GIFT IFSC Legal & Compliance Support | Savlana Init

GIFT IFSC · Legal & Compliance

GIFT IFSC Legal & Compliance — Regulated. Structured. Operationally Ready.

GIFT IFSC is India's premier international financial services centre with a distinct regulatory framework — we provide complete legal and compliance support for entities operating or setting up at GIFT City under IFSCA regulations.

GIFT International Financial Services Centre (GIFT IFSC), located at GIFT City in Gujarat, is India's first and only operational International Financial Services Centre. Governed by the International Financial Services Centres Authority (IFSCA), GIFT IFSC operates under a unique regulatory framework that combines elements of Indian law with international best practices to create a globally competitive financial hub for banking, capital markets, insurance, and fund management.

Entities operating at GIFT IFSC — whether banking units (IBUs), fund management entities (FMEs), insurance offices, or other financial services entities — are subject to IFSCA regulations, which are distinct from the domestic regulatory framework of RBI, SEBI, and IRDAI. At the same time, foreign exchange transactions from GIFT IFSC are governed by FEMA, and tax benefits under Section 10(10D) and Sections 80LA are available subject to compliance conditions.

We provide comprehensive legal and compliance support for entities at GIFT IFSC: advising on the applicable IFSCA regulatory framework, assisting with licensing applications, structuring transactions for IFSC regulatory compliance, preparing and filing periodic regulatory returns, and advising on the tax benefits available under the Income Tax Act for GIFT IFSC entities. Our team combines expertise in IFSCA regulations, FEMA, and Indian taxation to provide a single-window compliance solution for GIFT IFSC.

Our GIFT Legal & Compliance Support Services

IFSCA Regulatory Advisory

Comprehensive advisory on the IFSCA regulatory framework applicable to banking units, FMEs, insurance offices, and other financial services entities at GIFT IFSC.

GIFT IFSC Entity Setup Compliance

Legal and compliance support for setting up an IFSC Banking Unit (IBU), Fund Management Entity (FME), or other regulated entity at GIFT IFSC — application preparation and regulatory filing.

IFSCA Licensing Applications

Preparation and filing of licensing applications with IFSCA for regulated activities including fund management, capital markets intermediary, and insurance services.

Periodic Regulatory Returns

Preparation and filing of periodic returns, disclosures, and compliance certificates required by IFSCA regulations for operational entities.

FEMA and GIFT IFSC Interface

Advisory on the intersection of FEMA regulations and GIFT IFSC operations — foreign exchange transactions, remittances, and RBI reporting for IFSC entities.

Section 80LA Tax Benefits

Advisory on and compliance support for claiming the income tax deduction under Section 80LA for GIFT IFSC units — conditions, eligible income, and return filing.

AML / KYC Compliance

Assistance with Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance framework implementation for GIFT IFSC entities under IFSCA PMLA guidelines.

Transaction Structuring Advisory

Structuring of financial transactions — fund launches, debt issuances, derivative contracts — for compliance with IFSCA regulations and FEMA.

Our Process

Regulatory Scoping

We identify the specific IFSCA regulations applicable to your entity type and planned activities at GIFT IFSC, and map the licensing and compliance requirements.

Application Preparation

Licensing applications, regulatory filings, and supporting documentation are prepared in accordance with IFSCA requirements.

IFSCA Submission and Follow-Up

Applications are submitted to IFSCA. We follow up actively for queries, additional information requests, and approval.

Compliance Framework Setup

Post-licensing, we set up the compliance calendar, periodic return schedule, and AML/KYC framework for your GIFT IFSC entity.

Ongoing Regulatory Support

We provide continuous advisory as IFSCA issues new regulations, circulars, and guidelines — ensuring your GIFT IFSC entity remains fully compliant.

Why It Matters

✓IFSCA regulatory framework mapped to your specific entity type and activities

✓Licensing applications for IBU, FME, and other IFSC regulated entities prepared and filed

✓Periodic IFSCA regulatory returns prepared and submitted on time

✓FEMA interface advisory — RBI reporting for IFSC transactions clarified

✓Section 80LA income tax deduction advisory and compliance support

✓AML and KYC compliance framework implemented for IFSCA requirements

✓Transaction structuring for IFSCA regulatory compliance

✓Ongoing regulatory monitoring — IFSCA circulars tracked and compliance updated

Frequently Asked Questions

GIFT International Financial Services Centre (GIFT IFSC) is India's first operational IFSC, located at GIFT City, Gandhinagar, Gujarat. It is regulated by the International Financial Services Centres Authority (IFSCA) and provides a globally competitive environment for financial services — banking, capital markets, insurance, and fund management — in a special economic zone framework.

The International Financial Services Centres Authority (IFSCA), established under the IFSCA Act 2019, is the unified regulator for all financial services at GIFT IFSC. It consolidates the regulatory powers of RBI, SEBI, IRDAI, and PFRDA for IFSC-specific activities.

GIFT IFSC entities can claim a 100% income tax deduction under Section 80LA for 10 consecutive years out of 15 years for eligible income. Additionally, transactions at GIFT IFSC are treated as transactions with a non-resident for FEMA purposes, enabling cross-border financial services in foreign currency.

Entities that can operate at GIFT IFSC include IFSC Banking Units (IBUs), Fund Management Entities (FMEs) managing Alternative Investment Funds and ETFs, insurance and reinsurance offices, capital markets intermediaries (brokers, clearing corporations), and fintech entities under the IFSCA regulatory sandbox.

Yes, FEMA applies to GIFT IFSC transactions. However, GIFT IFSC is treated as a foreign jurisdiction for FEMA purposes, meaning transactions between GIFT IFSC entities and Indian residents are treated as cross-border transactions. Specific RBI directions and IFSCA regulations govern these transactions.

Section 80LA of the Income Tax Act provides a deduction of 100% of income from eligible financial services activities carried out at a notified IFSC (including GIFT IFSC) for any 10 consecutive years within the first 15 years of commencement of business. The deduction is available subject to conditions including a certificate from the IFSCA that the unit has complied with all IFSC regulations.

Need legal and compliance support for your GIFT IFSC entity?

We advise on IFSCA regulations, prepare licensing applications, manage periodic returns, and provide ongoing compliance support — a complete legal and regulatory solution for GIFT City.