IFSCA Amends ‘Global/Regional Corporate Treasury Centres’ Framework

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  • Last Updated on 11 June, 2025

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Global Corporate Treasury Centre IFSC

Circular No. F. No. IFSCA/24/2024-Banking-FC/02; Dated: 09.06.2025

The International Financial Services Centres Authority (IFSCA) has notified an amendment to the ‘Framework for Finance Company/Finance Unit Undertaking the Activity of Global/Regional Corporate Treasury Centres (GRCTC)’, providing greater flexibility to new entrants setting up operations in the IFSC.

1. Relaxation Added Under Clause 3(2)(ii)

A proviso has been inserted under Clause 3(2)(ii) of the framework, which originally required GRCTC applicants to employ a minimum of five qualified personnel based in IFSC to carry out permissible activities.

2. Chairperson Empowered to Grant Conditional Relief

As per the amendment, the Chairperson of the Authority is now empowered, on request from the applicant, to grant a relaxation from the five-personnel requirement, provided that:

  • The applicant submits a valid justification based on its proposed business volume, and
  • The relaxation is granted for a period not exceeding one year from the date of commencement of operations

3. Objective of the Amendment

This amendment aims to:

  • Facilitate ease of doing business for new GRCTC applicants
  • Encourage gradual onboarding of talent based on business scaling
  • Maintain regulatory oversight while supporting operational flexibility
Click Here To Read The Full Circular

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied