SEZ Compliance FAQ Booklet 2026: GIFT IFSC Compliance Guide
GIFT IFSC units operate within the Special Economic Zone (SEZ) framework and are required to comply with various requirements covering approvals, authorized operations, reporting, documentation, premises and ongoing regulatory obligations. The SEZ Compliance FAQ Booklet (v2.0), August 2026 provides detailed guidance on these requirements and the procedures applicable to IFSC units.
This executive guide provides an overview of the key SEZ compliance requirements that IFSC units should consider throughout their operational lifecycle.
Obtaining a Letter of Approval (LOA) is an important starting point for an IFSC unit, but SEZ compliance continues after approval. Units need to manage requirements relating to the Bond-cum-Legal Undertaking (BLUT), Eligibility Certificate, registered Lease Deed, authorized operations, changes to premises and amendments to approved services. The applicable procedures may involve the Administrator (IFSCA), SEZ Online and other prescribed processes.
The report also examines ongoing reporting requirements applicable to IFSC units, including the Monthly Performance Report (MPR), Service Exports Reporting Form (SERF) and Annual Performance Report (APR). It also covers commencement of operations, proof of commencement, LOA extension and renewal requirements, and the compliance considerations that arise when a unit changes its structure, activities or premises.
GIFT IFSC units also need to consider operational requirements such as Importer-Exporter Code (IEC), Registration-Cum-Membership Certificate (RCMC), employee SEZ ID cards and the permitted storage of documents outside the SEZ. The booklet further provides guidance on SEZ Online procedures, common portal issues and the relevant processes for submitting applications and compliance information.
The report covers the procedures applicable when an IFSC unit does not commence operations within the prescribed period, requires an LOA extension, seeks renewal after commencement or decides to exit from the SEZ framework. It also explains the documentation and procedural considerations associated with surrendering an LOA and obtaining SEZ exit approval.
Non-compliance with SEZ requirements can also result in regulatory action and penalties under the applicable framework. The report therefore provides a consolidated view of key compliance areas that units can use when reviewing their SEZ obligations and maintaining their compliance processes.
For businesses establishing or operating an IFSC unit, understanding these requirements can help them plan their SEZ obligations across the full lifecycle, from obtaining the LOA and commencing operations to ongoing reporting, renewal and eventual exit.
Download the full report for a detailed analysis of GIFT IFSC SEZ compliance requirements, including LOA procedures, BLUT, lease deed requirements, commencement of operations, MPR, SERF, APR, LOA extension and renewal, organizational changes, SEZ exit and penal provisions.
