Summary: Variable Capital Companies (VCCs) have emerged as a key structuring tool for wealth and asset management. The Dubai International Financial Centre (DIFC) recently introduced its VCC framework earlier this year, joining Singapore, which has had a similar regime in place since 2020. We analyse the two regimes on key parameters, highlighting key considerations for investors and managers alike.
Continue Reading Variable Capital, Variable Choices: A tale of two VCC regimes
Summary: This article examines the Foreign Contribution (Regulation) Amendment Rules, 2026, which came into force in June 2026. These rules represent a significant recalibration of FCRA, introducing increased compliance obligations for registered organisations. This article analyses the key changes introduced, inter alia: scope-based and State-specific registration requirements that restrict organisations to enumerated purposes and designated territories; a monetary threshold of INR 10 lakh for “reasonable activity” that creates vulnerability for smaller organisations; enhanced disclosure obligations covering social media, publications, and ultimate donor details; and restrictions on foreign nationals serving as key functionaries. These changes collectively tighten the compliance architecture surrounding foreign-funded, not-for-profit work in India and necessitate urgent organisational engagement with transitional compliance obligations under the 2026 Rules.
Continue Reading Scope, Territory and Disclosure: Decoding the 2026 FCRA Amendment Rules
Summary: This blog outlines key changes introduced in Singapore through a revised framework governing Single Family Offices (SFOs). We examine the impact of the newly introduced changes on existing and future SFOs in Singapore.
Continue Reading SINGAPORE’S NEW SFO REGIME: A GAME CHANGER?
The role that India’s family businesses (FBs) play in our economy is staggering – more than 70% of India’s GDP comes from FBs and promoter-run companies. These are multi-generational enterprises, with deeply embedded cultures and concentrated governance structures, with often a single power center in a senior patriarch.
Continue Reading Navigating AI adoption across India’s Family Businesses
Summary: This article explores the transformative role of women as wealth creators in India’s startup and digital era. It highlights the rise of women entrepreneurs across diverse sectors, their unique leadership styles, and the multi-dimensional value they generate. Despite significant progress and increased institutional support, challenges—especially in access to funding—persist. The article emphasises that women are not only building successful businesses but are also reshaping cultural and economic landscapes. Ultimately, women are at the forefront of India’s economic evolution, leveraging new opportunities to lead, innovate, and inspire future generations.
Continue Reading Her Impact: Women as Wealth Creators in the Age of Startups and Digital India
Summary: The Foreign Contribution (Regulation) Amendment Bill 2026 proposes significant amendments to the Foreign Contribution (Regulation) Act, 2010, tightening the regulatory framework for foreign contributions in India. It limits timelines for receipt and utilisation of foreign contribution under the prior permission route, codifying the restrictions that began with government circulars issued in 2025. The Bill also defines the term “key functionaries,” to cover all leadership positions irrespective of organisational structure, exposes key functionaries to personal liability for organisational offences, and imposes on them a statutory duty to report an organisation’s cessation or defunct status. The evolving FCRA landscape requires organisations to review governance structures, identify key functionaries, ensure timely renewals, and maintain complete records to ensure continuing compliance.
Continue Reading The FCRA Amendment Bill 2026: Part II – Compliance and Other Changes
Summary: The Foreign Contribution (Regulation) Amendment Bill 2026 proposes significant changes to the Foreign Contribution (Regulation) Act, 2010, most notably replacing Section 15 with a new Chapter IIIA. This establishes a Designated Authority in which all foreign contribution and assets of an organisation vest upon cancellation, surrender or cessation of its FCRA registration. During provisional vesting, the Designated Authority has the power to take possession of assets and manage the organisation’s activities, including using its foreign contribution. If the organisation fails to obtain fresh registration or renewal within the prescribed time, its assets permanently vest in the Designated Authority and may be disposed of through prescribed modes. The Designated Authority enjoys extensive powers under the 2026 Bill, and judicial intervention is largely restricted. The amendments carry serious implications for FCRA-registered organisations, demanding rigorous compliance, meticulous accounting and proactive governance.
Continue Reading The FCRA Amendment Bill 2026: Part I – Asset Vesting
Summary: As per the recent reports, the Ministry of Home Affairs has issued show cause notices to several NGOs registered under the Foreign Contribution (Regulation) Act, 2010, asking why their registrations should not be cancelled in cases where foreign contributions have neither been received nor utilised for three consecutive financial years. While prolonged non-utilisation may, in the regulator’s view, raise questions on an organisation’s bona fide intent, the development has sparked debate on whether non-utilisation of foreign funds alone can justify cancellation, particularly where NGOs continue to pursue their objectives through other lawful means.
Continue Reading Regulator’s Gaze over Unutilised Foreign Contributions of NGOs
Summary: The blog discusses the progressive shift in the implementation of CSR activities by foreign-owned and controlled entities, and how a Section 8 company limited by guarantee can serve as an alternative to the challenges faced by traditional Section 8 companies under the Foreign Exchange Management (Non-Debt Instruments) Rules, 2019, and the Foreign Contribution (Regulation) Act, 2010.
Continue Reading Section 8 Company Limited by Guarantee: An Alternative to Traditional Section 8 for FEMA & FCRA Issues Faced by Foreign Owned and Controlled Entities
Summary: The blog analyses the amendments made to the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 in relation to (i) the regulatory developments around allowing the top brass of India Inc’s new age technology companies to retain their ESOPs upon being classified as ‘promoters’ during the IPO process and (ii) the amendments undertaken to the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 earlier this year.
Continue Reading Promoter Incentives: Two Steps Closer, and Many Steps To Go