Author: CS Mufaddal Dalal
Published in Taxmann
Registration with the Financial Intelligence Unit – India (FIU-IND) is a key compliance requirement for entities regulated by the International Financial Services Centres Authority (IFSCA) operating in GIFT City. Regulated entities must register on the FIU-IND reporting portal before commencing business operations, with limited cases allowing registration within 30 days of starting activities.
After registration, entities must comply with reporting obligations under the Prevention of Money Laundering Act, including submission of Suspicious Transaction Reports and other regulatory filings. Entities must also update any changes in their business activities on the portal within the prescribed timeline.
These requirements strengthen AML compliance, improve transparency, and support GIFT City’s position as a globally trusted international financial centre.
