IFSC FAQs dated 13.04.2026
The International Financial Services Centres Authority (IFSCA) has released Frequently Asked Questions (FAQs) on the IFSCA (Global In-house Centres) Regulations, 2025, providing clarity on the regulatory framework governing GIC Units in IFSCs.
1. What is a GIC Unit?
A Global In-house Centre (GIC) Unit refers to:
- A unit established in an IFSC
- Providing services related to:
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- Financial products
- Financial services
- Serving a Financial Institution Group under permitted operating models
2. Eligibility to Set Up GIC Units
Entities qualifying as a Financial Institution Group are eligible to apply for setting up a GIC Unit in IFSC
3. Permissible Structures
A GIC Unit can be established as:
- A company in IFSC
- A Limited Liability Partnership (LLP) in IFSC
- A branch of an entity incorporated outside IFSC
4. Application Process
- Applications must be submitted through the Single Window IT System (SWIT)
- The Authority may grant in-principle approval, subject to compliance with specified conditions
5. Conditions and Timelines
- Applicants must fulfil prescribed conditions within specified timelines
- Final approval is contingent upon compliance with all regulatory requirements
6. Conclusion
The FAQs provide much-needed clarity and operational guidance for entities looking to establish GIC Units in IFSC, supporting the development of a structured, transparent, and globally competitive financial services ecosystem.
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