GIFT CITY: BEST OPTION FOR SUCCESSION PLANNING, INTERNATIONAL FAMILY OFFICE?

Indian high net worth families are becoming increasingly proactive in diversifying their investment portfolios and exploring global opportunities. The trend of setting up or expanding family offices in foreign jurisdictions like Singapore and Dubai aligns with their pursuit of favourable business environments, tax incentives, and access to international financial markets.

- ROHIT JAIN & ROOPAL BAJAJ

International Financial Services Centre (IFSC) at the Gujarat International Finance Tec-City (GIFT City) is catching the attention of such Indian families as a potential base for their global investment operations. GIFT IFSC aims to facilitate onshoring of offshore transactions and provide financial services that adhere to international standards, offering similar advantages to those of established financial centres like Singapore and Dubai.

Fund managers operating in IFSC will have to obtain one single umbrella registration with unified regulator (IFSCA) vis a vis the existing approach of multiple registrations wherein funds or various investment products offered by the asset manager were required to be registered with market regulator Sebi.