IFSC set-up

Which IFSC licence fits what you want to run?

Most global capability centres in GIFT City use one of the first three routes. Pick the one closest to your plan; we confirm the exact route in a scoping call.

Global In-House Centre (GIC)

A unit that provides services related to financial products and services to its financial institution group.

IFSCA (Global In-House Centres) Regulations, 2025 (notified December 2025)

Start a Global In-House Centre set-up

Who qualifies: A financial institution group: banks, NBFCs, insurers, brokers, exchanges and similar institutions, and their group entities (parent, subsidiary, joint venture, associate, common brand, 20%+ equity or network member).
Who it serves: Group entities outside India, in jurisdictions not on FATF's high-risk list. Indian group entities can be served for up to 10% of the GIC's revenue in a financial year.
Operating models: Captive centre, build-operate-transfer, joint venture, hybrid, or another model IFSCA permits.
People: A Principal Officer and a Compliance Officer, both full-time and based in the IFSC.
What's not allowed: A GIC cannot be set up by moving existing contracts or work from the group's Indian entities.
Approval: Apply on SWIT. IFSCA grants in-principle approval, you meet the conditions within 180 days, then IFSCA grants registration.

Set-up journey

Timeline on request

· Understand current business and GIFT City plans
· Structuring of the GIFT City entity
· Liaise with developers for provisional letter of allotment
· Arrange meetings with regulators (IFSCA / GIFT)
· Confirm the group qualifies as a financial institution group
· Choose the operating model: captive, build-operate-transfer, joint venture or hybrid

· Name reservation of company / LLP
· Draft object clause per the applicable IFSCA regulations
· Draft MoA / AoA / LLP agreement
· File incorporation form with MCA
· File relevant company / LLP forms with MCA

· File SWIT application for the GIC unit
· Business plan and list of group entities to be served
· Fit-and-proper declarations for the unit, officers and controlling shareholders
· Regulator liaison until in-principle approval

· Appoint full-time Principal Officer and Compliance Officer based in the IFSC
· Office in the IFSC and other conditions in the in-principle approval
· Submit compliance to IFSCA and obtain the certificate of registration

· SEZ online registration and credential creation
· Bond cum Legal Undertaking (BLUT) with IFSCA Administrator
· Letter of Acceptance filing
· Eligibility certificate for tax exemption (IFSCA Administrator)
· Import Export Code (IEC) registration
· e-Registration cum Membership Certificate (RCMC)
· GST registration
· Letter of Undertaking (LUT) with GST authorities
· Lease deed execution and registration with co-developer
· Update SEZ online (GST, IEC, lease deed, BLUT)
· SEZ portal ID cards for employees
· Professional tax and Shops and Establishments registration
· FIN-net portal registration (AML compliance)
· ICEGATE portal registration

· File for commencement of business (SEZ)

Indicative timeline from ScaleAX's set-up process notes. Actual time depends on regulator responses and how quickly documents are ready.

Not a financial services business?

You can still use GIFT City. Professional and technology teams serving overseas clients can use the TAS route, and any company can take offices in GIFT City's domestic area, outside the IFSC. Corporate groups can also run their treasury from here as a GRCTC.

What ScaleAX does

Route and structure

Which licence, which entity, which operating model, including build-operate-transfer for GICs.

Filing and approvals

Drafting, the SWIT application and follow-up with IFSCA and the SEZ office until approval.

Office and people

Office space in GIFT City, the Principal Officer, Compliance Officer and the wider team hired and on payroll.

Run and report

Accounting, tax, IFSCA and SEZ compliance, and AML reporting after go-live.

GIFT City

More on GIFT City

OverviewWhat ScaleAX does in GIFT CityView page Why GIFT CityRegulator, currency and tax regimeView page FacilitiesServices around the officeView page JobsOpen roles at GIFT City employersView page FAQCommon questions answeredView page

Tell us what you want to run from GIFT City.

We'll confirm the licence route, the people you need and a set-up timeline.

Plan your GIFT City set-up

Which IFSC licence fits what you want to run?

Global In-House Centre (GIC)

Set-up journey

01Pre-set-up advisory1–2 weeks

02Incorporation in GIFT IFSC2–3 weeks

03SWIT application and in-principle approvalSet by IFSCA

04Meet conditions and obtain registrationUp to 180 days (regulatory limit)

05Post-set-up compliances3–5 weeks

06Go-liveAbout 1 week

Not a financial services business?

What ScaleAX does

More on GIFT City

Tell us what you want to run from GIFT City.

Which IFSC licence fits what you want to run?

Global In-House Centre (GIC)

Set-up journey

01Pre-set-up advisory1–2 weeks

02Incorporation in GIFT IFSC2–3 weeks

03SWIT application and in-principle approvalSet by IFSCA

04Meet conditions and obtain registrationUp to 180 days (regulatory limit)

05Post-set-up compliances3–5 weeks

06Go-liveAbout 1 week

Not a financial services business?

What ScaleAX does

More on GIFT City

Tell us what you want to run from GIFT City.