All investors or prospects are required to submit their information for KYC or AML or CFT compliance for transparency in financial dealing and prudent risk management
• KYC Policy includes below key elements:
• (a) Customer Acceptance Policy(CAP);
• (b) Customer Identification Procedures (CIP);
• (c) Implementation, Compliance and Ongoing Due Diligence
What is LRS and it’s guidelines?user2020-12-29T16:59:34+05:30
• What is LRS:
o Under this Scheme, all resident individuals, including minors, are allowed to freely remit / avail foreign exchange facility up to USD
2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both
• What is the new tax implications on all forex transactions under LRS:
o As per the new Tax Collected at Source (TCS) effective from October 1, 2020, 5% TCS shall be applicable on aggregate forex
transactions under LRS exceeding INR 7 Lakhs in a financial year
• What is the applicable TCS if PAN card is not updated on Bank’s records:
o Foreign Exchange facility under LRS can be availed only if your PAN is updated on Bank’s record
• If remitter/ customer can avail tax credit of the TCS?
o Yes, remitter / customer can claim credit for the tax collected by the Bank while filing for their tax returns
We advise investors to consult his/her tax advisor. Investors our provided copies of Schedule K-1/tax return which will include their share of the partnership’s income or loss on their investment. Investors can use these documents to file their personal tax returns.
o If a foreign person derives income directly or indirectly from a US trade or business and that income is treated as ECI, then foreign person must file an Income tax return in the US.
o An Indian investors who invests directly with a US based LLC, would be required to comply with the following requirements.
o a. Indian Investor needs to provide applicable Form W 8 ben to US LLC.
o b. File income tax return in the US.
o c. Claim foreign tax credit on Indian tax return against the taxes paid on income earned in the US.
What is Magic’s due dilligence process?user2020-12-29T16:56:00+05:30
Our Due Diligence and Portfolio management are done on three levels:
Onboarding – We do a detailed Investee partner diligence with multiple top management engagements/meetings, site visits, past track record analysis and third-party channel checks are done before onboarding a new partner.
Pre- Deal Closure – We curate the best deals which fit as per our investment thesis through our Investee Partner portfolio. We do a detailed financial and commercial due diligence including rationalization of the financial projections, product and market fit which combines with our management analysis and becomes an integral part of our investment assessment.
Post-Deal Closure – After the closure, we manage the investment via performing monthly call, quarterly performance evaluation and annual visit.
Do you share deal financials?user2020-12-29T16:54:36+05:30
Magic balances the requests investors have for sensitive and confidential information of portfolio companies which they have invested in or are considering investing in, with the confidentiality that portfolio companies and their Boards understandably demands.
Which currencies do you accept?user2020-12-29T16:53:48+05:30
All investments are made in US Dollars. Please ensure the account used to fund your investments is able to make US dollar transactions. We have experts who can advise you in regards to what can and how can you invest in US dollars.
Why is accreditation required?user2020-12-29T16:52:40+05:30
Early stage, privately-held companies are high-risk investments, and many countries require individuals to meet specific criteria before being allowed to participate in these investments. Magic follows local regulations regarding accreditation, which vary country-by-country, but generally address the following two questions: What are the criteria for the minimum level of income and/or net worth of investors who are allowed to participate in these types of investments? What proof do investors have to provide in order to satisfy that they meet these criteria?
Which segments we operate in?user2020-12-29T16:51:55+05:30
The Subscriber is an (i) accredited investor and (ii) have knowledge and experience in financial and business matters capable of evaluating the merits and risks of an investment in the Securities. The subscriber agrees to furnish complete and accurate information which does not contain any misrepresentation or material omission as requested by Magic or any its affiliates to ensure compliance with applicable local laws in connection with the purchase and sale of the Securities.
How do I get Started?user2020-12-29T16:48:33+05:30
It is simple and free to sign up on the MaGiC website and begin accessing our deal flow. Once your investment account is set up, you’ll have full access to information about the deals available to accredited investors.
How much money can I make?user2020-12-29T16:47:49+05:30
Magic will thrive by staying maniacally focussed on investors. In order to deliver predictable and superior risk adjusted returns, we work hard to identify and engage in partnerships with global leaders and sponsors of significant repute and domain expertise and we build enduring relationships with these partners gaining access to hard to get deal flow. Investments are made in a combination of deal by deal or through SPVs and Funds. Investors get ample opportunity to co-invest at a deal level depending on perception and evaluation of deals in terms of risk and liquidity.
We are averaging an IRR of 21% YOY since 2016 on a global diversified portfolio with an average return cycble of less than 24 months.
How is PeerMagic different?user2020-12-28T17:54:09+05:30
Magic will bring deals from around the world across domains and geographies and currencies and categories so that investors have access, choice and opportunity to build a diversiﬁed and hedged investment portfolio in Private Equity.
Magic curates the deals by investing relationship building and risk management skills with a view to optimize return on equity for any given risk.
What is Peermagic.com?user2020-12-28T17:45:28+05:30
Magic is a global private investment platform for selected, accredited investors to grow a diversified portfolio of investments in highly vetted private equity deals, with as little as $100000 per investment. Curating global Investment opportunities for wealthy rich. Our investment thesis is to optimize return on capital to its investors on the risk taken by them by diversifying across industries and countries. This effectively means that the investors have the option to fund the Unicorns across the globe.