Resource
Refer to the official IFSCA platform for detailed regulations. We simplify it for your ease.
GIFT City Banking Setup Services
Our firm provides comprehensive support for your GIFT City banking setup, guiding you through the process of establishing an IFSC Banking Unit (IBU). We assist with every stage, from the initial application and regulatory approvals to ensuring your operations are fully compliant with IFSCA norms. Our expertise allows you to tap into the immense potential of offshore banking from a strategic Indian base.
We offer a full range of advisory for IFSC banking services, helping you structure your IBU to serve global clients with products like foreign currency deposits, syndicated loans, and trade finance.
With our guidance on your GIFT City banking setup, you can leverage a tax-efficient and globally integrated platform to expand your international banking footprint.
What is IFSCA?
IFSCA is the unified regulator for all financial services in India’s International Financial Services Centre (IFSC), GIFT City. It oversees banking, insurance, capital markets, and fund management operations.
Why Invest via IFSC (GIFT City)?
- Tax Benefits: 100% tax exemption for 10 consecutive years out of 15.
- Global Currency Transactions: Easily transact in foreign currencies like USD, EUR, etc.
- Repatriation-Friendly: Full capital and profit repatriation allowed.
- Ease of Business: Relaxed norms compared to domestic banking.
- Global Market Access: Operate like an offshore unit while staying in India.
Banking Business You Can Do in IFSC
Operate wholesale, retail, or fully digital banking units—serving global clients, NRIs, and fintechs under IFSCA’s streamlined framework.
Wholesale Banking Unit (WBU)
For cross-border trade, external commercial borrowings, and large corporates.
Retail Banking Unit (RBU)
For NRIs, foreign citizens, and IFSC employees to open foreign currency accounts.
Digital Banking Units
Provide services via fully digital infrastructure.
How to Set Up a Banking Unit in IFSC?
Setting up a banking unit in the International Financial Services Centre (IFSC), GIFT City, involves a structured yet investor-friendly process. Designed to promote global financial participation, IFSC enables Indian and foreign banks to operate in a simplified regulatory environment governed by IFSCA.
Here’s a step-by-step guide:
Scheduled Commercial Banks in India
Foreign Banks (with 5 years+ track record)
Wholly Owned Subsidiaries of Foreign Banks
Application Form (Annexure A)
Business Plan for 3 years
KYC/AML Policy
Details of compliance and risk systems
Want to know how long your setup will take?
Try the Licensing Timeline ToolUse our real-time Licensing Timeline calculator — we analyze your needs and provide a personalized estimate.
Try the Licensing Timeline Tool.
Get Banking Unit Approval—Fast Track Available!
Limited slots this quarter for WBU/RBU registration.
Calculate Smarter Investments in GIFT City
With GiftCityAdvisor’s Free Investment Calculator, find out how to save more and grow faster in GIFT City.
Tax Savings Estimator
Discover exact tax breaks your business could gain inside GIFT City.
Licensing Timeline
Map your journey from application to approval with ease.
Regulatory Fit Checker
Instantly know if your business qualifies for IFSC operations.
Regulatory Highlights
Operating under the International Financial Services Centres Authority (IFSCA), banking units in GIFT City benefit from a progressive regulatory framework aligned with global best practices. From capital flexibility to digital onboarding and simplified compliance, IFSC offers an ecosystem built for innovation and international scale.
Capital Requirement
Minimum USD 20 million for a WBU
(May vary by entity type and service scope)
Prudential Norms
Basel III compliance, Risk-based KYC norms, IFRS reporting optional
Digital Banking
Fully online customer onboarding allowed
API integrations for cross-border payments
Services We Offer as Your
GiftCityAdvisor
At GiftCityAdvisor, we simplify the complexity of setting up in GIFT City by offering personalised, end-to-end support for IFSCA registration, compliance, and expansion. Whether you’re a global fund, bank, startup, or NRI investor, our solutions are tailored to your journey.
| Service | Description |
|---|---|
| Eligibility Assessment | We evaluate if your business qualifies for IFSC setup |
| Documentation & Filing | Complete end-to-end filing, with legal & financial prep |
| Business Plan Guidance | Support in creating a strategic 3-year plan |
| Regulatory Compliance | Ongoing compliance updates and reporting support |
| NRI-Focused Solutions | Customised setup for NRIs or UK-based investors |
| Post-License Advisory | Continued strategic support after registration, including regulatory updates, renewals, and operational guidance. |
Frequently Asked Questions
Can foreign banks open branches in GIFT City?
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Yes, foreign banks can set up IFSC Banking Units (IBUs) in GIFT City, subject to IFSCA approval.
What is the process to establish a banking unit in GIFT City?
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The process involves entity approval, license application to IFSCA, infrastructure setup, and operational clearance.
What are the advantages of setting up a bank in GIFT City?
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Benefits include tax incentives, simplified foreign exchange operations, regulatory clarity, and access to global financial markets.
Do you help with RBI and IFSCA approvals?
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Yes, we assist in preparing applications, liaising with authorities, and meeting compliance for all required approvals.
How long does the banking license process take?
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The average timeline is 8–12 weeks, depending on documentation and regulatory response.
Talk to Our Advisors
Let’s make your GIFT City journey smooth and rewarding. Fill out a quick form, and our expert will call you back within 24 hours.