Unified regulator: IFSCA
A single authority oversees banking, capital markets, insurance, and fund management — eliminating the multi-regulator complexity of mainland India.
India's only International Financial Services Centre — Gandhinagar, Gujarat
Where Global CapitalMeets India's Financial Ambition
GIFT IFSC is India's dedicated hub for global banking, funds, fintech, insurance, and capital markets — regulated by a single authority, operating in foreign currencies, with a 10-year income-tax holiday.
Est. 2015India's only IFSC, operational
886 ac.Masterplan — SEZ + domestic
10-yrIncome tax holiday
0% GSTOn financial services
USD · EUR · GBPForeign currency operations
India’s only IFSC — operational since 2015
Regulated by IFSCA under central legislation
886-acre integrated smart city
USD, EUR, GBP transactions permitted
Gandhinagar, Gujarat — 12 km from Ahmedabad
Backed by Government of India & Govt of Gujarat
About GIFT City
A world-class district designed for finance, technology, and modern urban growth
Gujarat International Finance Tec-City (GIFT City) is India's first and only International Financial Services Centre (IFSC), developed jointly by the Government of India and the Government of Gujarat. Operational since 2015 and spanning 886 acres in Gandhinagar, it is modelled on global IFSCs like Singapore's Marina Bay and Dubai's DIFC.
The IFSC Authority (IFSCA) — established under the IFSC Authority Act, 2019 — acts as a single unified regulator for banking, capital markets, insurance, and fund management within GIFT IFSC. Entities here operate in foreign currencies, benefit from a favourable tax regime, and access India's growing financial ecosystem without the constraints of domestic RBI/SEBI frameworks that apply outside the zone.
Why GIFT City Matters
A purpose-built IFSC with real regulatory, tax, and currency advantages
Foreign currency operations
Entities within IFSC transact in USD, EUR, GBP, and other foreign currencies. Domestic INR restrictions under FEMA do not apply to IFSC units.
Favourable tax framework
IFSC units enjoy a 10-year tax holiday (any 10 of the first 15 years), no GST on financial services, and exemption from STT, CTT, and stamp duty.
Global fund domiciling
GIFT IFSC is a recognised jurisdiction for fund management entities, AIFs, and FPIs — enabling Indian-origin fund managers to operate globally from India.
Aircraft and ship leasing
India's only operational leasing hub competes directly with Ireland and Singapore. IFSCA has issued dedicated leasing frameworks for both aircraft and ships.
Global In-house Centres (GCCs)
Multinationals set up captive financial services units in GIFT IFSC to service global operations — combining cost efficiency with regulatory compliance.
Fintech regulatory sandbox
IFSCA runs a live regulatory sandbox allowing fintech firms to test innovative products under a supervised, time-bound experimental framework.
Opportunities
Who is GIFT IFSC relevant for — and how
NRIs and global tech professionals
GIFT IFSC lets NRIs open IFSC banking units, invest in funds domiciled here, and manage cross-border wealth through structures that sit outside India's domestic FEMA/RBI rules.
Fund managers and asset managers
Set up a Fund Management Entity (FME) to manage AIFs, venture capital, and offshore funds from India — with a 10-year tax holiday and no capital gains tax on certain instruments.
Banks and financial institutions
IFSC Banking Units (IBUs) operate in foreign currency, offer products like ECBs, trade finance, and derivatives — free from CRR, SLR, and PSL requirements that apply onshore.
Fintech companies
Access IFSCA's regulatory sandbox to test cross-border payment, lending, and wealthtech products. GIFT IFSC has specific frameworks for payment system operators and account aggregators.
Aircraft and ship lessors
India's first IFSC leasing hub — compete with Dublin and Singapore using IFSCA's dedicated leasing framework, with no withholding tax on lease rentals paid by IFSC units.
Real estate investors
GIFT City's commercial and residential inventory is growing rapidly. Office towers, co-working spaces, hotels, and branded residences are available across the SEZ and domestic zones.
Investment & Real Estate
Real estate across GIFT City's SEZ, domestic, and residential zones
GIFT City covers an 886-acre masterplan divided into an IFSC SEZ zone (for regulated financial entities) and a domestic zone (for IT/ITeS, GCCs, and support services). Residential and hospitality inventory is expanding rapidly — driven by demand from professionals relocating for IFSC employment and institutions establishing a physical presence. NRIs can purchase residential property in the domestic zone subject to FEMA regulations. Any purchase decision should be verified with a registered developer and legal counsel.
Explore Real Estate OpportunitiesCommercial office towers (SEZ and non-SEZ)
Branded and luxury residential apartments
Serviced apartments and co-living
5-star and business hotels
Data centres and tech parks
International schools and campuses
Retail streets and lifestyle precincts
Mixed-use developments with long lease options
Business Setup
Entity types and sectors regulated by IFSCA in GIFT IFSC
IFSCA has issued specific frameworks for each of these entity types. Setup requirements, capital norms, and approvals vary by sector — consult a registered IFSC professional services firm before proceeding.
IFSC Banking Units (IBUs)
Fund Management Entities (FMEs)
Alternative Investment Funds (AIFs)
Foreign Portfolio Investors (FPIs)
Insurance (IFSC Insurance Offices)
Capital market intermediaries
Aircraft leasing
Ship leasing
Fintech (Regulatory Sandbox)
Payment system operators
Global In-house Centres (GCCs)
Professional services (legal, audit, advisory)
TechFin and ancillary services
International branch campuses
Lifestyle & Infrastructure
City-scale planning that supports work, movement, and everyday quality of life
GIFT City is designed as more than an office cluster. Its infrastructure model combines mobility, amenities, sustainability, and public realm planning to support a modern mixed-use business district.
Smart mobility
Walkable districts
Sustainable planning
Modern utilities
Commercial towers
Hotels
Education
Clubs
Public spaces
Quality-of-life infrastructure
Insights
Practical guides for professionals navigating GIFT IFSC
GIFT IFSC vs Mainland India: what's actually different for financial entities?
A focused overview of what actually matters for professionals, NRIs, and institutions evaluating GIFT IFSC — regulatory specifics, not surface-level summaries.
NRI banking at GIFT IFSC: IFSC Banking Units explained
A focused overview of what actually matters for professionals, NRIs, and institutions evaluating GIFT IFSC — regulatory specifics, not surface-level summaries.
How global tech professionals can use GIFT IFSC to manage cross-border wealth
A focused overview of what actually matters for professionals, NRIs, and institutions evaluating GIFT IFSC — regulatory specifics, not surface-level summaries.
Fund domiciling in GIFT IFSC: AIFs, FMEs, and what changed after 2022
A focused overview of what actually matters for professionals, NRIs, and institutions evaluating GIFT IFSC — regulatory specifics, not surface-level summaries.
Aircraft leasing at GIFT City: why India is now competing with Dublin
A focused overview of what actually matters for professionals, NRIs, and institutions evaluating GIFT IFSC — regulatory specifics, not surface-level summaries.
IFSCA's regulatory sandbox: what fintechs can actually test and how
A focused overview of what actually matters for professionals, NRIs, and institutions evaluating GIFT IFSC — regulatory specifics, not surface-level summaries.
Talk to a GIFT IFSC specialist
Get curated guidance for NRI banking, fund setup, business establishment, or real estate in GIFT IFSC.
Whether you hold RSUs, are planning to relocate, or want to domicile a fund — our specialists can help you understand how GIFT IFSC applies to your specific situation.
FAQs
Real questions from NRIs, fund managers, and tech professionals about GIFT IFSC
GIFT IFSC (International Financial Services Centre) is a special jurisdiction within GIFT City where financial entities operate in foreign currencies and are regulated by a single authority — IFSCA — rather than RBI, SEBI, IRDAI, or PFRDA separately. Entities in IFSC are exempt from CRR, SLR, PSL requirements, stamp duty, STT, CTT, and GST on financial services. They also get a 10-year income tax holiday (any 10 of the first 15 operating years).
Yes. IFSC Banking Units (IBUs) at GIFT IFSC accept deposits from NRIs in foreign currencies, offer loans, trade finance, and derivative products. NRIs can also invest in AIFs and funds domiciled at GIFT IFSC. These transactions sit outside India's FEMA domestic banking rules, though they are still subject to IFSCA and IBU-specific regulations.
Potentially yes. If you are considering returning to India or diversifying your cross-border wealth structure, GIFT IFSC banking units and funds can give you access to USD-denominated accounts and investment structures from India. However, your specific situation — tax residency, RSU vesting schedule, estate exposure — determines whether and how GIFT IFSC applies. Use Zinc's estate tax calculator to check your cross-border exposure first.
The International Financial Services Centres Authority (IFSCA) was established under the IFSC Authority Act, 2019. It is the unified regulator for all financial products and services in India's IFSCs. This includes banking (IBUs), capital markets, fund management (FMEs, AIFs), insurance (IIOs), payment systems, aircraft leasing, ship leasing, and fintech (regulatory sandbox).
IFSC units get a 10-year income tax holiday, choosable from any 10 of the first 15 years of operation. There is no GST on financial services rendered within IFSC, no Securities Transaction Tax (STT), no Commodities Transaction Tax (CTT), and no stamp duty on transactions within IFSC. Capital gains on securities listed on IFSC exchanges (NSE IFSC, BSE IFSC) are also exempt in certain cases.
Yes. IFSCA has a dedicated framework for Fund Management Entities (FMEs) covering venture capital, retail schemes, and non-retail schemes (like AIFs). FMEs registered with IFSCA benefit from the 10-year tax holiday, no capital gains tax on IFSC-listed instruments, and the ability to raise funds globally. SEBI registration is not required for funds managed and domiciled within IFSC.
It is moving in that direction. IFSCA issued a dedicated aircraft leasing framework and India has ratified the Cape Town Convention. GIFT IFSC leasing entities benefit from no withholding tax on lease rentals paid by IFSC units, 10-year tax holidays, and a growing ecosystem of legal, rating, and advisory firms. Ireland and Singapore still have more track record, but GIFT IFSC is the formal mechanism India has built to compete in this space.
NRIs can purchase residential property in GIFT City's domestic zone under standard FEMA NRI property purchase rules — the same rules that apply to any property purchase in India. There is no special IFSC-specific NRI property framework. Commercial property within the SEZ zone is typically leased, not sold. Always verify current FEMA rules and developer approvals with a qualified legal advisor before any transaction.