The International Financial Services Centres Authority (IFSCA) on December 10, 2025 released a detailed FAQ document on December 10, 2025, to clarify the implementation of the IFSCA (TechFin and Ancillary Services) Regulations, 2025. These regulations govern registration, operations, compliance, and migration requirements for all entities seeking to provide TechFin services or Ancillary services from GIFT-IFSC. Eligible applicants include companies, LLPs, branches of foreign entities, and even registered partnership firms meeting prescribed professional criteria. The FAQs explain that entities currently operating under the erstwhile Ancillary Services Framework or FinTech Entity Framework may migrate and obtain a Certificate of Registration (CoR) under the new regime.
The FAQs outline timelines and regulatory expectations, including the requirement for applicants to comply with certification conditions within 180 days of receiving in-principle approval. Existing Ancillary Service Providers and authorised TechFin entities must obtain a CoR within 12 months of commencement of the Regulations, failing which their prior authorisations will lapse. The document also clarifies operational matters such as mandatory appointment of a Principal Officer (PO) and Compliance Officer (CO) based in IFSC, permissible legal forms, migration rules for Sandbox entities, fee payment procedures (in USD or INR), and reporting obligations in USD. Several earlier circulars will stand repealed after 24 months, though past authorisations and actions remain valid.
Further clarifications include treatment of pending applications, the due date for payment of registration/annual fees, and coverage of technology solutions supporting BATF services. Stakeholders may seek regulatory guidance through the IFSCA Informal Guidance Scheme or contact FSSRD for interpretation support. These FAQs are explanatory in nature and do not override the Regulations, Acts, or circulars, which remain the authoritative source of law.
