Quick Summary
The Central Government has notified the Special Economic Zones Rules, 2026, introducing a key procedural change for units being set up in International Financial Services Centres (IFSCs). The amendment empowers the Administrator of the International Financial Services Centres Authority (IFSCA) to issue a dedicated Letter of Approval in a newly prescribed Form GA. The notification was issued by the Ministry of Commerce and Industry under Section 55 of the Special Economic Zones Act, 2005 and pub
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FAQ :
The amendment empowers the Administrator of the IFSCA to issue a Letter of Approval in a new format, Form GA, specifically for units being set up in International Financial Services Centres (IFSCs).
The new Form GA specifically applies to units being established in the Gujarat International Finance Tec-City (GIFT City) IFSC.
The Letter of Approval (LoA) in Form GA is initially valid for one year from the date of issue, during which units must commence services.
Units must undertake the export of financial services for a period of five years from the commencement of authorised operations.
Key conditions include a one-year initial validity for the LoA, five years of export obligation for financial services, compliance with SEZ Act and Rules, obtaining necessary regulatory approvals, and adhering to pollution control and statutory requirements.
The new rules came into force from the date of their publication in the Official Gazette, which was 3rd February 2026.
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