Portfolio Manager Registration with IFSCA

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    Portfolio Manager Registration & Compliances

    A portfolio manager (PM) is a legally authorized entity that, under a contractual agreement with a client, provides investment guidance, direction, or management of the client's securities, assets, or funds (either as a discretionary portfolio manager or otherwise). These services are collectively known as portfolio management services (PMS).

    To promote and regulate PMS in the International Financial Services Centre (IFSC), the Indian government has established various guidelines that outline eligible investors, permissible investments etc. In April 2015, India established its first International Financial Service Centre (IFSC) at GIFT City in Gujarat.

    Consult us for Portfolio Manager registration or compliance guidance.


    Procedure For Registering An Portfolio Management Services


    Portfolio Management Services Framework in IFSC

    Regulatory Framework for Portfolio Management Services (PMS) in an International Financial Service Centre (IFSC)


    All IFSC Portfolio Managers (IFSC PMs) must adhere to the PMS regulations outlined in the SEBI (IFSC) Guidelines, 2015.


    PMS in the IFSC can be operated by SEBI-registered intermediaries or international associates, subject to prior approval from SEBI. If established as a subsidiary, the subsidiary must meet the specified net worth requirements. In cases where the subsidiary does not meet these standards, the parent company's net worth will be considered.

    Net Worth Requirements

    A minimum net worth of USD 750,000 is mandatory for IFSC PMs. If operating as a branch, the parent company must fulfill the required net worth criteria.

    Certification Requirements

    Non-resident principal officers and decision-making employees must obtain certification from organizations recognized by the financial markets. For the Indian securities market, NISM (National Institute of Securities Markets) certification is essential.

    Regulators in Foreign Jurisdictions

    Principal officers and decision-making personnel based outside India must possess certification from an organization, institution, association, or stock exchange recognized or authorized by a financial market regulator in that foreign jurisdiction.

    Manpower Requirements

    Dedicated manpower specifically for providing portfolio management services must be allocated by an IFSC PM from an IFSC branch.

    Ring-Fencing Requirements

    The parent corporation must legally, financially, operationally, and technologically separate its domestic operations from its IFSC branch operations. Additionally, the parent company bears the responsibility of ensuring the compliance of the branch - PM entity in the IFSC with applicable laws.

    Qualification Requirements for Personnel Based Outside India

    Principal officers and decision-making personnel based outside India must hold certification from a recognized financial market regulator or authorized organization, institution, association, or stock exchange in the foreign jurisdiction.

    Segregation of Funds

    PMs operating in the IFSC must maintain client funds in a separate account in the IFSC Banking Unit (IBU) as permitted by RBI.

    Registration Fees

    An application fee of USD 1,500 and a one-time registration fee of USD 15,000 are applicable for new registrations. Following registration, a fee of USD 10,000 must be paid every five years.

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    What Our Clients Say

    Mr. Manish is highly professional. We get the best service and advice. Very punctual and dedicated team, always stays upfront in informing anything to avoid obligations. Thank you so much.

    Raman Shukla

    COO at VSERV Infosystems & Founder VSERV Academy
    Mr. Manish Mishra's team provided invaluable guidance and expertise in Fintech and NBFC advisory, helping us navigate complex financial regulations and achieve remarkable growth in our business. Their insights are truly a game-changer.

    Abhishek M R

    Managing Director AMR FINANCE PVT LTD
    Mr. Manish, as our Virtual CFO, has been instrumental in propelling our business to spontaneous growth. His expert guidance and strategic insights have transformed our financial landscape, paving the way for remarkable success.

    Ajay Kumar

    Founder & CEO - Eagabriz Shipping Pvt Ltd


    Have Questions?
    Find Answers Here

    Portfolio Management Services (PMS) is a professional financial service in which a portfolio of stocks is managed by qualified portfolio managers and stock market professionals with the support of a research team.

    It is headquartered at GIFT City, Gandhinagar in Gujarat.
    PMS registered in GIFT City- IFSC are regulated by both GIFT City Regulations and SEBI (Portfolio Managers) Regulations 2020.
    Yes, PMS registered in GIFT City -IFSC are required to comply with all the Income tax compliances as mandatory for general PMS.


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