Setting up a Unit

1. Process for setting up IFSC Unit in GIFT SEZ-IFSC

• Submission of Interest Letter/Mail by the organization for taking up space in incubation facility at GIFT SEZ for setting up unit in GIFT SEZ-IFSC as per the prescribed format.

• GIFT SEZ will give the Proposal to the applying organization for taking up space in incubation facility in GIFT SEZ.

• The organization to provide the confirmation/acceptance for the Proposal sent by GIFT SEZ.

• Post confirmation, GIFT SEZ will issue Provisional Letter of Allotment (PLOA) to the organization for providing office space for setting up IFSC Unit in GIFT SEZ.

• Organization to submit application (Form-F) to Development Commissioner, KASEZ for taking approval for setting up IFSC Units in GIFT SEZ along with the relevant documents including PLOA issued by GIFT SEZ.

• Simultaneously, application to the concerned Regulator (RBI/SEBI/IRDA) for required license to operate as IFSC Unit in GIFT SEZ under the applicable regulations for banking/capital market /insurance.

• On approvals from DC, KASEZ and Regulator, GIFT SEZ to issue Final Letter of Allotment for allocation of space in GIFT SEZ for carrying out the approved operations.

• The approved Units shall have to execute lease deed/Leave and License with the Developer or Co –developer as the case may be for the allotted space.

2. Process note for setting up IT/ITeS & other Services Centre     in GIFT SEZ

• Submission of Interest Letter/Mail by the organization for taking up space at GIFT SEZ for setting up unit in GIFT SEZ as per the prescribed format.

• GIFT SEZ will give the Proposal to the applying organization for taking up space in GIFT SEZ.

• The organization to provide the confirmation/acceptance for the Proposal sent by GIFT SEZ.

• Post confirmation, GIFT SEZ to issue Provisional Letter of Allotment (PLOA) to the organization for providing office space for setting up Unit in GIFT SEZ.

• Organization to submit application (Form-F) to Development Commissioner, KASEZ for taking approval for setting up the Unit in GIFT SEZ along with the relevant documents including PLOA issued by GIFT SEZ.

• On approvals from DC, KASEZ, GIFT SEZ to issue Final Letter of Allotment for allocation of space in GIFT SEZ for carrying out the approved operations.

• The approved Units shall have to execute lease deed/Leave and License with the Developer or Co–developer as the case may be for the allotted space.