• SEZ stands for Special Economic Zone. In India, SEZs are specially designated areas created under the Special Economic Zones Act, 2005 to promote exports and offer businesses various tax benefits and incentives.

• The International Financial Services Centres Authority (IFSCA) is a government body set up by an Act of Parliament to develop and regulate financial services in India’s IFSCs.

• As per Section 18 of the SEZ Act, an International Financial Services Centre (IFSC) can only be established inside an SEZ. GIFT-IFSC in Gujarat is the first such IFSC in India.

• Because of this, any company or entity that gets approval or registration from IFSCA to operate in an IFSC automatically becomes an SEZ unit too. It must therefore follow both the IFSCA rules and the SEZ Act and Rules.

Since an IFSC is legally required to be set up within an SEZ, any company planning to operate as an IFSC unit must first get a Letter of Approval (LOA) under the SEZ Act. Only after getting this SEZ approval can the entity apply for and receive the necessary licenses and permissions from IFSCA.

Under the SEZ Act, every SEZ is managed by a Development Commissioner responsible for overall administration and supervision of that zone.

However, to make things simpler for businesses in IFSCs, the government has vested the powers of the Development Commissioner for IFSC units with a senior officer of IFSCA, called the ‘Administrator (IFSCA)’. This is done under Section 12(7) of the SEZ Act to provide a single, unified regulatory framework for IFSC units.

An IFSC unit, being an SEZ unit too, must follow several rules and procedures under the SEZ Act and Rules at different stages of its business operations. These compliances cover everything from starting the unit to its day-to-day operations and eventual exit or closure.

The compliance process broadly follows these stages:

Stages in the Life Cycle of an IFSC (SEZ) Unit:

1. Before Starting Operations (Pre-Setup Stage):

• Apply for a Letter of Approval (LOA) under the SEZ Act.

• Enter into a Lease Agreement for office space in the SEZ.

• Submit initial documentation and permissions to the SEZ authorities.
  

2. At the Time of Setting Up (Setup Stage):

• Execute a Bond-Cum-Legal Undertaking (BLUT).

• Get the necessary Import-Export Code (IEC), if required.

• Obtain IFSCA registration/license after SEZ LOA.
  

3. During Operations (Operational Stage):

• Submit periodic performance reports to SEZ/IFSCA.

• File annual returns and compliance reports.

• Follow the rules for customs duty exemptions, foreign currency transactions, and other SEZ benefits.

• Maintain proper records of import/export transactions.

• Comply with specific conditions mentioned in the LOA and SEZ Rules.
  

4. At the Time of Closure (Exit Stage):

• Apply for exit/exit permission to close operations.

• Settle all dues and clear any outstanding compliance issues.

• Surrender the SEZ approvals and registrations.
  

In short: An IFSC unit must follow SEZ-related compliances at every stage — before setup, during business operations, and at the time of closing the unit.

A Letter of Approval (LOA) is an official approval granted under the SEZ Act to every unit that wants to operate in a Special Economic Zone (SEZ).

The LOA specifies the exact set of authorized operations or activities that the unit is permitted to perform within the SEZ.

It’s important to note that a unit can only provide the services or carry out the activities listed in its Authorized Operations section of the LOA, and nothing beyond those activities is allowed under SEZ law.

The application for a Letter of Approval (LOA) under the SEZ Act must be submitted through the SWIT (Single Window Interface for IFSC Transactions) portal, which has been launched by IFSCA for this purpose.

The steps involved are as follows:

• Applicants seeking regulatory approvals from IFSCA must file a Common Application Form (CAF) through the SWIT portal.

• In this CAF, there’s a dedicated Section-D specifically for applying for the SEZ LOA.

• Once the Common Application Form (CAF) is completed and signed using a Digital Signature Certificate (DSC), the application for the SEZ LOA is automatically submitted to the SEZ Online portal from the SWIT portal.

• It’s important to note that while the application is submitted via the SWIT portal, all further processing of the LOA application happens entirely in the SEZ Online portal — not within the SWIT portal.
  

So, while the application is initiated via SWIT, the final approval process for the SEZ LOA is handled through the SEZ Online portal only.

No — in general. For all activities where the application filing option has been made available through the SWIT portal by IFSCA, the application for the SEZ LOA must be filed only through the SWIT portal.

This requirement has been officially communicated via a Public Notice issued by IFSCA, which can be accessed for reference.

However, there are a very limited number of activities requiring IFSCA approval which are not yet enabled in the SWIT portal.

In such cases, the application for the SEZ LOA must be submitted directly in the SEZ Online portal by filing Form-FA

The activities for which the LOA application has to be submitted directly in the SEZ Online portal are specified in the Public Notice issued by IFSCA regarding the SWIT portal. This Public Notice lists out the specific activities that are either enabled in the SWIT portal or still need to be applied for directly through the SEZ Online portal.

In addition to the activities mentioned in that Public Notice, it is also clarified that applications for SEZ LOA related to Funds are required to be filed directly in the SEZ Online portal.

Further, applicants who are filing their SEZ LOA applications directly in the SEZ Online portal must also ensure that they file the corresponding application for IFSCA Regulatory approval simultaneously.

Important:

The application for SEZ LOA will only be processed once the corresponding IFSCA Regulatory application has been filed.

This is a mandatory requirement to ensure proper coordination between the SEZ authority and IFSCA for approving any unit’s operations in the IFSC-SEZ area.

The list of documents required to be submitted along with the application for a Letter of Approval (LOA) is provided in Public Notice No. 02/2024-25 dated 05.11.2024, issued by the office of Administrator (IFSCA).

You can view this Public Notice https://ifsca.gov.in/Pages/Contents/SEZUnitApproval

The complete process for approving an LOA application is as follows:

(i) For activities where the application filing is enabled on the SWIT portal:

• The application submitted through the SWIT portal is automatically sent to:

  • The IFSCA Regulatory team for their regulatory approval.

  • The Administrator (IFSCA) through the SEZ Online portal for processing the LOA application.

(ii) For activities where application filing is not enabled on the SWIT portal:

• The LOA application must be filed directly on the SEZ Online portal.

• After receiving the application in the SEZ Online portal, the office of Administrator (IFSCA) seeks a confirmation from the IFSCA Regulatory team to verify that the corresponding regulatory application has been filed before moving forward.

(iii) Once the LOA applications are received in the SEZ Online portal (through either method mentioned above [(i) or (ii)]):

• The office of Administrator (IFSCA) examines the application.

• If there are any deficiencies or queries, they are raised within the SEZ Online portal itself.

• The applicant must then log in to the SEZ Online portal and submit necessary corrections or additional documents to resolve the deficiencies and complete the application.

(iv) Applications that are complete in all respects are then:

• Placed before the Unit Approval Committee (UAC) for their review and decision.

• The application is included in the Agenda for the UAC meeting.

• Once approved by the UAC, the decision is recorded in the Minutes of the Meeting.

• After the Minutes are finalized and approved, the LOA is issued to the applicant through the SEZ Online portal itself.

• The Unit Approval Committee (UAC) typically conducts its meeting once every week.

• These meetings are conducted in a hybrid mode — meaning:

  • Some participants attend in person.

  • Others can join via video conference (VC).
    

The date of each UAC meeting for the week, along with the deadline for submission of applications to be considered in that meeting, is communicated in advance through a Meeting Notice issued in the preceding week.

You can access these Meeting Notices -https://ifsca.gov.in/Pages/Contents/SEZUnitApproval

Once an LOA application is submitted and received in the SEZ Online portal, the office of Administrator (IFSCA) examines the application.

• If there are any deficiencies or queries in the application, these are raised within the SEZ Online portal itself.

• The applicant must regularly log in to the SEZ Online portal to check for any such observations and address them by making the necessary rectifications, so the application is marked as complete.
  

Once the application is complete:

• The Agenda for each Unit Approval Committee (UAC) meeting is published on the IFSCA website one or two days before the meeting. The UAC meeting Agenda can be accessed [here] (as per original context link).
  

Additionally:

• The office of Administrator (IFSCA) sends an email notification to applicants whose applications have been included in the Agenda.

• This email typically contains:

  • A copy of the Agenda.

  • The meeting link for joining via Video Conference (VC).
    

Important: Applicants included in the Agenda are expected to reply to this email, providing:

• The name(s) of their authorized representative(s) who will attend the UAC meeting.

• Along with Authorization Letters issued in favor of those representatives.

No, it’s not mandatory to attend in person.

• UAC meetings are conducted in a hybrid mode — meaning participants may choose to attend either:

  • In person at the venue, or

  • Through Video Conference (VC).
    

Unless specifically advised otherwise by the office of Administrator (IFSCA), applicants can attend by whichever mode is convenient to them.

The applicant’s representative attending the UAC meeting must meet the following requirements:

• Must be authorized through a valid Board Resolution or Authority Letter issued by:

  • The Board of Directors in case of a company, or

  • The Partners in case of a partnership or LLP.

• The representative must also submit:

  • A copy of this authorization letter, and

  • Valid identification documents (like Aadhaar, PAN, Passport, etc.)
    

These documents must be submitted to the office of Administrator (IFSCA) by email before the UAC meeting.

Additionally:

• The authorized representative is expected to be well-versed with the application proposal, and

• Should be fully prepared to explain and discuss both:

  • The short-term operational plans, and
    

The long-term strategic plans of the applicant company/unit during the UAC meeting.

If an applicant misses the deadline for submitting their LOA application for a particular Unit Approval Committee (UAC) meeting, their application — once it is complete — will be considered in the next UAC meeting.

No applications are accepted for inclusion after the deadline for a particular meeting. Complete applications are simply carried forward to the next scheduled UAC

Exceptions may be considered, but only in very rare cases where:

• The technical issue or malfunction is clearly caused by the SWIT portal or the SEZ Online portal itself (not due to any fault of the applicant).

• The applicant is able to demonstrate that their case requires urgent consideration and cannot wait until the next UAC meeting.
  

Important: Any delays caused by:

• The applicant’s own mistakes,

• Misunderstandings of the process, or

• Oversight on their part
  

will not be treated as technical errors or glitches and no exceptions will be allowed in such cases.

At the time of the Unit Approval Committee (UAC) meeting:

(i) The applicant is expected to:

• Give a brief presentation or explanation about their project proposal.

• Respond to any questions posed by the UAC members about their application, business plans, or operations.
  

(ii) At the end of the meeting:

• The UAC will inform the applicant whether their proposal has been approved or not approved.
  

Further: The decisions taken on each application during the meeting are recorded in the Minutes of the UAC meeting, which are normally published on the IFSCA website within a week.

Once an application is approved during the UAC meeting:

• The decision is formally recorded in the Minutes of the Meeting.

• After the Minutes are finalized and approved, the Letter of Approval (LOA) is issued to the applicant.
  

The LOA is issued directly through the SEZ Online portal itself.

Yes — while there may not be a formally notified deadline date, it is the responsibility of the applicant to:

• Promptly and properly respond to any deficiencies or queries raised in the SEZ Online portal.

• Rectify all deficiencies without unnecessary delay.
  

Important: An application will only be placed before the UAC for consideration once all deficiencies have been satisfactorily addressed and rectified in the SEZ Online portal.

Therefore, it is in the applicant’s own best interest to resolve any deficiencies swiftly to ensure their application is included in the Agenda for the upcoming UAC meeting.

Once the Common Application Form (CAF) is submitted and digitally signed using a Digital Signature Certificate (DSC) in the SWIT portal, the applicant will automatically receive the login credentials for the SEZ Online portal on the email address they provided in the SWIT portal.

If the applicant hasn’t received their SEZ Online portal login credentials:

• They should contact NSDL (National Securities Depository Limited) using the contact details available [here] (as per original context link), or

• Directly email Mr. Deepak Gupta at deepakg@ndml.in for assistance.

After the application is submitted via the SWIT portal or directly in the SEZ Online portal, any deficiency or query is typically raised within 1 to 2 working days in the SEZ Online portal.

The applicant must regularly log in to the SEZ Online portal, open their application request from the Inbox, and check the Remarks History link of the application to find out about any deficiencies or discrepancies raised.

No. The applicant must rectify all deficiencies directly in the SEZ Online portal.

Responses or corrections submitted by email or through the SWIT portal will not be considered.

To check if the Letter of Approval (LOA) has been issued:

• The applicant should log in to the SEZ Online portal.

• Open their application request from the Inbox.

• If the LOA has been issued, they can download the LOA directly from the portal.

As per Rule 22 of the SEZ Rules, a Bond-cum-Letter of Undertaking (BLUT) is a legal document that a SEZ unit is required to execute.

The purpose of the BLUT is to:

• Record the unit’s obligations.

• Confirm the unit’s compliance with the provisions of the SEZ Act and Rules.
  

Once executed, the BLUT must be jointly approved by:

• The Specified Officer of Customs, and

• The Administrator (IFSCA).

The BLUT must be prepared in the prescribed format called Form-H, which is specified in the SEZ Rules.

The format for Form-H is attached as Annexure-A in the relevant compliance document or notification.

As per Instruction No. 02 dated 24.03.2006 issued by the Ministry of Commerce, the BLUT must be executed as follows:

• \It should be prepared on a non-judicial stamp paper of ₹100.

• It must be notarized by a Notary Public registered in the state of Gujarat (since GIFT-IFSC is located in Gujarat)
  

The following documents and requirements must accompany the BLUT:

a) The name and SEZ address of the unit must be clearly mentioned in the BLUT without any spelling mistakes or errors.

b) A letter from the unit formally accepting the Letter of Approval (LOA).

c) A Bond Value Calculation Sheet showing how the bond value was determined.

d) A Board Resolution authorizing the designated person (Obligor) to execute and submit the BLUT on behalf of the unit.

e) The signatures of the Obligor and two witnesses, along with their names and addresses, must be affixed on the BLUT.

f) A recent passport-size photograph of the Obligor must be affixed on the BLUT document.

g) KYC documents (such as Aadhaar card and/or PAN card) of both:

• The Obligor (the person executing the BLUT), and

• The witnesses, must be attached to the BLUT.

As per Public Notice No. 02/2024-25 dated 05.11.2024 issued by the office of Administrator (IFSCA), the following important points must be kept in mind while executing the BLUT:

a) The BLUT must strictly follow the prescribed format in Form-H of the SEZ Rules, 2006, along with the instructions mentioned in Instruction No. 2 dated 24.03.2006 (F. No. 5/1/2006-EPZ) issued by the Department of Commerce.

b) A letter from the entity accepting the terms and conditions of the Letter of Approval (LOA) must be attached to the BLUT.

c) A proper Bond Value Calculation Sheet should be attached, showing the amount for which the BLUT is being executed. Care must be taken to ensure that the bond value is not less than the amount stated in the calculation sheet. The calculation sheet must be signed by the Obligor.

d) A Board Resolution authorizing the designated Obligor to sign and execute the BLUT on behalf of the SEZ unit under the SEZ Act and Rules must be attached.

e) The name, address, and passport-size photograph of the Obligor should be correctly filled and pasted on the BLUT. A valid identity proof of the Obligor should also be attached.

f) The name and address of the witnesses must be properly mentioned in the BLUT, and a valid identity proof for both witnesses should be attached.

The Bond Value Calculation Sheet is a document that details the total amount of Customs duties and GST that the SEZ unit expects to save over the next five (05) financial years.

The BLUT must be executed for an amount not less than the total amount projected in this calculation sheet.

Important Requirements:

• The calculation sheet should be prepared on the official letterhead of the applicant unit.

• It must be signed by the Obligor with the unit’s official seal and stamp.

The approval of a BLUT happens in two stages:

1️ First Stage: Approval of the physical BLUT document.

2️ Second Stage: Approval through the SEZ Online portal, by submitting a ‘New LUT’ request. .

The step-by-step process is as follows:

(i) The physically executed BLUT (prepared on ₹100 non-judicial stamp paper, notarized in Gujarat, with all necessary attachments) must be sent by post/courier to the office of Administrator (IFSCA) along with a covering letter addressed to the Administrator (IFSCA).

(ii) Upon receiving the BLUT:

• The office of Administrator (IFSCA) will verify its format, contents, and attached documents.

• If any discrepancies or mistakes are found, these will be communicated to the unit for correction.
  

(iii) After all corrections are made and complete documentation is received:

• The BLUT is forwarded to the Specified Officer of Customs for their approval.
  

(iv) Once the Specified Officer approves the BLUT, it is then finally approved by the Administrator (IFSCA).

Once the physical BLUT is approved by both the Specified Officer of Customs and the Administrator (IFSCA):

• A PDF copy of the approved BLUT, along with an Eligibility Certificate, is sent to the unit via email.
  

The original physical BLUT remains with the office of the Administrator (IFSCA) for official records.

After the physical BLUT has been approved, the unit must complete the following steps in the SEZ Online portal:

1️ File a ‘New LUT’ request in the SEZ Online portal. Attach the PDF copy of the approved BLUT as a supporting document.

2️ Carefully enter the details of:

• Bond amount

• Name of the Obligor

• And other relevant details as per the approved physical BLUT. Ensure there are no mistakes.
  

3️ Once the ‘New LUT’ request is submitted, it will be approved by both:

• The Specified Officer of Customs, and

• The Administrator (IFSCA) in the SEZ Online portal.
  

4️ After approval, the Bond amount and LUT validity dates will be automatically updated against the unit’s profile in the SEZ Online portal.

No. Units must first obtain approval of the BLUT in physical form as explained earlier. Only after receiving the approved physical BLUT, the unit should upload the PDF copy in the SEZ Online portal by submitting a ‘New LUT’ request.

If a unit wants to increase its Bond amount, it must:

1. Submit a fresh BLUT in physical form to the office of Administrator (IFSCA), following the same procedure as for the original BLUT.

2. Once approved by both the Specified Officer and Administrator (IFSCA), the PDF copy of the approved BLUT will be emailed to the unit. The original will be retained by the Administrator’s office.

3. The unit must then file an ‘Update LUT’ request in the SEZ Online portal, attaching the new PDF, and carefully updating the details as per the new approved BLUT.

4. Once the ‘Update LUT’ request is approved, the increased Bond amount and updated validity details will reflect in the SEZ Online portal.

The BLUT must be filed and approved in the SEZ Online portal for the following reason:

Without an approved BLUT in the SEZ Online portal, units cannot carry out transactions related to procurement of goods or services within the SEZ.

Important Reminder:

• It has been observed that some units delay submitting the ‘New LUT’ or ‘Update LUT’ requests for weeks or even months after receiving the approved physical BLUT.

• Such delays can cause procedural complications and disrupt business operations.

• Therefore, units should immediately upload the PDF copy of the approved BLUT in the SEZ Online portal as soon as it is received via email

Once the unit submits the ‘New LUT’ or ‘Update LUT’ request in the SEZ Online portal:

1. If there are any deficiencies, discrepancies, or queries, these will be raised within the SEZ Online portal itself.

2. The unit must:

• Log in to the SEZ Online portal

• Access the Inbox

• Open the specific ‘New LUT’ or ‘Update LUT’ request

• Check the Remarks History link within the request to see any remarks or pending queries.
  

3. Once the request is approved:

• The Bond amount and LUT validity dates will be automatically updated for the unit in the SEZ Online portal.
  

Important Tip: Units should proactively monitor the SEZ Online portal after submitting their requests to ensure timely response to any queries and avoid processing delays.

If a unit is unable to access the SEZ Online portal for any reason:

1. The unit should immediately contact NSDL/NDML to restore their access.

2. Contact details:

• Email: abhisheka@ndml.in aweinashj@ndml.in

• Or use the other official contact details available https://www.sezonline-ndml.com/contactus.htm
  

Once access is restored, the unit should log in and promptly submit the ‘New LUT’ or ‘Update LUT’ request through the portal as per the prescribed process.

An Eligibility Certificate (EC) is a document issued by the Administrator (IFSCA) under the Gujarat SEZ Act/Rules.

It is important because this certificate is necessary for SEZ units to:

• Claim certain State Government tax exemptions, such as stamp duty exemptions on property transactions or leases within the SEZ.
  

In short — without this EC, a unit cannot avail those specific state tax benefits available to SEZ units.

A unit does not need to make any separate application to get the Eligibility Certificate.

Here’s how it works:

• Once the unit’s BLUT is approved by both the Specified Officer of Customs and the Administrator (IFSCA),

• The PDF copy of the approved BLUT along with the Eligibility Certificate (EC) is automatically sent to the unit by email.
  

There’s no need for any additional form-filling or separate request to obtain the EC — it’s issued as part of the BLUT approval process.

As per Rule 18(2) of the SEZ Rules, every unit must submit a copy of their registered Lease Deed to the Administrator (IFSCA)within six months from the date of issue of their Letter of Approval (LOA).

If a unit doesn’t submit the Lease Deed within six months:

• As per Rule 18(2), the Unit Approval Committee (UAC) can withdraw the LOA after giving the unit an opportunity to explain.

• If unable to register within the deadline, the unit must immediately email a request to ifscaadmin@ifsca.gov.in, asking for the UAC’s permission to condone the delay and extend the deadline.

• The UAC will review this request in its meeting. The unit’s authorized representative must attend and explain the reasons for the delay.

• The UAC can either:

  • Grant an extension

  • Or, if not satisfied, withdraw the LOA, which effectively terminates the unit’s SEZ status.

The following documents are mandatory while executing the Lease Deed:

• Valid Letter of Approval (LOA): As per Rule 18(2), the Developer or Co-Developer can enter into a lease agreement only after LOA is issued.
  

Eligibility Certificate (EC):

Issued by the Administrator (IFSCA) after BLUT approval, required to avail state tax benefits like stamp duty exemption.

If the LOA has expired at the time of registering the Lease Deed:

• The unit must first apply for an LOA Extension through the SEZ Online portal.

• Registering a Lease Deed against an expired LOA is a violation of Rule 18(2) and may attract penalties.

Once the Lease Deed is registered:

• Email a scanned copy to ifscaadmin@ifsca.gov.in

• Simultaneously, submit a ‘Unit Lease Deed’ request in the SEZ Online portal.

• Ensure that:

  • The term/duration of the Lease Deed

  • And the correct SEZ address of the unit are properly mentioned in the online request.

If portal access is missing:

• Contact NSDL/NDML support using the details provided here

• Or email:

  • abhisheka@ndml.in

  • aweinashj@ndml.in to get the login credentials or resolve access issues.

No — a unit cannot shift to a new premises or add another premises to their approved address without prior approval from the Administrator (IFSCA).

As per Condition 13 of Form-H (BLUT format), a unit is prohibited from changing its premises without written permission from the Administrator (IFSCA).

Operating from a premises not included in the unit’s Letter of Approval (LOA) is a violation of the SEZ Act/Rules and can result in monetary penalties or even cancellation of the LOA.

The unit should:

1. Log in to the SEZ Online portal.

2. Submit a ‘Free Form – Change of Area (Addition)’ request.

3. Attach a copy of the Provisional Letter of Allotment (PLOA) issued by the Developer or Co-Developer for the new premises.

4. Clearly mention in the form that the request is for a change of premises.

The unit should:

1. Log in to the SEZ Online portal.

2. Submit a ‘Free Form – Change of Area (Addition)’ request.

3. Attach a copy of the Provisional Letter of Allotment (PLOA) from the Developer or Co-Developer for the additional premises.

4. Clearly mention in the form that the request is for an addition of premises to the existing address.

(i) After submitting the application in the SEZ Online portal, any deficiencies or queries will be raised within the portal itself. The unit must:

• Log in to the SEZ Online portal.

• Access the ‘Free Form – Change of Area (Addition)’ request from the Inbox.

• Check the ‘Remarks History’ section for any comments, deficiencies, or discrepancies raised by the office of the Administrator (IFSCA).
  

(ii) Once the request is approved:

• The address details get updated in the SEZ Online portal.

• A formal approval letter for change/addition of address is issued within the SEZ Online portal.

• The unit can download this letter from the portal using their SEZ Online ID.
  

(iii) After approval:

• A fresh Eligibility Certificate (EC), reflecting the new or additional premises, is sent to the unit separately by email.

Once the new address is approved, the unit must comply with the following:

a) Submit a copy of the registered Lease Deed for the new or additional premises, as required under Rule 18(2) of the SEZ Rules, 2006.

b) In case of a change of premises:

• If the unit already had a registered Lease Deed for the old premises, it must get that Lease Deed cancelled.

• A copy of the cancelled Lease Deed must be submitted to the office of Administrator (IFSCA).
  

c) The BLUT (Bond-cum-Letter of Undertaking) executed for the previous premises, along with its terms and conditions, shall continue to remain binding for the new or additional premises.

d) If the unit had not executed a BLUT earlier for the old premises:

• It must execute a fresh BLUT for the new premises.

• Submit the BLUT for approval to the office of Administrator (IFSCA) following the same standard process.

If a unit wishes to remove a premises from their list of approved addresses:

1. Log in to the SEZ Online portal.

2. Submit a ‘Free Form – Change of Area (Deletion)’ request.

3. In the request form, clearly mention the premises address that needs to be deleted.

4. Important:

   • A unit cannot apply to delete the only premises it holds, as this would render the LOA invalid under law.

   • At least one valid, approved premises must always remain linked to a unit’s LOA.

Once the application is submitted:

• Any deficiencies or queries raised by the office of Administrator (IFSCA) will be reflected in the SEZ Online portal itself.

• The unit should:

  • Log in to the SEZ Online portal.

  • Access the ‘Free Form – Change of Area (Deletion)’ request from the Inbox.

  • Check the ‘Remarks History’ section to see if any deficiencies, corrections, or queries have been raised.
    

Once the request is complete and approved in the portal:

• The address details will be updated in the SEZ Online portal.

• A formal letter of approval for deletion of address will be issued.

• The unit can download this approval letter from the portal under the same request ID.

Once approval for deletion of a premises is granted, the unit must:

a) If a registered Lease Deed existed for the deleted premises:

• Submit a copy of the cancelled Lease Deed for that premises to the office of Administrator (IFSCA) within 30 days of approval in the SEZ Online portal.
  

b) The unit must immediately vacate the deleted premises.

Under no circumstances should the unit continue to occupy or operate from the deleted premises beyond 30 days from the date of deletion approval.

The Importer-Exporter Code (IEC) is a unique 10-digit business identification number issued by the Directorate General of Foreign Trade (DGFT), Government of India.

It is mandatory for any business or entity involved in import or export activities to or from India.

No entity can legally engage in import or export transactions without obtaining a valid IEC.

A unit can apply for an IEC online through the official DGFT website.

Here’s the step-by-step:|

1. Visit the DGFT website: DGFT IEC Application Portal

2. Register your business on the portal if not already registered.

3. Fill in the required details in the IEC profile management section.

4. Upload necessary documents and submit the application.

5. Pay the prescribed fee.

6. Once approved, the DGFT will issue your IEC certificate digitally.

Yes. Even though the IFSC is located within a Special Economic Zone (SEZ), all units operating in GIFT-IFSC are required to obtain an IEC from DGFT if they intend to engage in any kind of import or export activities, including cross-border financial services, software export, or procurement of goods from outside India.

Once a unit obtains their IEC certificate from DGFT, they must:

1. Log in to the SEZ Online portal.

2. Submit a ‘Free Form – IEC Application’ request.

3. Attach a pdf copy of the IEC certificate issued by DGFT.

4. The office of Administrator (IFSCA) will review and approve the Free Form request.

5. Upon approval, the IEC details will be updated in the unit’s profile data within the SEZ Online portal.
   

Note: Keeping the IEC details updated in the SEZ Online portal is mandatory for seamless processing of import/export transactions for the unit.

If a unit needs to procure sand for interior construction work within GIFT IFSC, it must follow this process:

1. Log in to the SEZ Online portal.

2. Submit a ‘Free Form – Others’ request.

3. Attach a covering letter mentioning:

• The purpose: procurement of sand for interior construction.

• The quantity of sand required.

4. Once this ‘Free Form – Others’ request is approved in the SEZ Online portal:

• An official approval letter for sand procurement is issued in the portal.

5. The unit can then download this approval letter from the SEZ Online portal using the ID of the submitted request.

If a unit wants to start offering additional services not originally mentioned in its Letter of Approval (LOA)Broad bandingBroadbanding.

For example:

• If a unit has LOA for Aircraft Leasing and wants to add Ship Leasing.

• Or if a unit has LOA for FME (Non-Retail) and now wants to become FME (Retail).
  

Key Rule: Before obtaining IFSCA’s regulatory approval for these new services, the unit must first get its Authorized Operations in the LOA amended through SEZ procedures.

The unit should follow this process:

1. Log in to the SEZ Online portal.

2. Submit a ‘Free Form – Broadbanding/Capacity Enhancement’ request.

3. Attach proof of submission of the Regulatory Application to IFSCA for the new/additional services.

4. In the request’s ‘Item Details’ tab, mention:

   • The complete amended list of services you intend to provide, under the section called ‘Proposed for Renewed Period’.

5. Note: 📌 Applications via physical documents or email will NOT be accepted. Everything must be filed via the SEZ Online portal.

The approval process is as follows:

1. The office of Administrator (IFSCA) will review the application.

2. It is then placed before the Unit Approval Committee (UAC) during its meeting. Important: The applicant unit is not required to appear before the UAC for this matter.

3. Once the UAC approves:

   • The decision is recorded in the Minutes of the UAC meeting.

   • The ‘Free Form – Broadbanding/Capacity Enhancement’ request is then approved in the SEZ Online portal.

   • An amended LOA is generated in the SEZ Online portal.
     

The unit can then download the amended LOA from its SEZ Online portal account, against the ID of the submitted request.

Once the unit submits a ‘Free Form – Broadbanding/Capacity Enhancement’ request in the SEZ Online portal:

• If there are any deficiencies or queries, they will be raised within the SEZ Online portal itself.

• The unit must:

  • Log in to the SEZ Online portal

  • Go to the ‘Inbox’

  • Open the relevant Free Form – Broadbanding/Capacity Enhancement request

  • Check the ‘Remarks History’ link to view any comments or deficiencies raised.
    

Once all deficiencies are resolved and the request is approved:

• An amended LOA is automatically generated in the SEZ Online portal.

• The unit can download the amended LOA from its SEZ Online ID associated with the request.

No The application for Broadbanding of services must be submitted only through the SEZ Online portal.

Applications sent by physical means (hard copy) or email will not be accepted or processed.

If a unit doesn’t have access to the SEZ Online portal:

• It must retrieve access by contacting NSDL/NDML using the details available here

• Or email to: abhisheka@ndml.in aweinashj@ndml.in
  

The office of Administrator (IFSCA) accepts applications only via SEZ Online portal. Physical or email applications are not entertained.

As per Rule 19(4) of SEZ Rules, the Letter of Approval (LOA) issued to a unit remains valid for one year from its date of issuance.

📌 Within this one year, the unit must commence its business operations.

The unit must submit an ‘LOA Extension’ request on the SEZ Online portal only, along with these supporting documents (merged into a single PDF):

a) A Covering Letter:

• Explaining why the unit couldn’t commence business within the LOA validity.

• Describing the steps taken so far to start operations.
  

b) A copy of the IFSCA Regulatory Approval, which can be:

• Letter of Authorization

• Certificate of Registration/Recognition

• Or any other form of approval.
  

c) A copy of the Registered Lease Deed.

Important:

• The ‘LOA Extension’ request must be submitted on the SEZ Online portal at least one month before the expiry of the LOA.

• Applications sent via physical documents or email are not accepted.

If the unit has not registered its Lease Deed at the time of applying for the LOA Extension:

• In the cover letter submitted with the ‘LOA Extension’ request, the unit must clearly explain:

  • The reasons for not being able to register the Lease Deed.

  • A request for condonation of delay in executing and submitting the Lease Deed.
    

This request is placed before the Unit Approval Committee (UAC) as per Rule 18(2) of SEZ Rules. The LOA Extension request will be processed only after the UAC decides whether to condone the delay or not.

While it is strongly recommended that the unit should submit its LOA Extension request at least one month before the expiry, it is still possible to apply even after expiry.

In such cases:

• The unit must submit the LOA Extension request in the SEZ Online portal with all supporting documents.

• In the cover letter, the unit must:

  • Clearly explain the reasons for the delay in submitting the extension application.
    

Important: If the LOA expires and no steps are taken by the unit to extend it, the entity may be subjected to monetary penalties.