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GIFT City / IFSC

TAX-EFFICIENT ONSHORE GATEWAY

Open an IFSCA-regulated brokerage or fund account inside GIFT City, Gujarat — India's onshore offshore financial centre.

The Onshore-Offshore Financial Hub

GIFT City provides an unprecedented opportunity to access global markets with the comfort of familiar onshore regulation, combined with offshore tax efficiencies. It acts as an International Financial Services Centre (IFSC) right inside Gujarat, India.

Tax Exemptions

Zero STT (Securities Transaction Tax), Zero CTT, and Zero GST on transactions executed through the IFSC exchanges.

Dollar-Denominated

Accounts and transactions are in USD. Keep your capital in foreign currency to avoid repeated FX conversion friction.

Institutional Quality

Gain access to specialized Alternative Investment Funds (AIFs), PMS, and global derivatives generally reserved for institutional wealth.

Unified IFSCA Regulator

Highly regulated by the IFSCA, offering a trustworthy environment without the headache of purely offshore tax havens.

[ GIFT CITY INFRASTRUCTURE ]

Exchanges & Demat

DOMESTIC BROKERS WITH GLOBAL ACCESS

Platform / Entity	Type	Offering & Links
HDFC (IFSC Branch) Banking Unit	BANK / BROKERAGE	IFSC Banking Unit providing foreign currency accounts and demat/brokerage services in GIFT City.
India INX (BSE) BSE Subsidiary	EXCHANGE	BSE's subsidiary offering global stocks, ETFs, and derivatives. Retail trading via India INX Global Access →
NSE IX NSE Subsidiary	EXCHANGE	NSE's international arm offering unsponsored depository receipts of top US stocks (like Apple, Tesla). Visit NSE IX →
Dhan Co	EXCHANGE	Retail broker offering access to global stocks, ETFs, mutual funds, and fixed deposits via GIFT City.
Zerodha	EXCHANGE	Launching soon in GIFT City.
Groww	EXCHANGE	Launching soon in GIFT City.
Angel One	EXCHANGE	Launching soon in GIFT City.
Upstox	EXCHANGE	Launching soon in GIFT City.

Outbound Funds (Retail vs AIF vs PMS)

Market Structure: GIFT City now categorizes funds into three tiers. Retail Funds have low $5,000 minimums but face fund-level taxation. AIFs (Alternative Investment Funds) often utilize Cayman/Irish routes to avoid "churn tax" but have lock-ins. PMS (Portfolio Management Services) require a $75,000 minimum and have zero lock-ins but attract churn tax on rebalancing.

Fund / Strategy	Vehicle	Min. Investment	Allocation Highlights	Tax & Lock-in Structure
Marcellus Global Equities	RETAIL	$5,000 Top-up: $2,000	Index tracking S&P 500	Fund-level taxation 2% exit load under 24m.
DSP Global Equity	RETAIL	$5,000 Top-up: $500	40% US, 32% EU, Rest Japan & China	Fund-level taxation Investor exits can impact tax.
PPFAS Nasdaq 100 / S&P	RETAIL	$5,000 Top-up: $500	90% US Index, 10% Cash/Debt	Fund-level taxation Low ~0.5% management fee.
Edelweiss Greater China	RETAIL	$5,000 Top-up: $500	China, Taiwan, Hongkong	Fund-level taxation Low valuation China play.
Marcellus GCP Fund	AIF	$150,000 Top-up: $10,000	62% US, Rest EU & Canada	No churn tax (Cayman route) 2-year lock-in.
Ionic Global Innovation	AIF	$150,000 Top-up: $10,000	45% US, 25% Europe	No churn tax (Cayman route) Fortnightly redemption.
Ashoka WhiteOak EM	AIF	$150,000 Top-up: $10,000	Emerging markets Ex-India	No churn tax Feeds into an Irish-domiciled UCITS.
ABSL Global Bluechip	AIF	$150,000 Top-up: $10,000	66% US, Rest EU & Others	4-year lock-in Feeder structure.
Mirae Asset Global Allocation	AIF	$150,000 Top-up: $10,000	50-70% Developed, 30-50% EM	3-year lock-in Close ended fund.
Baroda BNP US Smallcap	AIF	$150,000 Top-up: $10,000	100% US Small-Cap	2-year lock-in Concentration risk.
Rational Gold & Silver	AIF	$150,000 Top-up: $10,000	80% Gold miners, rest Silver	Commodity Risk Sector concentration.
Unifi G20 Fund	AIF	$150,000 Top-up: $10,000	60% US, 8% Taiwan, Tech Niche	2-year lock-in Tech concentration.
PPFAS Global Strategy	PMS	$75,000 Top-up: $25,000	Global companies with diversified revenues	Zero exit load Tax on churn applies.
Phillip Int. Pioneer Portfolio	PMS	$75,000 Top-up: $25,000	67% US, Rest Japan/Taiwan/Others	Wider diversification via ETFs Tax on churn applies.
Marcellus GCP PMS	PMS	$75,000 Top-up: $25,000	62% US, Rest EU & Canada	Zero exit load Tax on churn applies.