What is IFSC?
- An International Financial Services Centre (IFSC) caters to customers outside the jurisdiction of domestic economy. Such centres deal with the flow of finance, financial products and services across the borders
- IFSC as envisaged under the Indian context “is a jurisdiction that provides financial services to non residents and residents (institutions) in any currency other than Indian Rupee(INR)”
- IFSC is set up to undertake financial services transactions that are currently carried on outside India by overseas financial institutions and overseas branches/ subsidiaries of Indian financial institutions
Key Highlights of the GIFT City
Entities in GIFT City's 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.
Read our Blogs on GIFT City
The new epicenter of Global Finance
Frequently Asked Questions about GIFT City
GIFT City consists of a Special Economic Zone (SEZ), the International Financial Services Centre (IFSC), and a domestic financial center.
IFSC stands for International Financial Services Centre. It’s a hub within GIFT City that facilitates businesses and financial institutions to operate in foreign currencies and cater to the needs of global financial markets.
GIFT City provides state-of-the-art infrastructure, legal & regulatory frameworks, and tax advantages, making it attractive for global businesses, financial services, and IT/ITES firms to set up their operations.
Yes, GIFT City is an integrated township that includes residential zones with modern amenities, ensuring a work-live-play environment.
GIFT City has a well-connected transport system including roadways, and it’s in proximity to the Sardar Vallabhbhai Patel International Airport in Ahmedabad.
As an integrated city, GIFT City plans to include educational institutions and training centers to cater to the population residing and working within its precincts.
The list of licensed entities in GIFT City can be accessed here – https://www.giftgujarat.in/business/ifsc?tab=Licensed%20Entities
Yes, IFSC units can make payment for administrative and statutory expenses in INR. No other INR transactions are permitted.
The IFSC within GIFT City provides several tax benefits, including competitive tax rates and exemptions, to promote international financial services.
GIFT City is designed with a focus on sustainable and green infrastructure, using technologies like District Cooling System, Automated Waste Collection, and treated water supply.
GIFT City is India’s first operational smart city and IFSC. It’s positioned to compete with global financial hubs by offering state-of-the-art facilities, tax benefits, and strategic location.
Domestic and international entities, including financial institutions, IT companies, and various service providers, can set up their operations in GIFT City by adhering to the regulations set by the respective authorities.
The vision is to develop GIFT City as a globally preferred financial hub, integrating the latest technological advancements with infrastructural excellence.
Yes, GIFT City is equipped with state-of-the-art security and surveillance systems, ensuring a safe environment for its inhabitants and businesses.
Yes, IFSC units can open foreign currency current accounts with the banks operating in the GIFT IFSC.
The current real estate developers are –
- Hiranandani, Mumbai (Signature Tower – Operational)
- Brigade Group, Bangalore (BIFC Tower – Operational)
- ATS – Savvy Group, Ahmedabad (Pragya Tower – Operational)
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