Amicorp has officially opened its Gujarat International Finance Tec-City (“GIFT City”) office to provide on-the-ground support for domestic and international clients looking for Trust and Fund administration services in India’s first and only International Financial Services Center (“IFSC”).
It follows another office opening in Kuala Lumpur, Malaysia, in October as the Group continues to strengthen its offering across emerging markets.
Established by the Government of India as a Special Economic Zone (“SEZ”), GIFT City is a commercial district designed to compete with other IFSCs, with its ¬¬own regulated business environment that offers lucrative benefits such as reduced regulations and taxes, simplified cross-border transactions, and convenient currency conversion facilities.
These favourable conditions have been designed to attract international financial institutions, investors and service providers that can offer a wide range financial and capital market products, making it an attractive hub for Fund managers looking to access international markets and investors, and as a channel to diversify their portfolios and reduce exposure to risks associated with operating solely within domestic markets.
How can Amicorp help?
Amicorp has an Ancillary Service Provider license in GIFT City, allowing our team to provide a range of administrative services, from entity initiation to ongoing compliance and operational support. Our services include:
- Fund Set up: Executing and Registering Indenture of Trust; executing Investment Management Agreement; processing IFSC, and vetting PPM.
- Compliance Services: Managing PAN, TAN, and other registrations for the Trust; filing IFSC Quarterly Compliance Reports; obtaining Annual Compliance Certificate on Fund operations; tax compliance
- Accounting: Recording Fund transactions; preparation of financial statements and monthly Management Information System; preparing unit statements for investors; computation of Net Assets Value (NAV); annual financial audit support; preparation of data for various IFSC filings and other regulatory bodies
- Fund Administration and Operations: Acting as a single-point coordinator between managing partners and different service providers; maintaining Investor Database as prescribed by IFSC, managing Investor Relations desk, sending updated MIS to Institutional Investors; ensuring KYC compliance for the Fund and its investors
- Company Secretarial Duties: Carry out compliance audit as required under SEBI (Investment Advisors) regulations; prepare agenda and minutes for Board and General meetings; monitor Companies Act and Secretarial Standards amendments; prepare, certify and file ROC reporting requirements; monitor Scores Portal, prepare and maintain registers
To find out more about GIFT City and what Amicorp can offer, please contact the team here
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