Financial services in GIFT IFSC

Financial services in IFSC encapsulate a multitude of activities designed to facilitate seamless global transactions, ensuring efficiency, and adherence to international standards.

🌍 International Focus and Regulatory Framework:

IFSC's financial services are exclusively provided by units regulated by the IFSCA

These services cater specifically to non-residents, or Residents Indian / Indian Corporates willing to Invest Outside India.

The spectrum of services includes:

1. 📈 Buying, Selling, or Subscribing to Financial Products: Engaging in the trade of diverse financial instruments and assets. Example: A financial institution in IFSC facilitating the purchase and sale of stocks, bonds, or other financial instruments on behalf of international investors. Motilal Oswal Financial Services Ltd True Beacon

2. 🏦 Acceptance of Deposits: Safely receiving and managing deposits from clients. Example: An IFSC bank receiving deposits from non-resident clients and providing them with a secure platform for managing their funds. HDFC Bank Kotak Mahindra Bank Axis Bank HSBC DBS Bank Bank of America Business

   
   

3. 💼 Safeguarding and Administering Assets: Ensuring the secure management of financial products on behalf of clients. Example: A wealth management firm in IFSC responsible for safeguarding and managing the investment portfolios of high-net-worth clients. J.P. Morgan Wealth Management IQ-EQ Apex Group Ltd (India Branch) 

   
   

4. 🛡️ Effecting Contracts of Insurance: Facilitating insurance agreements to manage risks. Example: An insurance company within IFSC issuing international insurance policies to cover risks for businesses operating globally. New India Assurance Bajaj Allianz Life Insurance HDFC Life NRMA Insurance

   
   

5. 📊 Offering, Managing, or Agreed Asset Management: Providing comprehensive asset management services. Example: An asset management company in IFSC creating and managing investment funds for a diverse group of global investors. Kotak Mahindra Asset Management Companies Limited HDFC AMC

   
   

6. 🔍 Exercising Rights Associated with Financial Products: Acting on behalf of clients in relation to their financial assets. Example: A financial services provider in IFSC acting on behalf of clients to vote on shareholder resolutions or exercise other rights associated with their financial holdings. INDIA INX GLOBAL ACCESS (INDIAINXGA) NSE International Exchange (NSE IX) India International Bullion Exchange IFSC Ltd (IIBX)

   
   

7. 📈 Establishing or Operating Investment Schemes: Creating and managing investment schemes for clients. Example: IFSC-based fund managers setting up and operating mutual funds or hedge funds for international investors. Alpha Alternatives 3one4 Capital True Beacon

   
   

8. 📚 Maintaining or Transferring Records of Ownership: Ensuring accurate and secure record-keeping of financial product ownership. Example: An IFSC-based registrar maintaining accurate records of ownership for international investors holding securities in global markets. StockHolding Securities IFSC Limited (SSIL)

   
   

9. 🤝 Underwriting Issuance or Subscription of Financial Products: Facilitating the issuance and subscription of various financial products. Example: IFSC investment banks underwriting the issuance of international bonds or facilitating the subscription of new financial products.

   
   

10. 💳 Providing Information about Financial Standing or Creditworthiness: Offering insights into the financial standing and creditworthiness of individuals or entities. Example: Credit rating agencies in IFSC offering assessments of the creditworthiness of international companies for investors and lenders. CRISIL Limited

    
    

11. 💸 Issuing Stored Value or Payment Instruments: Providing instruments for secure and efficient financial transactions. Example: IFSC-based fintech companies providing international clients with digital wallets or payment instruments for seamless cross-border transactions.

    
    

12. 🔄 Arranging Services in the Above Categories: Facilitating the seamless integration of various financial services. Example: Financial advisory firms in IFSC offering comprehensive services by coordinating various financial activities for their clients.

    
    

13. 📋 Rendering Advice on Financial Products or Services: Providing expert advice on financial products and services. Example: IFSC-based financial consultants providing expert advice to international clients on investment strategies or financial planning. 

    
    

14. 💼 Book-keeping, Accounting, Taxation, and Financial Crime Compliance Services: Offering essential financial management and compliance services. Example: An IFSC-based accounting firm offering bookkeeping, tax planning, and financial crime compliance services to multinational corporations operating globally. e.g Bookkeypr AVA Network 

⚖️ Integrity and Independence:

To maintain the integrity of IFSC services, units are prohibited from offering services through the transfer or receipt of existing contracts or work arrangements from their group entities in India.

🔍 Adaptability to Change: IFSC remains dynamic, with the Central Government having the authority to notify additional services, reflecting its adaptability to evolving global financial needs.

Feel free to reach out for further clarifications or to explore more about the fascinating world of IFSC Financial Services. Let's continue learning and growing together! 🚀💼

Disclaimer: This post is for general informational purposes only and not professional advice. We do not guarantee the accuracy or reliability of the content. Use this information at your own risk. We are not liable for any loss or damage arising from its use. Consult professionals for your specific situation.