AIF Advisory

Best Virtual CFO Services for Startups in India

You want to start a Fund, but where do you start?

What approvals to get?

Whether to set up in India or outside?

Pros and Cons?

SEBI and GIFT City are two options for setting up Funds in India.

SEBI-regulated Investment Platforms and the International Financial Services Centre (IFSC) at GIFT City have their unique nuances and pros and cons.

Establishing and operating regulated investment structures today requires more than regulatory approvals. Fund managers, investment sponsors, family offices, financial institutions, and global investors require strategic structuring, regulatory foresight, governance design, and cross-border execution capability to build efficient and institutionally credible platforms.

Anbac Advisors provides an integrated SEBI and GIFT City advisory services designed to support

  • Sophisticated Investment Structures,
  • Fund Platforms, and
  • International Financial Operations.

Our advisory combines

  • Regulatory Expertise,
  • Transaction Understanding,
  • Fund Structuring Capability,
  • Cross-Border Experience

to help clients establish compliant, commercially efficient, and globally competitive investment vehicles.

SEBI Regulatory & Investment Platform Advisory

SEBI-regulated entities operate within an increasingly dynamic regulatory environment requiring strong governance frameworks, disciplined compliance systems, and carefully structured investment models.

We advise fund sponsors, asset managers, investment advisors, and financial institutions on the establishment, structuring, and ongoing management of regulated investment platforms.

Our experience extends across:

  • Alternative Investment Funds (AIFs)
  • Portfolio Management Services (PMS)
  • Investment Advisors and Wealth Platforms
  • Venture Capital and Private Equity Structures
  • Fund Managers and Asset Management Platforms
  • Institutional and Strategic Investment Vehicles

Our objective is not merely regulatory registration, but helping clients build durable and institutionally credible investment platforms aligned with their investment philosophy and commercial objectives.

  1. SEBI Registration & Licensing Advisory

Regulatory approvals form the foundation of any investment platform.

We support clients through the regulatory approval process with a focus on structural clarity, documentation integrity, and regulator readiness.

Our services include:

  • SEBI registration and licensing assistance
  • Regulatory feasibility assessment
  • Structuring advisory for regulated investment entities
  • Preparation and review of application documentation
  • Regulatory engagement and approval coordination
  • Licensing strategy and entity design support

Our advisory approach helps reduce approval friction while ensuring long-term regulatory sustainability.

  1. Fund Structuring & Investment Architecture

The success of an investment platform is often determined by the quality of its structure.

We advise sponsors and fund managers on designing investment structures that optimize governance, investor protection, tax efficiency, and commercial flexibility while remaining aligned with SEBI regulations and investment strategy.

Our structuring support includes:

  • AIF and investment vehicle structuring
  • Venture capital and private equity fund architecture
  • Sponsor and manager structuring advisory
  • Investment strategy alignment and governance design
  • Fund documentation and investment framework advisory
  • Capital deployment and operational structuring
  • Domestic and cross-border investment framework design

Our focus is on creating scalable structures capable of attracting sophisticated institutional and global capital.

  1. Governance, Compliance & Regulatory Risk Advisory

Institutional investors increasingly evaluate governance quality and regulatory discipline before committing capital.

We assist clients in designing strong operational and compliance frameworks that improve regulatory preparedness and strengthen investor confidence.

Our services include:

  • Compliance framework design and implementation
  • Regulatory reporting systems and governance protocols
  • Drafting and review of policies and operational manuals
  • Review of investment management and governance agreements
  • Ongoing compliance monitoring and advisory
  • Regulatory health checks and compliance audits
  • Transaction-level regulatory review and risk assessment
  • Governance enhancement and control mechanisms

Our approach focuses on building proactive compliance environments rather than reactive regulatory responses.

GIFT City / IFSC Advisory

GIFT City has emerged as one of Asia’s most strategically positioned international financial centres, offering a globally competitive regulatory environment, tax efficiencies, and institutional infrastructure for cross-border investment activity.

For fund sponsors, global investors, family offices, and investment managers seeking international platform access, IFSC offers a sophisticated jurisdiction for establishing globally connected investment operations.

At ANBAC Advisors, we provide end-to-end advisory for establishing and operating investment structures and financial platforms within GIFT IFSC.

  1. IFSC Fund & Entity Formation Advisory

The establishment of an IFSC platform requires careful alignment between regulatory objectives, tax considerations, investment strategy, and operational design.

We support clients through the full lifecycle of IFSC setup and operational readiness.

Our services include:

  • IFSC fund and entity structuring advisory
  • Establishment of investment and holding structures
  • Regulatory approvals and licensing support
  • Coordination with custodians, administrators, and ecosystem partners
  • Fund manager and sponsor platform advisory
  • International investment structuring support
  • Operational and infrastructure readiness assistance

Our focus is on building globally credible structures designed for institutional participation and efficient cross-border execution.

  1. Cross-Border Structuring & Tax Advisory

One of GIFT City’s strongest advantages lies in its ability to facilitate efficient international capital flows and globally integrated investment structures.

We advise clients on structuring investments to align with commercial, tax, and regulatory objectives while preserving operational flexibility.

Our services include:

  • IFSC tax incentives and exemption advisory
  • FEMA and foreign investment compliance analysis
  • International transaction structuring
  • Offshore investment and fund-flow design
  • Cross-border capital deployment advisory
  • Regulatory review for foreign investors and investment managers
  • Tax-efficient investment platform structuring

Our advisory seeks to balance commercial efficiency with regulatory certainty and investor confidence.

  1. Operational Governance & Institutional Readiness

Long-term success within IFSC requires more than registration — it requires strong governance and operational discipline.

We assist clients in developing institutional-quality operational frameworks designed to support investor onboarding, regulatory compliance, and scalable growth.

Our support includes:

  • AML and KYC framework review
  • Investor onboarding and governance processes
  • Accounting and reporting framework design
  • Operational workflow and control systems
  • Regulatory reporting support
  • Strategic and ongoing compliance advisory
  • Institutional governance and oversight mechanisms

SEBI AIF vs GIFT City Fund Structure Comparison

Parameters SEBI AIF (India) GIFT City Fund Structure
Regulatory Authority SEBI IFSCA
Jurisdiction India International Financial Services Centre (IFSC)
Investor Focus Domestic Investors Global & International Investors
Currency Flexibility Primarily INR Multiple Foreign Currencies
Tax Efficiency Moderate Highly Competitive
Global Fund Access Limited Strong International Access
Operational Costs Moderate to High Competitive
Ease of Cross-Border Investments Moderate Excellent
International Fund Managers Limited Participation High International Appeal
Fund Structuring Flexibility Moderate Highly Flexible
Regulatory Environment Well Established Globally Competitive & Evolving
Ideal For Domestic AIF Managers International Fund Platforms
Foreign Investor Participation Subject to Regulations Highly Investor Friendly
Fund Vehicle Options Trust, LLP, Company Company, Trust, LLP, Variable Structures
Ecosystem Growth Mature Indian Market Rapidly Expanding Global Financial Hub
Frequently Asked Questions (FAQs)

1. What is GIFT City?

GIFT City (Gujarat International Finance Tec-City) is India’s first International Financial Services Centre (IFSC), designed to promote international financial services and cross-border investment activities under a globally competitive regulatory framework.

2. What is the difference between SEBI and GIFT City fund structures?

SEBI regulates domestic Alternative Investment Funds (AIFs) operating within India, while GIFT City funds are regulated by IFSCA and are designed to facilitate international investment activities with greater global flexibility.

3. Why are fund managers choosing GIFT City?

Fund managers prefer GIFT City due to its tax efficiency, foreign currency flexibility, international investor access, simplified global fund operations, and globally competitive regulatory ecosystem.

4. Is GIFT City better than SEBI AIF for international investors?

For international fundraising and cross-border investments, GIFT City is often considered more attractive due to its international financial centre framework and investor-friendly environment.

5. What types of funds can be established in GIFT City?

Common structures include:

  • Venture Capital Funds
  • Private Equity Funds
  • Hedge Funds
  • Family Office Structures
  • Fund of Funds
  • Real Estate Funds
  • Offshore Investment Platforms

6. What is an Alternative Investment Fund (AIF)?

An Alternative Investment Fund (AIF) is a privately pooled investment vehicle that invests in alternative asset classes such as startups, private equity, infrastructure, real estate, and other non-traditional investments.

7. What are the benefits of setting up an AIF in India?

Key benefits include:

  • Access to Indian investment opportunities
  • Structured regulatory framework
  • Growing startup ecosystem
  • Domestic institutional investor participation
  • Strong private capital market growth

8. Who regulates GIFT City funds?

Funds established in GIFT City are regulated by the International Financial Services Centres Authority (IFSCA).

9. Can foreign investors invest through GIFT City structures?

Yes. GIFT City structures are designed to attract foreign investors, global asset managers, family offices, and institutional investors through internationally aligned regulations.

10. What are the tax advantages of GIFT City?

GIFT City offers several potential tax benefits, including exemptions and incentives subject to regulatory conditions, making it highly attractive for global fund managers and international investment structures.

11. What documents are required for SEBI AIF or GIFT City fund setup?

Common documentation may include:

  • Private Placement Memorandum (PPM)
  • Fund constitutional documents
  • Compliance and AML policies
  • Investment management agreements
  • Investor subscription documentation

12. How long does it take to register an AIF or GIFT City fund?

The timeline depends on the complexity of the structure, documentation readiness, regulatory approvals, and operational setup requirements.

13. Why should I hire professional advisors for SEBI or GIFT City fund setup?

Professional advisors help ensure:

  • Proper regulatory structuring
  • Tax optimization
  • Investor readiness
  • Documentation accuracy
  • Faster implementation
  • Reduced compliance risks

14. Which is better for venture capital funds: SEBI or GIFT City?

The ideal structure depends on investor geography, fundraising plans, currency requirements, and investment strategy. Domestic India-focused VC funds often prefer SEBI AIFs, while globally focused structures may benefit from GIFT City.

15. What compliance requirements apply to SEBI and GIFT City funds?

Compliance may include:

  • Regulatory filings
  • Investor reporting
  • AML/KYC compliance
  • FATCA and CRS obligations
  • Audit and accounting requirements
  • Governance and operational reporting

At Anbac Advisors, SEBI and GIFT City advisory is approached as a strategic structuring and platform-building exercise rather than a compliance-driven engagement.

We work with fund sponsors, investment managers, and global investors to create investment platforms that are regulatorily sound, operationally efficient, and globally competitive.

Our role extends beyond approvals and filings — we help clients build investment ecosystems capable of attracting sophisticated capital, navigating complex regulatory environments, and supporting long-term investment success.