Notification F. No. IFSCA/GN/2026/002, Dated 05.01.2026
1. Introduction
International Financial Services Centres Authority (IFSCA) has removed the minimum office space requirement for Book-keeping, Accounting, Taxation and Financial Crime Compliance (BATF) service providers operating in International Financial Services Centres.
2. Regulatory Background
The change has been notified vide Notification No. F. No. IFSCA/GN/2026/002 dated 05 January 2026, through the IFSCA (Book-keeping, Accounting, Taxation and Financial Crime Compliance Services) (Amendment) Regulations, 2026.
3. Removal of Minimum Office Space Requirement
The amendment omits Regulation 12 of the principal regulations, which earlier mandated a minimum office space of 60 sq. ft. carpet area per employee for BATF service providers in IFSC.
4. Consequential Amendments
Consequential changes have also been made to the Second Schedule of the regulations, aligning the framework with the removal of physical infrastructure norms for such service providers.
5. Conclusion
The amendment, effective from the date of publication in the Official Gazette, is aimed at easing compliance and promoting operational flexibility for BATF service providers, further strengthening IFSCs as a competitive global financial hub.
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