What is IFSCA?
The International Financial Services Centres Authority (IFSCA) has been established on April 27, 2020 under the International Financial Services Centres Authority Act, 2019. It is headquartered at GIFT City, Gandhinagar in Gujarat.
The IFSCA is a unified regulator comprising RBI, SEBI, PFRDA, and IRDAI and is responsible for the development and regulation of financial products and services in the IFSC in India. At present, the GIFT IFSC is the maiden international financial services centre in India. The International Financial Services Centres Authority (IFSCA) has been established on April 27, 2020 under the International Financial Services Centres Authority Act, 2019. It is headquartered at GIFT City, Gandhinagar in Gujarat.
IFSC Highlights
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- 24Banks
- 137Capital Markets Intermediaries
- 2International Stock Exchanges
- 137Aircraft Leasing Firms
- 116Fintech Entities
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- 36Insurance & Reinsurance Firms
- 143Alternative Investment Funds
- 2Foreign Universities
- 6Ship Leasing Firms
- 20International Bullion Exchange & Bullion Vaults
Setting up Process
Identify Use Case
Discussion with our team, meeting with IFSCA & GIFT officials to demonstrate the business use case for GIFT IFSC
Application to IFSCA
Identify office space and make application with regulators
Approval & Payment of Fees
Submit post approval documentation along with fees, open bank accounts and apply for business and tax registrations
Kickstart your Business
Obtain final IFSCA approval and start operations
Are you looking to set up your office at GIFT City?
Connect with us
Jitesh Agarwal
Founder
[email protected]
Jitesh Agarwal is the driving force behind Treelife, where he leads with a strong foundation in finance, overseeing key practices like VCFO, Finance, Tax & Regulatory, and GIFT City. Jitesh has successfully positioned Treelife as a trusted service provider in the startup ecosystem.
Priya Kapasi Shah
Associate Partner | Finance
[email protected]
Priya Kapasi Shah, a Chartered Accountant with 12+ years of experience including tenure at PwC and KPMG. Priya heads Financial Advisory, leads GIFT IFSC setups, leveraging expertise in tax, regulatory compliance, and investment structuring.
Gaurav Shetty
Senior Associate | Finance
[email protected]
Gaurav, a Chartered Accountant and Lawyer, specializes in tax, financial structuring, and startup consulting. He plays a key role in setting up Fund Management Entities and AIFs at GIFT IFSC, providing strategic advice and regulatory compliance support.
Mokshita Agnihotri
Associate | GIFT City
[email protected]
Mokshita Agnihotri is an Associate at Treelife, works out of our GIFT City office. With a specialized background in Law from the University of Petroleum and Energy Studies, she brings a wealth of expertise to her role, focusing on Investment Transactions and Private Equity.
Frequently Asked Questions
Who are the real estate developers in GIFT City?
There are multiple real estate developers offering office space in GIFT City. There are also a few Plug N Play service providers in GIFT City. Refer here for more details โย https://www.giftgujarat.in/business/ifsc
What is the difference between fintech and techfin under the GIFT IFSC framework?
Fintech: This refers to emerging financial technologies and innovations that drive new business models, applications, processes, or products in areas connected to financial services. These are typically B2C in nature.
๐๐ฐ๐ณ ๐ฆ๐น๐ข๐ฎ๐ฑ๐ญ๐ฆ โ ๐๐ข๐บ๐ต๐ฎ, ๐๐ณ๐ฆ๐ฅ, ๐๐ข๐ป๐ฐ๐ณ๐ฑ๐ข๐บ, ๐๐ฐ๐ญ๐ช๐ค๐บ๐ฃ๐ข๐ป๐ข๐ข๐ณ, ๐๐ช๐ฏ๐ฆ๐ญ๐ข๐ฃ๐ด, ๐๐ญ๐ช๐ค๐ฆ, ๐ฆ๐ต๐ค.
Techfin: These are advanced or innovative technological solutions primarily designed to support, aid, and enhance activities related to financial products, services, and institutions. These are typically B2B in nature where they have tech products which can be used by financial institutions for their operations.
๐๐ฐ๐ณ ๐ฆ๐น๐ข๐ฎ๐ฑ๐ญ๐ฆ โ ๐๐ช๐ฏ๐ข๐ค๐ญ๐ฆ (๐ฃ๐บ ๐๐ฏ๐ง๐ฐ๐ด๐บ๐ด), ๐๐ข๐ฎ๐ฃ๐ถ, ๐๐ณ๐ฐ๐ฌ๐ฆ๐ณ๐๐ฅ๐จ๐ฆ, ๐๐ฏ๐ด๐ถ๐ณ๐ฆ๐๐๐, ๐๐๐๐, ๐ฆ๐ต๐ค.
Is the AIF regulated by GIFT IFSC?
Unlike SEBIโs domestic AIF regulations where the fund (AIF) seeks registration with SEBI, under the IFSCA regulations, the fund management entity (FME) seeks registration with the IFSCA and can launch funds (schemes) with only prior intimation to IFSCA.
How many approvals does one need to obtain to operate in GIFT IFSC?
As of now, approval is needed from the SEZ authorities and the IFSCA authorities for operating in GIFT IFSC. A proposal to make a single window clearance in underway.
Are entities in GIFT IFSC treated as a resident in India?
From an Income-tax perspective, entities in GIFT IFSC are โresidentโ in India while from an exchange control perspective, entities in GIFT IFSC are โnon-residentโ.
How does GIFT City’s IFSC compare with other global financial hubs?
GIFT Cityโs IFSC is strategically designed to offer services at par with global financial hubs. Its state-of-the-art infrastructure, streamlined regulatory framework, and competitive advantages position it as a leading financial center in the Asian market.
What kind of tax incentives does GIFT City’s IFSC offer?
Companies in GIFT Cityโs IFSC enjoy various tax benefits, including lower tax rates, exemptions from several duties, and other incentives aimed at promoting the ease of doing business.
Are there special regulatory provisions for businesses in GIFT City’s IFSC?
Yes, businesses in GIFT Cityโs IFSC are governed by a separate regulatory framework crafted by the IFSC Authority, ensuring a competitive and friendly business environment while maintaining international standards.
Why should a business set up its operations in the GIFT City IFSC?
Entities in GIFT Cityโs IFSC benefit from a favorable regulatory environment, tax incentives, robust infrastructure, and easy access to a massive global market, making it a strategic location for financial service providers.
Who are the real estate developers in GIFT City?
There are multiple real estate developers offering office space in GIFT City. There are also a few Plug N Play service providers in GIFT City. Refer here for more details โย https://www.giftgujarat.in/business/ifsc
What is the difference between fintech and techfin under the GIFT IFSC framework?
Fintech: This refers to emerging financial technologies and innovations that drive new business models, applications, processes, or products in areas connected to financial services. These are typically B2C in nature.
๐๐ฐ๐ณ ๐ฆ๐น๐ข๐ฎ๐ฑ๐ญ๐ฆ โ ๐๐ข๐บ๐ต๐ฎ, ๐๐ณ๐ฆ๐ฅ, ๐๐ข๐ป๐ฐ๐ณ๐ฑ๐ข๐บ, ๐๐ฐ๐ญ๐ช๐ค๐บ๐ฃ๐ข๐ป๐ข๐ข๐ณ, ๐๐ช๐ฏ๐ฆ๐ญ๐ข๐ฃ๐ด, ๐๐ญ๐ช๐ค๐ฆ, ๐ฆ๐ต๐ค.
Techfin: These are advanced or innovative technological solutions primarily designed to support, aid, and enhance activities related to financial products, services, and institutions. These are typically B2B in nature where they have tech products which can be used by financial institutions for their operations.
๐๐ฐ๐ณ ๐ฆ๐น๐ข๐ฎ๐ฑ๐ญ๐ฆ โ ๐๐ช๐ฏ๐ข๐ค๐ญ๐ฆ (๐ฃ๐บ ๐๐ฏ๐ง๐ฐ๐ด๐บ๐ด), ๐๐ข๐ฎ๐ฃ๐ถ, ๐๐ณ๐ฐ๐ฌ๐ฆ๐ณ๐๐ฅ๐จ๐ฆ, ๐๐ฏ๐ด๐ถ๐ณ๐ฆ๐๐๐, ๐๐๐๐, ๐ฆ๐ต๐ค.
Is the AIF regulated by GIFT IFSC?
Unlike SEBIโs domestic AIF regulations where the fund (AIF) seeks registration with SEBI, under the IFSCA regulations, the fund management entity (FME) seeks registration with the IFSCA and can launch funds (schemes) with only prior intimation to IFSCA.
How many approvals does one need to obtain to operate in GIFT IFSC?
As of now, approval is needed from the SEZ authorities and the IFSCA authorities for operating in GIFT IFSC. A proposal to make a single window clearance in underway.
Are entities in GIFT IFSC treated as a resident in India?
From an Income-tax perspective, entities in GIFT IFSC are โresidentโ in India while from an exchange control perspective, entities in GIFT IFSC are โnon-residentโ.