# How to Invest in GIFT City: A Beginner's Guide Author: Ankur Choudhary Author URL: https://getbelong.com/blog/author/ankur-choudhary/ Published: 2026-08-11 Category: NRI Investment Category URL: https://getbelong.com/blog/category/nri-investment-guide/ Meta Title: How to Invest in GIFT City: A Beginner's Guide Meta Description: A step-by-step GIFT City guide for NRIs. Eligibility, account opening, funding, products, tax, safety, repatriation and the mistakes beginners make. Tags: Gift City Guide Tag URLs: Gift City Guide (https://getbelong.com/blog/tag/gift-city-guide/) URL: https://getbelong.com/blog/invest-in-gift-city/ ![How to Invest in GIFT City](https://prod.superblogcdn.com/site_cuid_clx4a3rx6000caheo10zipfw1/images/how-to-invest-in-gift-city-1786449460191-compressed.jpg) Most NRIs do not go looking for GIFT City. They bump into it. A colleague in Dubai mentions a dollar deposit that is tax-free in India. A cousin in New Jersey forwards a screenshot. Someone in a WhatsApp group asks whether it is "actually legal". Then the reading starts. And somewhere between the acronyms, the forum threads and the section numbers, the decision quietly stalls. We see this pattern constantly at [Belong](https://getbelong.com/). The hesitation is rarely about risk appetite. It is about not knowing the order of steps. This guide fixes that. It walks through GIFT City the way you will actually encounter it, in sequence. Eligibility first, then the account, then money movement, then products, then tax, then getting your money out. Nothing here requires prior knowledge. If a term is new, we explain it where it appears. ## What GIFT City Actually Is GIFT City is Gujarat International Finance Tec-City, near Gandhinagar in Gujarat. Inside it sits India's International Financial Services Centre, usually shortened to IFSC. That IFSC is the part that matters to you as an investor. The IFSC is physically in India. For most financial and foreign exchange purposes, it is treated as offshore. That single sentence explains almost everything that follows. Your money sits in a jurisdiction governed by its own rulebook. It is not the same rulebook as your NRE or NRO account in Mumbai. Think of it as a financial free zone. Dubai has DIFC, and Singapore built its own version decades ago. India built this one. Want the full background on why the zone was created? Our explainer on [what problem GIFT City really solves for NRIs](https://getbelong.com/blog/what-problem-does-gift-city-really-solve-for-nris/) covers the origin story. 👉 **Tip:** When you read "IFSC" in this context, it means the financial centre. It does not mean the eleven-character bank branch code on your cheque book. ## What GIFT City Is Not Three assumptions cause most of the confusion we see. It is not a tax haven. GIFT City is an Indian jurisdiction with Indian law behind it. Exemptions are written into Indian statute, not hidden from it. It is not a way to avoid declaring income. Your home country's reporting rules still apply to you. An Indian exemption does not erase a US or UK filing duty. It is not only for the very wealthy. Deposits and funds have modest entry points. AIFs carry high minimums, but they are one product among several. There is a fourth, quieter assumption. Many NRIs believe GIFT City replaces their existing Indian accounts. It does not. Most investors we work with run both. NRE and NRO accounts handle rupee needs, while GIFT City holds dollars. ## Why NRIs End Up Here Every NRI investing in India runs into the same four frictions. Currency conversion. You earn dirhams or dollars, convert to rupees, and lose a slice on the spread each time. Tax complexity. Interest and gains get taxed, TDS gets deducted, and refunds take patience. Repatriation. Moving money back out involves paperwork, limits and bank discretion. Documentation. Every product asks for a fresh set of proofs, often couriered across time zones. GIFT City was designed to reduce all four at once. You hold foreign currency and deal with a non-resident rulebook. Your money becomes rupees only if you choose. That is the honest pitch. Not higher returns. Lower friction and cleaner tax treatment on the Indian side. There is a second reason, and it is the one that keeps returning in our conversations. Rupee [depreciation](https://getbelong.com/blog/depreciation-meaning/) has quietly eaten into NRE deposit outcomes for years. If you earn in dollars and your Indian savings sit in rupees, you carry currency risk you never chose. Holding dollars inside GIFT City removes that mismatch. A pattern we see often makes this concrete. An engineer in Abu Dhabi sends money home every quarter for a decade. The balance in his NRE account grows steadily in rupee terms. Measured back in dirhams, the growth looks far less impressive. Nothing went wrong. The deposit paid exactly what it promised. The currency simply moved underneath it. That gap between nominal growth and purchasing power is what pushes many NRIs toward dollar options. ## Who Regulates GIFT City This is the first question a cautious investor should ask. It is also the one most articles skip. The regulator is the International Financial Services Centres Authority, or IFSCA. It is the unified authority for financial products, services and institutions inside the IFSC. Before IFSCA existed, that work was split across RBI, SEBI, PFRDA and IRDAI. One authority now does the job of four. So when you invest in GIFT City, RBI is not your day-to-day regulator. IFSCA is. This matters practically. Rules, complaint routes and registrations all sit with IFSCA. You can check the authority and its registered entities at the [IFSCA official website](https://www.ifsca.gov.in/). Our deeper piece on [who regulates GIFT City investments](https://getbelong.com/blog/who-regulates-gift-city-investments/) walks through the complaint escalation path if something goes wrong. 👉 **Tip:** Before sending money anywhere, confirm the entity's IFSCA registration on the regulator's own directory. Not on the platform's website. ## Who Can Invest Eligibility is simpler than most beginners assume. It splits three ways. **NRIs.** Non-resident Indians can open accounts and invest across GIFT City products. This is the primary audience the zone was built for. **OCI cardholders.** Overseas Citizen of India holders are generally treated alongside NRIs for these purposes. Individual banks may apply their own onboarding conditions. **Resident Indians.** Residents can participate, but through a different door. That door is the Liberalised Remittance Scheme, and we cover it separately later in this guide. **Joint holders.** Many institutions allow joint accounts, subject to their own conditions. Rules differ by bank, so confirm before assuming a spouse can be added later. **Minors.** Some products permit investment on behalf of a minor. Documentation is heavier, and not every platform supports it. Your residential status under Indian tax law decides which door you use. It also decides your tax outcome. If you are unsure where you stand, settle that before anything else. Status is the foundation every other decision rests on. 👉 **Tip:** Residential status is a day-count test, not a passport test. Check the current thresholds on the [Income Tax portal](https://www.incometax.gov.in/iec/foportal/) before assuming. ## Step 1: Open a GIFT City Account Your existing NRE or NRO account will not work here. That surprises people. GIFT City banking happens through an IFSC Banking Unit, shortened to IBU. An IBU is a separate unit of a bank, licensed to operate inside the IFSC. Many familiar Indian banks run IBUs there. The parent bank is the same name you already know. The unit and its rulebook are different. So you open a fresh account with that unit. It is a foreign currency account, not a rupee account. ### What the process looks like Onboarding is largely digital, though the exact flow varies by bank and platform. - Choose the bank or platform and confirm its IFSCA registration - Complete the application and KYC verification - Submit identity, address and non-resident status proofs - Get the account activated and receive funding instructions - Transfer your first tranche of foreign currency Our step-by-step walkthrough on [how to open an account in GIFT City](https://getbelong.com/blog/how-to-open-account-gift-city/) covers the sequence in more operational detail. ### The documents you will be asked for Most rejections we see are documentation problems, not eligibility problems. Expect to provide your passport, visa or residence permit, overseas address proof and PAN. Some units also ask for proof of your overseas employment or income source. Our guide to the [documents needed to open a GIFT City bank account](https://getbelong.com/blog/documents-needed-to-open-a-gift-city-bank-account/) lists the substitutions banks accept. 👉 **Tip:** Get your overseas address proof and residence permit scanned clearly before you start. Blurred scans cause more delays than missing documents. ## Step 2: Get Money Into the Account Once the account exists, funding is straightforward. There are two routes for NRIs. **Route one, directly from abroad:** You remit foreign currency from your overseas bank account into your GIFT City account. Dollars stay dollars. No conversion, no rupee leg. **Route two, from an existing NRE account:** If money is already parked in India, it can be moved across. Our guide on [transferring money from an NRE account to GIFT City](https://getbelong.com/blog/how-to-transfer-money-from-nre-account-to-gift-city/) explains the mechanics and the conversion involved. Route one is cleaner for most people. Route two makes sense if you already hold idle NRE balances. A word on timing. Currency conversion costs are real and they compound across repeated transfers. Sending one larger tranche usually beats sending six small ones. Fewer conversions, fewer fixed charges, less spread leakage. 👉 **Tip:** Ask your overseas bank for the all-in cost of the transfer, including intermediary charges. The advertised rate is rarely the full picture. ## Step 3: Choose Your Products This is where beginners get overwhelmed. The menu looks larger than it is. In practice, most NRIs start with one product and expand slowly. Here is the landscape, ordered from simplest to most complex. ### Foreign currency fixed deposits The most common entry point, and for good reason. You hold a term deposit in dollars or another permitted currency with an IBU. Interest accrues in that currency. Your principal never touches the rupee. For non-residents, interest on deposits with an offshore banking unit has been exempt from Indian income tax. Under the Income-tax Act, 1961 this sat in Section 10(15)(iv)(fa). That exemption is the headline attraction. There is no Indian TDS to chase and no refund to claim. Rates move constantly and differ by bank and tenure. We do not publish fixed figures for that reason. Compare live options using our [NRI FD rates tool](https://getbelong.com/tools/nri-fd-rates/), and verify the final rate with the bank before booking. Weighing this against what you already hold? Read our comparison of [GIFT City FD versus NRE FD versus FCNR FD](https://getbelong.com/blog/gift-city-fd-vs-nre-fd-vs-fcnr-fd/). Here is how the three sit against each other on the dimensions that actually decide the choice. Dimension GIFT City FD NRE FD FCNR FD Currency held Foreign currency Indian rupees Foreign currency Regulator IFSCA RBI RBI Indian tax on interest Exempt for non-residents Exempt for non-residents Exempt for non-residents Rupee depreciation risk Not carried Carried in full Not carried Deposit insurance cover Not available Available up to a limit Available up to a limit Repatriation Freely repatriable Freely repatriable Freely repatriable Read that insurance row carefully. We return to it shortly. ### Mutual funds GIFT City mutual funds are foreign currency funds run by fund managers registered with IFSCA. Some invest into India. Some invest globally. That distinction decides what risk you are actually taking. Familiar Indian fund houses operate here. Examples include: - [DSP Global Equity Fund](https://getbelong.com/tools/gift-city-mutual-funds/dsp-global-equity-fund/), a global equity option - [Tata India Dynamic Equity Fund](https://getbelong.com/tools/gift-city-mutual-funds/tata-india-dynamic-equity-fund/), India-focused - [Edelweiss Greater China Equity Fund](https://getbelong.com/tools/gift-city-mutual-funds/edelweiss-greater-china-equity-fund/), regional exposure - [Sundaram India Mid Cap Fund](https://getbelong.com/tools/gift-city-mutual-funds/sundaram-india-mid-cap-fund-gift/), Indian mid caps Browse the full list through our [GIFT City mutual funds tool](https://getbelong.com/tools/gift-city-mutual-funds/). These funds are not identical to their mainland cousins. Costs, structures and tax treatment differ. Our comparison of [GIFT City mutual funds and Indian mutual funds](https://getbelong.com/blog/gift-city-mutual-funds-vs-indian-mutual-funds/) sets out where the two diverge. 👉 **Tip:** Read the fund's own tax note before investing. Fund structure decides whether tax is paid at fund level or investor level. ### Alternative Investment Funds AIFs are pooled vehicles for larger, longer commitments. They are not beginner products. Minimum commitment sizes are set under IFSCA rules and have been revised over time. Check the current threshold before assuming you qualify. Lock-ins are longer and [liquidity](https://getbelong.com/blog/liquidity-meaning/) is lower than in mutual funds. That trade is deliberate, not accidental. Explore what is available through our [GIFT City AIF tool](https://getbelong.com/tools/gift-city-alternative-investment-funds/), and read our primer on [GIFT City AIFs](https://getbelong.com/blog/gift-city-aifs/) first. ### IPOs and listed securities GIFT City has two exchanges operating under IFSCA oversight. Companies can list there and raise foreign currency. The first listings have already happened. Our guide to the [GIFT City IPO](https://getbelong.com/blog/ipo/gift-city-ipo/) explains how the process differs from a mainland Indian issue. If IPO participation interests you, our [IPO products page](https://getbelong.com/products/ipo/) shows what is currently accessible. ### Bonds and listed debt GIFT City also hosts listed bonds, including green and sustainability-linked issues. These are usually accessed through a broker or platform rather than directly. Minimum lot sizes can be large. Secondary market depth is still developing, so exits may take time. For a beginner, this sits behind deposits and funds in priority. It becomes relevant once you hold a dollar base and want yield diversification. ### Market signals Even if you never trade, one indicator is worth knowing. GIFT Nifty is a Nifty-linked futures contract that trades across extended hours from GIFT City. It gives an early read on how Indian markets may open. Track it live through our [GIFT Nifty tool](https://getbelong.com/tools/gift-nifty/). Treat it as information, not instruction. ### Matching product to starting point Most beginners ask the same question in different words. What should I actually start with? If this describes you Sensible first step Why First GIFT City investment ever Foreign currency FD Simple, predictable, easy to exit Want dollar exposure with growth Global mutual fund Diversifies away from India Want India exposure in dollars India-focused fund India growth, no rupee conversion Large corpus, long horizon AIF, after advice Higher minimums, longer lock-in Returning to India within two years Short-tenure FD only Status change is close This is a starting frame, not a recommendation. Your allocation should follow your goals and timeline. ## The Tax Picture for NRIs Tax is why most people come to GIFT City. It is also where the most dangerous half-truths live. Let us separate the two questions that get merged. ### What India exempts For non-residents, several categories of GIFT City income have carried Indian tax exemption. Interest on deposits with an offshore banking unit has been exempt for non-residents and RNOR taxpayers. Income of a non-resident from transferring units of an IFSC investment fund has also carried exemption. Under the Income-tax Act, 1961 these sat in provisions such as Section 10(15) and Section 10(4D). Income from certain derivative transactions with an IFSC banking unit sat in Section 10(4E). Here is the nuance almost no blog has caught up with yet. The Income-tax Act, 1961 has been replaced by the Income-tax Act, 2025, effective from 1 April 2026. Rates, deductions and exemptions were broadly carried over. The section numbering was reorganised. So the substance holds, but the old section numbers no longer map cleanly. Older articles quoting them are not wrong about the treatment. They are stale about the reference. Verify the current provision and its wording on the [Income Tax portal](https://www.incometax.gov.in/iec/foportal/) before relying on any number you read online. 👉 **Tip:** If an adviser quotes a section number with total confidence, ask which Act they mean. The answer tells you a lot. ### What India does not control This is the part that catches people out, and it costs real money. An Indian exemption is not a global exemption. India choosing not to tax your GIFT City income does not stop your country of residence from taxing it. If you live in the US, your worldwide income is generally reportable there. The UK, Canada and Australia apply their own rules. UAE-based NRIs are in a different position, which is one reason GIFT City has been popular in the Gulf. So the correct question is never "is this tax-free". It is "tax-free where, and what does my home country do". Our guide on whether [GIFT City investments need to be reported in your ITR](https://getbelong.com/blog/do-gift-city-investments-need-to-be-reported-in-itr/) covers the Indian reporting side. ### The exemption is tied to your status This is the single most expensive thing beginners miss. These exemptions are built for non-residents. They are not a permanent feature of the product. The day your residential status changes, the tax treatment of what you hold can change too. Nobody sends you a warning letter. We cover this failure mode in detail in our piece on [ignoring NRI, RNOR and resident status in GIFT City](https://getbelong.com/blog/gift-city-mistake-ignoring-nri-rnor-and-resident-status/). **What happens if this is ignored:** an investor books a long deposit and moves back mid-tenure. The interest then falls into a different treatment. The product did not change. The investor did. ## How Safe Is Your Money Safety here has two separate layers. Most people collapse them into one and get confused. **Layer one: the institution.** The IBUs operating in GIFT City belong to established Indian banks. Your exposure is to the parent bank's balance sheet and creditworthiness. **Layer two: deposit insurance.** This is where GIFT City differs sharply from mainland banking. Deposits with GIFT City IBUs are not covered by India's Deposit Insurance and Credit Guarantee Corporation. DICGC cover applies to banks under RBI's domestic supervision. IBUs operate under IFSCA instead. That is not a scandal. It is the same model used in other international financial centres. But you should know it before, not after. You can read how DICGC cover works, and where it applies, in the [DICGC frequently asked questions](https://rbi.org.in/Scripts/FAQDisplay.aspx?dId=47964) hosted by RBI. Our detailed explainer on [GIFT City deposit insurance](https://getbelong.com/blog/gift-city-deposits-insurance/) sets out what protection actually exists in its place. **Layer three: the age of the system.** This one rarely gets mentioned. The IFSC opened for business in the middle of the last decade. IFSCA itself was established in 2020. By the standards of Singapore or Dubai, this is a young ecosystem. Young systems revise their rules more often. Product eligibility, minimums and permitted investments have all changed since launch. That is not a reason to stay away, but it is a reason to stay current. 👉 **Tip:** If insurance cover matters emotionally to you, split. Keep a portion in insured mainland deposits and allocate the rest to GIFT City. That split is not a compromise. It is a reasonable answer to two different needs. ## What It Costs Returns get advertised. Costs get discovered. Across GIFT City products, the usual cost heads are these: - Account maintenance charges and minimum balance rules - Remittance and intermediary bank fees - Currency conversion spreads - Fund expense ratios - Exit loads and early withdrawal penalties None of these are unusual. What is unusual is how rarely beginners add them up before committing. A deposit that looks better on headline rate can end up behind after two conversions and a maintenance charge. This is where [real return](https://getbelong.com/blog/real-return-meaning/) thinking earns its keep. Our breakdown of [GIFT City hidden fees](https://getbelong.com/blog/gift-city-hidden-fees/) lists the charges that most often surprise first-time investors. Ask for the full schedule of charges in writing before you fund the account. Any legitimate institution will provide it. ## Getting Your Money Out Repatriation is the question every cautious NRI asks last and should ask first. The good news is structural. Because the IFSC is treated as offshore for foreign exchange purposes, your money is already outside the rupee system. You are not converting currency or seeking approval to send dollars abroad. You are moving dollars from one foreign currency account to another. That said, banks still run their own process. Expect instruction forms, verification and a processing window. Our guide on [repatriation from a GIFT City bank account](https://getbelong.com/blog/repatriation-from-gift-city-bank-account/) explains what to expect operationally. One practical caution is worth holding on to. Repatriation is smooth, but it is not instant. Redemption from a fund settles on its own cycle. A deposit broken before maturity may carry a penalty. Build that timing into any plan with a fixed date attached. 👉 **Tip:** Ask about the exit path before you enter. How long redemption takes, and what documents are needed, should be known on day one. ## If You Are Planning to Return to India This deserves its own section, because the timing decisions are irreversible. The GIFT City advantages we have described are attached to non-resident status. A return to India begins a transition. Many returning NRIs pass through RNOR status first. RNOR stands for Resident but Not Ordinarily Resident, a transitional category with its own treatment. That window is genuinely useful for restructuring. It is also finite. Three questions are worth answering before you board the flight home. 1. Which holdings should be redeemed while still a non-resident? 2. Which can continue without a change in treatment? 3. What does the timing do to your reporting obligations, in India and abroad? **Decision clarity:** If your return is within a year, avoid long lock-ins and AIF commitments entirely. If your horizon is five years or more, the full product range is reasonable. If you are undecided, favour shorter tenures and keep flexibility. The [opportunity cost](https://getbelong.com/blog/opportunity-cost-meaning/) of a slightly shorter tenure is small. The cost of being locked in through a status change is not. ## For Resident Indians: A Different Door Everything above assumed you live abroad. If you live in India, the picture changes meaningfully. You are not using GIFT City to invest into India. You are using it to invest out of India. That is the cleanest way to hold the distinction. For an NRI, GIFT City is an efficient route into Indian assets. For a resident Indian, it is a route to global and dollar-denominated assets. ### How residents participate Residents access GIFT City through the Liberalised Remittance Scheme, or LRS. LRS is the RBI framework that lets resident individuals remit money abroad within an annual limit. In February 2021, RBI first allowed Indian residents to remit funds under LRS to IFSCs set up in India. On 10 July 2024, RBI extended this to all purposes permitted under LRS. That 2024 change was the moment GIFT City became genuinely practical for residents. Before it, the permitted uses were narrow. The annual LRS limit, permitted purposes and repatriation timelines are all set by RBI. Check the current position in the [RBI FAQs on the Liberalised Remittance Scheme](https://rbi.org.in/Scripts/FAQDisplay.aspx?Id=115). Our guide on whether [resident Indians can open a GIFT City foreign currency account under LRS](https://getbelong.com/blog/can-resident-indians-open-a-gift-city-foreign-currency-account-under-lrs/) covers the account mechanics. ### Why residents should care Most Indian investors we meet hold one country's assets, one currency, and one economic cycle. That concentration feels safe because it is familiar. It is not the same thing as diversified. Adding dollar exposure does two things. It reduces single-country dependence, and it hedges the rupee's long-term direction against the currency your future costs may sit in. If your child may study abroad, your liability is already in dollars. Your savings probably are not. 👉 **Tip:** For residents, tax treatment differs from the NRI position described earlier. Do not carry over an NRI article's tax conclusions to a resident's return. Explore what is available through our [mutual funds products page](https://getbelong.com/products/mutual-funds/) before deciding how much to allocate. ## The Mistakes Beginners Actually Make After enough conversations, the same errors repeat. These are the ones that cost the most. Mistake What it looks like What to do instead Chasing the top rate Picking the highest advertised deposit rate Compare after fees, tenure and bank quality Assuming global tax exemption Reading "tax-free" as tax-free everywhere Confirm your home country treatment Ignoring status change Locking in past a planned return date Match tenure to your residency timeline Skipping registration checks Trusting a platform's own claims Verify on the IFSCA directory Starting with complexity Beginning with an AIF commitment Start with a deposit and learn the system Many small transfers Remitting in frequent small tranches Consolidate to reduce conversion costs There is a seventh, and it is the most common of all. Doing nothing. We watch investors research GIFT City for eighteen months, conclude it makes sense, and still not act. Meanwhile the rupee keeps moving and idle balances keep earning very little. Delay feels safe because it involves no decision. It is a decision, and it has a cost. There is a milder version of the same error. Investors open the account, fund it, then leave the balance idle for months. Idle foreign currency earns very little. The account is a container, not an investment. Deciding what goes inside it is the actual step. 👉 **Tip:** Start smaller than you think you should. A modest first deposit teaches you more than another month of reading. ## A Sensible First Year If you want a concrete sequence, here is the one we most often suggest. **Months one to two:** Confirm your residential status. Shortlist a bank or platform and verify its IFSCA registration. Open the account and complete KYC. **Months two to three:** Fund the account with a first tranche. Book a short-tenure foreign currency deposit. Watch how the process actually works end to end. **Months four to six:** Review the experience. Check the charges that appeared. Decide whether to extend the deposit or add a fund. **Months six to twelve:** If comfortable, add a mutual fund allocation. Keep deposits as the stable base. Revisit your tenure choices against your return-to-India plans. That pace looks slow. It is deliberately slow, because the first year is about learning the system, not maximising returns. [Compounding](https://getbelong.com/blog/compounding-meaning/) rewards consistency far more than it rewards a perfect start. ## Frequently Asked Questions ### Is investing in GIFT City legal for NRIs? Yes. GIFT City is India's International Financial Services Centre, established under Indian law. It is regulated by IFSCA, a statutory authority. Products offered there by registered entities are legitimate investments for eligible non-residents. Verify any specific platform's registration on the IFSCA directory before investing. ### Do I need a PAN card to invest in GIFT City? In most cases, yes. Banks and platforms generally require PAN as part of onboarding and reporting. Requirements can vary by institution and product type. Confirm the exact list with your chosen provider before applying. ### Are GIFT City deposits covered by deposit insurance? No. Deposits with IFSC Banking Units are not covered by India's DICGC scheme. DICGC cover applies to banks under RBI's domestic supervision. IBUs operate under IFSCA. Your protection comes from the parent bank's balance sheet and IFSCA's prudential requirements. ### What happens to my GIFT City investments if I move back to India? Your investments do not disappear. Their tax treatment can change with your residential status. Many of the exemptions available in GIFT City are designed for non-residents. A return to India begins a transition, often via RNOR status. Plan tenures and redemptions around your expected return date, not after it. ### Can resident Indians invest in GIFT City? Yes, through the Liberalised Remittance Scheme within RBI's annual limit. Residents typically use GIFT City for global and dollar-denominated exposure rather than Indian assets. Tax treatment differs from the non-resident position. Check current LRS rules on the RBI website before remitting. ## Where to Go From Here GIFT City is not complicated once you see it in order. Status, account, funding, product, tax, exit. For most NRIs reading this, the honest next step is small. Confirm your status, open the account, and start with a deposit you understand completely. Compare current options through our [NRI FD rates tool](https://getbelong.com/tools/nri-fd-rates/). Explore fund choices through our [GIFT City mutual funds tool](https://getbelong.com/tools/gift-city-mutual-funds/). If you are a resident Indian, the question is different but equally simple. How much of your portfolio should sit outside one country and one currency? Either way, the first move matters more than the perfect move. ### Primary sources **1\. International Financial Services Centres Authority (IFSCA)** [https://www.ifsca.gov.in/](https://www.ifsca.gov.in/) Used for: IFSCA as the unified regulator combining RBI, SEBI, IRDAI and PFRDA powers inside the IFSC; the registered-entity directory readers are told to verify against. **2\. RBI - FAQs on the Liberalised Remittance Scheme** [https://rbi.org.in/Scripts/FAQDisplay.aspx?Id=115](https://rbi.org.in/Scripts/FAQDisplay.aspx?Id=115) Used for: the resident-Indian (LRS) route into GIFT City - annual limit, permitted purposes, repatriation timelines. Fetched live, so the content is current as of today. **3\. RBI - FAQs on Deposit Insurance and Credit Guarantee Corporation (DICGC)** [https://rbi.org.in/Scripts/FAQDisplay.aspx?dId=47964](https://rbi.org.in/Scripts/FAQDisplay.aspx?dId=47964) Used for: the safety section - where DICGC cover applies, and therefore why IFSC Banking Unit deposits fall outside it. **4\. Income Tax Department e-filing portal** [https://www.incometax.gov.in/iec/foportal/](https://www.incometax.gov.in/iec/foportal/) Used for: residential status thresholds and current tax provisions under the Income-tax Act, 2025. * * * _The stories here are illustrative composites drawn from common patterns, not specific individuals._ _Disclaimer: This article is for educational purposes and does not constitute investment, tax or legal advice. Regulations referenced were current at the time of writing and change frequently. Verify all rules with IFSCA, RBI and the Income Tax Department, and consult a qualified adviser before investing._ --- This blog is powered by Superblog. 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