Step-by-Step Process for Business Setup in GIFT City (2025)

Setting up a business in Gujarat International Finance Tec-City (GIFT City) might seem overwhelming at first—but with the right guidance, it can be an exciting and strategic move. GIFT City is India’s first International Financial Services Centre (IFSC), designed to meet global standards while offering top-tier infrastructure, tax benefits, and regulatory ease. Whether you’re a startup or a multinational, establishing your presence here opens doors to growth, innovation, and global markets.

With the right strategy and guidance, the process can be both smooth and rewarding. In this blog, we will explain the full journey of setting up your business in GIFT City step by step.

• A detailed walkthrough on how to start a business in GIFT City.
• Covers everything from selecting the best business structure to getting the necessary approvals.
• Step-by-step guidance through the GIFT City registration process.
• Helpful tips and practical insights to make setup easier.
• Real-world data points to support your planning.
• Tailored advice for both new entrepreneurs and experienced businesses.

1. Why Set Up in GIFT City?

GIFT City isn’t just a location—it’s a future-ready business ecosystem.

• Zero GST on services to offshore clients.
• 100% income tax exemption for 10 out of 15 years.
• No STT, CTT, or DDT, making it highly tax efficient.
• World-class infrastructure and plug-and-play workspaces.
• A unified regulatory body, the IFSCA, streamlines financial sector regulations.

📊 As of early 2025, over 500 companies operate in GIFT City, including banks, insurance firms, fintechs, and global trading houses.

2. Choosing the Right Business Structure

Your business structure defines how you operate and comply within GIFT City. Common options include:

• Private Limited Company: Ideal for scaling and fundraising; offers limited liability.
• Limited Liability Partnership (LLP): Perfect for small firms or professional services.
• Branch Office: Great for foreign or Indian companies expanding into GIFT City.

📌 Tip: Over 60% of businesses here are set up as Private Limited Companies due to flexible compliance and funding support.

3. Reserve a Unique Company Name

Head to the MCA portal and check for name availability.

• Make sure your name is distinct and compliant.
• Submit your name reservation online.

💡 Choosing a strong name builds early trust and sets the tone for your brand.

4. Secure Office Space

Every GIFT City business must have a physical office in the SEZ area.

• Lease a space or choose a co-working office.
• Obtain the Provisional Letter of Allotment (PLOA) from a co-developer.

💸 Rental costs in GIFT City typically range between ₹60–₹100/sq. ft., depending on the property type.

5. File Your Application with SEZ Authorities

You’ll need to submit a detailed application package:

• Form F and annexures
• ₹5,000 demand draft
• PLOA
• 5-year business projection report
• Incorporation documents: PAN, MOA, AOA
• Board Resolution, director KYC
• 3 years of audited financials (if applicable)
• Compliance affidavit

📂 Submit copies to:

• Development Commissioner
• GIFT City co-developer for NOC
• Your own records

6. Attend the Unit Approval Committee (UAC) Meeting

Once your application is reviewed:

• Present your business plan and answer queries.
• If approved, you’ll receive the Letter of Approval (LOA).

✅ This is your official permit to operate within the SEZ.

7. Finalize the Lease Agreement

Post-LOA steps:

• Accept the terms formally via Letter of Acceptance.
• Execute your lease deed within 6 months.

📝 Ensure legal review of lease terms to safeguard your operational flexibility.

8. Complete Final Registrations

Before you start operations:

• Register your unit on the NSDL SEZ portal.
• Submit your Bond-cum-Legal Undertaking (BLUT).
• Get these registrations:
  • GST (if relevant)
  • Import Export Code (IEC)
  • RCMC under the Foreign Trade Policy

📎 These are crucial for importing/exporting or claiming duty exemptions.

9. Register with the IFSCA

If your business falls under financial services:

• Apply via the IFSCA portal.
• Fulfill all compliance requirements.
• Pay registration and licensing fees.

🏦 The IFSCA oversees 40+ banks, 20+ insurers, and 25+ fintech firms currently operating in GIFT City.

10. Begin Operations

Final touches before you launch:

• Notify the Development Commissioner of your operational start.
• Submit a copy of your first tax invoice or proof of activity.

🎉 You’re officially open for business in one of India’s most forward-looking financial hubs!

Final Thoughts

Setting up a business in GIFT City is more than just ticking regulatory boxes. It’s about aligning your vision with a growth-ready, globally connected platform. With tax incentives, simplified compliance, and next-gen infrastructure, GIFT City is the perfect launchpad for ambitious businesses. From selecting your business structure to completing the registration process, every step you take here positions you for long-term success. If you need help navigating the process, connect with an expert at FinGuru India to get personalized guidance.