FEMA SC Meeting on Cross-border Private Family Trust – FEMA perspective – Part 2 [Hybrid Mode]

The growing number of HNI families in India and rumours around the proposed introduction of the Estate Duty/ Inheritance tax has created a lot of traction in the formation of Private Family Trusts. Settling of such a Trust in a global scenario where the Family Members as well as the Family Assets are situated in more than one country brings about a host of nuances and issues under FEMA. In this session, the speaker will discuss various practical case studies like deciding the residential status, the applicability of LRS, the applicability of the 1 Million Dollar Repatriation Scheme, etc in a cross-border trust structure. The focus of the discussion would revolve around FEMA, however, time permitting the speaker would also touch upon certain interesting issues under the Indian Trust Act and Income-tax Act, 1961.