International Financial Services Centre
GIFT IFSC
In India, an IFSC is approved and regulated by the Government of India under the Special Economic Zones Act, 2005
Government of India has approved GIFT City as a Multi Services Special Economic Zone (‘GIFT SEZ’) and has also notified this zone as India’s IFSC
The launch of the IFSC at GIFT City is the first step towards bringing financial services transactions relatable to India, back to Indian shores
GIFT City ranks 67th on the Global Financial Centres Index (GFCI) and houses 545+ registered entities as of July 2023
What is IFSCA?
Setting up Process
01
In-person/virtual meeting with IFSCA & GIFT officials to demonstrate the business use case for GIFT IFSC
02
Identify office space within GIFT SEZ, finalize agreement with developer and obtain Provisional Letter of Allotment (PLOA)
03
Submit the SEZ application to the Development Commissioner (DC) and a separate IFSCA application for setting up the unit
04
Post SEZ application, DC will invite the company for a Unit Approval Committee hearing to discuss business propostion
05
If approval comes as per point 4, the DC will then issue the 'Letter of Approval'and IFSCA will seperately give 'provisional approval
06
Submit Bond cum LUT, obtain Eligibility Certificate and necessary registrations such as RCMC, IEC and GST
07
Open Foreign Currency and SNRR bank accounts and obtain final IFSCA approval
08
Kickstart your business operations
Are you looking to experience GIFT City?
Frequently Asked Questions
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.
𝘍𝘰𝘳 𝘦𝘹𝘢𝘮𝘱𝘭𝘦 – 𝘗𝘢𝘺𝘵𝘮, 𝘊𝘳𝘦𝘥, 𝘙𝘢𝘻𝘰𝘳𝘱𝘢𝘺, 𝘗𝘰𝘭𝘪𝘤𝘺𝘣𝘢𝘻𝘢𝘢𝘳, 𝘗𝘪𝘯𝘦𝘭𝘢𝘣𝘴, 𝘚𝘭𝘪𝘤𝘦, 𝘦𝘵𝘤
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.
𝘍𝘰𝘳 𝘦𝘹𝘢𝘮𝘱𝘭𝘦 – 𝘍𝘪𝘯𝘢𝘤𝘭𝘦 (𝘣𝘺 𝘐𝘯𝘧𝘰𝘴𝘺𝘴), 𝘔𝘢𝘮𝘣𝘶, 𝘉𝘳𝘰𝘬𝘦𝘳𝘌𝘥𝘨𝘦, 𝘐𝘯𝘴𝘶𝘳𝘦𝘊𝘙𝘔, 𝘖𝘋𝘐𝘕, 𝘦𝘵𝘤