Offering
GIFT City Funds
Foreign-currency products, usually in US dollars, from India’s IFSC in GIFT City, available through two routes: through MOFSL, with EquityBox as its Authorised Partner, or distributed by Vedansh Wealth LLP. We confirm the route for each product before you invest.
- Regulated by
- International Financial Services Centres Authority (IFSCA); RBI rules for money sent from India (for resident individuals, the LRS)
- Provided by
- IFSCA-regulated entities in GIFT City, such as fund management entities; each product’s documents name its provider
- Our role
- Depends on the product: EquityBox as Authorised Partner of MOFSL, or Vedansh Wealth LLP as distributor
- Often considered by
- Investors looking for international diversification, usually in US dollars, through an India-based financial centre.
What’s included
- GIFT City products offered through MOFSL, with EquityBox as its Authorised Partner
- GIFT City funds from IFSCA-registered fund management entities, distributed by Vedansh Wealth LLP
- The provider and route for each product, confirmed before you invest
- Help with onboarding and KYC
- Help with remittance paperwork, such as your bank’s LRS forms if you are a resident individual
- An outline of currency, tax and reporting considerations to discuss with your tax adviser
How it works with us
- Step 1
Choose a product
Go through its objective, currency, minimum investment, fees, lock-in and who may invest, in its offering documents. We tell you whether it is offered through MOFSL or distributed by Vedansh Wealth LLP.
- Step 2
Onboard
Complete KYC as the product requires: with MOFSL, or with the fund or its administrator.
- Step 3
Fund the investment
Resident individuals usually remit from India under the LRS, and tax collected at source may apply. Other investors, such as non-residents or companies, follow the rules that apply to them.
- Step 4
Track
Statements come from the product’s provider. Values are usually in US dollars, so their rupee value also moves with the exchange rate.
Things to understand first
General points only. Read the offer documents for the specific product before you invest.
- Investments are in a foreign currency, usually US dollars, so their value in rupees moves with the exchange rate as well as the market.
- If you are a resident individual investing from India, you remit under the RBI’s Liberalised Remittance Scheme. The amount counts towards your annual LRS limit, and tax may be collected at source on the remittance.
- Each product sets its own minimum investment, fees, lock-in, redemption terms and who may invest, in its offering documents. Some are open only to investors who meet higher minimums or other eligibility conditions.
- Tax treatment depends on the product and your circumstances. Discuss it with your tax adviser.
Common questions
What is GIFT City?
GIFT City in Gandhinagar, Gujarat, is home to India’s International Financial Services Centre (IFSC). Financial services there are regulated by the International Financial Services Centres Authority (IFSCA) and are generally carried out in foreign currency.
Can resident Indians invest?
Yes, subject to each product’s eligibility conditions. Resident individuals can remit money to GIFT City under the RBI’s Liberalised Remittance Scheme to invest in permitted financial products, within the annual LRS limit set by the RBI, which covers all permitted purposes combined.
Who offers GIFT City products through EquityBox?
There are two routes. Some products are offered through Motilal Oswal Financial Services Limited (MOFSL), with EquityBox acting as its Authorised Partner. Others are distributed by Vedansh Wealth LLP, of which EquityBox is a brand. For each product, we tell you the route and the provider before you invest.
How is this different from investing abroad directly?
A GIFT City product is offered from India’s IFSC and regulated by IFSCA. Investing abroad directly means dealing with a platform or fund in another country. For resident individuals investing from India, both usually involve remitting money under the LRS.
Regulatory information
GIFT City products are available through two routes. Products offered through Motilal Oswal Financial Services Limited (MOFSL) are facilitated by EquityBox, a brand of Vedansh Wealth LLP, as an Authorised Partner of MOFSL. Other GIFT City funds are distributed by Vedansh Wealth LLP and managed by fund management entities registered with the International Financial Services Centres Authority (IFSCA). The provider and route for each product are identified before you invest. Who may invest depends on the product and the investor, as set out in each product’s offering documents. Resident individuals investing from India remit under the Reserve Bank of India’s Liberalised Remittance Scheme, within its limits; other investors follow the rules that apply to them.
Talk to us about gift city funds
An introductory call, with no obligation to invest.