I’m interested in starting to invest through GIFT IFSC and opening a Forex bank account there. However, I haven’t found any mutual funds or brokers operating from GIFT City yet.
Anyone know how to get started?
Gift isn’t meant for domestic investors. It is a low-touch regulatory environment to attract foreign investors.
This is actually for non indians , only non indians can register there to avail the tax benefits .
As far as i know !
I’m a non-resident. I see there is a tax holiday on capital gains there, so it just makes sense for me to invest through there instead of domestic indian funds and brokers - I just can’t find any operational brokerages/mutual funds. It’s almost like the building blocks are in place but it’s not operational yet.
Yeah, you have to find brokerages doing business there. Btw the ones who are active are FPIs and not NRIs.
Yeah, that seems kinda hard. I can’t find any retail (or even HNI) focused brokerage. Most Wealth advisors I know in India don’t have any products based there either.
Gift seems to be an amazing tax efficient investment avenue for NRIs with much less red tape. I’m just waiting for a Zerodha like Broker to start operations there with NSE IX and INDIA INX.