance Company) Regulations, 2021.
This shall come into effect from May 08, 2026.
The following has been amended:
• The amendment inserts definitions for “Special Purpose Vehicle (SPV)” and “Trust and Company Service Provider (TCSP)”. An SPV is defined as a finance company incorporated or administered by a TCSP for carrying out activities permitted by the Authority, while a TCSP refers to an entity authorised under the International Financial Services Centres Authority (TechFin and Ancillary Services) Regulations, 2025, to provide trust and company service provider services.
• The amendment further expands the list of permissible activities for finance companies by specifically allowing leasing or financing activities undertaken by SPVs as permitted by the Authority. A new entry has also been inserted in the Schedule prescribing the minimum owned fund requirement for such SPVs. The minimum capital requirement will be equivalent to the amount prescribed under the Companies Act, 2013, or such other amount as specified by the Authority. Additionally, SPVs undertaking leasing or financing activities have been exempted from compliance with Regulations 4 and 8 of the principal regulations.
[Notification no. - IFSCA/GN/2026/ 009]
