Gift City, located in Gujarat, India, is a planned city envisioned as a global financial and IT hub. It functions as an International Financial Services Centre (IFSC), offering a world-class business environment with a focus on ease of doing business and attracting foreign investment.
A wide range of companies can set up operations in Gift City. Here are some key categories:
- Financial Services: Banks, insurance companies, stock exchanges, asset management firms, alternative investment funds (AIFs), and more.
- Non-Financial Services: Global In-house Centers (GICs) of multinational corporations, companies involved in aircraft leasing, ship leasing, and certain types of IT and IT-enabled services (ITES).
- Ancillary Services: Companies providing support services to the financial and non-financial institutions operating in Gift City, such as legal firms, accounting firms, and consultancy firms.
Additional factors for eligibility:
- The company's business activity should be compatible with the objectives of Gift City.
- The company must meet the regulatory requirements of the relevant authority (e.g., IFSCA, SEZs).
Gift City offers a number of attractive benefits to companies, including:
- Tax Advantages: A 10-year income tax holiday for profits earned in the IFSC. Lower Minimum Alternate Tax (MAT) compared to the rest of India. Exemption from capital gains tax on the sale of units within Gift City. Exemption from dividend distribution tax and long-term capital gains tax on investments made in India from Gift City.
- Regulatory Ease: Streamlined regulations, single window clearance for approvals, and faster turnaround times.
- Global Benchmarking: International financial regulations and best practices are followed, ensuring transparency and a level playing field.
- Advanced Infrastructure: World-class infrastructure with high-speed connectivity, uninterrupted power supply, and secure IT facilities.
- Ease of Doing Business: Simplified procedures for starting and operating a business, including online registration and reporting.
- Lifestyle Advantage: Modern, well-planned city with residential facilities, educational institutions, healthcare services, and recreational amenities.
Overall, Gift City presents a compelling opportunity for companies seeking to establish a presence in India or expand their global operations. The combination of tax benefits, regulatory ease, and advanced infrastructure makes it an attractive hub for financial and IT businesses.
