GIFT City

Our Services

GIFT City (IFSC) is India’s first International Financial Services Centre, enabling global financial transactions under a unique regulatory framework, while operating within India’s legal system.

Overview of GIFT City (IFSC)

GIFT City (Gujarat International Finance Tec-City) is India’s first International Financial Services Centre (IFSC), established to create a globally competitive financial ecosystem within India. Designed as a specialised financial jurisdiction, GIFT City enables international financial activities to be conducted in foreign currency under a distinct regulatory and tax framework.

Though physically located in India, IFSC entities operate in a framework akin to an offshore financial centre, allowing global transactions while remaining within the Indian legal and judicial system.

Why GIFT City Matters for Global & Indian Businesses

GIFT City represents India’s strategic response to global financial hubs such as Singapore and Dubai. It allows Indian wealth and global business operations to be structured domestically instead of being routed through overseas tax jurisdictions.

Key advantages include:

Significant tax incentives under the Income-tax Act, including long-term tax holidays
A unified regulator – the International Financial Services Centres Authority (IFSCA) – offering single-window oversight
Liberalised foreign exchange regime with full capital and profit repatriation
Ability to conduct transactions in foreign currency without traditional FEMA constraints
Global-standard regulatory framework with lower operational and compliance costs

For Indian businesses and HNIs, GIFT City enables global expansion and wealth management without relocating offshore.
For foreign enterprises, it provides a stable, compliant, and cost-effective gateway to India and global markets.

Business & Tax Opportunities in GIFT City

GIFT City has emerged as a preferred jurisdiction for a wide range of international financial and commercial activities, supported by favourable tax treatment and regulatory certainty, including:

Alternative Investment Funds (AIFs), Family Investment Funds, and fund management entities
Banking, treasury, and global liquidity management operations
Capital market intermediaries and trading platforms
FinTech, InsurTech, and innovative financial services
Aircraft and ship leasing businesses
Reinsurance, captive insurance, and international trading structures

These opportunities allow businesses to achieve higher post-tax returns, operational flexibility, and global scalability.

Our GIFT City Advisory & Compliance Services

At PGAS & Associates, we provide end-to-end professional support to entities operating or proposing to operate in GIFT City (IFSC). Our services are designed to ensure regulatory certainty, tax efficiency, and smooth execution throughout the lifecycle of the IFSC entity.

Entity Structuring and IFSC Entry Advisory

Advisory on optimal legal, ownership, and operational structures for IFSC setup
Eligibility assessment under IFSCA regulations
Structuring of funds, treasury entities, holding companies, and finance arms
Entry planning aligned with global business and investment objectives

Tax Structuring and Optimisation (Direct & Indirect Taxes)

Advisory on IFSC tax incentives, exemptions, and tax holidays (including Section 80LA)
Income-tax planning, including MAT / AMT implications
GST advisory, including zero-rated offshore services and SEZ benefits
Transaction-level tax analysis to ensure sustainable and defensible tax positions

FEMA and Foreign Exchange Compliance

Advisory on liberalised FEMA framework applicable to IFSC entities
Structuring and compliance for foreign currency transactions
Capital account transactions, fund flows, and repatriation planning
Advisory aligned with RBI and IFSCA guidelines to ensure seamless cross-border movement

Regulatory Approvals and Registrations with IFSC Authorities

End-to-end support for registrations and approvals with IFSCA and other regulators
Preparation and review of regulatory applications and documentation
Ongoing regulatory filings and compliance submissions
Liaison with authorities to address queries and observations efficiently

Accounting, Audit, and Compliance Support

Transfer Pricing and International Tax Advisory

Transfer pricing planning and documentation for cross-border and group transactions
Compliance with Indian transfer pricing regulations and BEPS principles
Advisory on permanent establishment risks and profit attribution
Litigation and assessment support in international tax matters

Ongoing Advisory for Operations, Restructuring, and Exits

Continuous advisory for day-to-day IFSC operations
Assistance in business expansion, restructuring, and reorganisation
Support in mergers, divestments, relocations, and exit planning
Advisory aligned with evolving IFSC regulations and long-term business strategies

Our Approach

Our approach is structured, practical, and compliance-driven:

1. Understanding business and investment objectives

2. Evaluating regulatory, tax, and operational feasibility

3. Designing IFSC-compliant and globally aligned structures

4. Assisting with approvals, registrations, and implementation

5. Providing ongoing advisory, compliance, and risk mitigation

Why PGAS & Associates

Our approach is structured, practical, and compliance-driven:

Deep expertise in taxation, FEMA, and international structuring

Strong understanding of IFSC laws, regulations, and policy intent

Practical, execution-focused advisory beyond theoretical structuring

Experience in complex, high-value, and high-scrutiny matters

Clear communication, accountability, and long-term advisory support

Our Key Deliverables

Our engagements typically result in:

Compliant and well-structured IFSC entities

Optimised tax and regulatory outcomes

Complete approval and documentation support

Robust compliance and reporting frameworks

Reduced regulatory risk and operational uncertainty

Get in Touch

If you are considering setting up operations in GIFT City or restructuring your international operations, PGAS & Associates can assist you with clarity, confidence, and compliance.