GIFT City foundations
GIFT City is a planned business district near Gandhinagar, Gujarat.
Guides in this section
GIFT City, its SEZ and its IFSC
Gujarat International Finance Tec-City (GIFT City) is a greenfield city on the Sabarmati river between Ahmedabad and Gandhinagar. Part of it is a multi-services Special Economic Zone; within that zone is the International Financial Services Centre, known as GIFT IFSC.
Read the guide →IFSC, SEZ and domestic tariff area compared
GIFT City contains three legal spaces: the IFSC, the rest of the SEZ, and the domestic tariff area (DTA). The table shows how each is treated for the questions that matter most.
Read the guide →IFSCA: the unified regulator
The International Financial Services Centres Authority (IFSCA) is the unified regulator for financial products, services and institutions in Indian IFSCs. It was established on 27 April 2020 under the IFSCA Act, 2019, and is headquartered at GIFT City.
Read the guide →Who regulates what at GIFT City
Most activities in GIFT IFSC answer to IFSCA, but a typical set-up also touches the Ministry of Corporate Affairs, the income-tax department, the SEZ framework, the State of Gujarat and, for anything crossing into India, the Reserve Bank of India and SEBI.
Read the guide →How an activity becomes permissible in the IFSC
An activity is permitted in the IFSC when the Central Government has notified it as a financial product, financial service or financial institution under the IFSCA Act, and IFSCA has issued a framework under which an entity can be registered to carry it on.
Read the guide →GIFT City legal timeline, 2007-2026
Key dates in GIFT City's legal history, from the city's conception to the rules in force today.
Read the guide →Frequently asked questions
Short answers to the questions we are asked most often. Each links to the full page.
Is GIFT IFSC offshore?
It is onshore India, treated as offshore for exchange control. An IFSC unit is generally a person resident outside India under FEMA, but it is incorporated in India, taxed in India and regulated by an Indian authority.
Do I need an Indian company?
Not always. Many frameworks allow a branch of a foreign entity, and some allow an LLP. See Company, LLP or branch.
How long does registration take?
IFSCA states an aim of deciding applications within 45 days, with first contact within 7 working days. That is IFSCA's stated aim, not a legal deadline, and SEZ approval and incorporation run alongside it.
Is the tax holiday automatic?
No. The section 147 deduction applies to eligible income of eligible units, is claimed in the return with the report in Form No. 35, and has conditions, including the splitting-up test for units starting on or after 1 April 2026.
Can Indian residents invest?
Yes, within the Liberalised Remittance Scheme and other FEMA routes. See Resident individuals investing through GIFT.
Official bodies and portals
The official bodies and portals referred to throughout this Guide.
Regulator and government
- IFSCA: ifsca.gov.in - regulations, circulars, consultations, FAQs, statistics.
- SWIT: swit.ifsca.gov.in - applications.
- GIFT City: giftgujarat.in - city, real estate, set-up guides.
- Income Tax Department: incometaxindia.gov.in - the Income-tax Act, 2025, rules and forms.
- Reserve Bank of India: rbi.org.in - FEMA directions.
- SEBI: sebi.gov.in - FPI and Indian-market interface.
- Ministry of Corporate Affairs: mca.gov.in - incorporation and filings.
Exchanges and market infrastructure
- India International Exchange (India INX)
- NSE International Exchange (NSE IX)
- India International Bullion Exchange (IIBX)
Authorities and further reading
The official instruments and pages this guide relies on. Check the current version on the issuer's site before acting.
- Income-tax Act, 2025 - section 147 (as substituted by Act 4 of 2026)CBDT (incometaxindia.gov.in)
- Form No. 35 - report under s.147(4)(a), Rule 69Income Tax Department
- IFSCA SWIT portalIFSCA
- GIFT City official website (homepage)GIFT City (giftgujarat.in)
Talk to the firm about your plans.
A short note on what you are setting up is enough for a first conversation. No confidential information is needed at this stage.
Arrange a consultation →