The International Financial Services Centres Authority (IFSCA) has granted registration to the first foreign Family Office structured as a Family Investment Fund under the IFSCA (Fund Management) Regulations, 2025, marking a key milestone for GIFT International Financial Services Centre (IFSC) in its private wealth expansion journey.
The registration pertains to a UK-based family office structure, and has been granted to Poornam Asset Management (IFSC) Pvt Ltd, which is acting as the IFSC-based fund management platform for the structure, official sources told the businessline on Monday. The development highlights the growing traction of regulated family office vehicles in GIFT IFSC under the evolving Family Investment Fund framework.
An IFSCA release which does not name the family office stated that the approval represented a significant step in strengthening a globally competitive and flexible regulatory ecosystem for foreign family offices and private wealth structures. The framework enables efficient structuring of family wealth through well-governed fund mechanisms within the IFSC, it added.
