Amicorp Group expands India operations further with new office in GIFT City

Amicorp Group, a global provider of corporate management, financial markets and fund administration services, has expanded its footprint in India further by opening an office in Gujarat International Finance Tec-City (“GIFT City”).

It follows another office opening in Kuala Lumpur, Malaysia, in October as the Group continues to strengthen its offering across emerging markets.

The new Gandhinagar office – adding to Amicorp’s offices in Bangalore, Mumbai, Hyderabad and New Delhi – will provide on-the-ground support for domestic and international clients looking for Trust and Fund administration services in India’s first and only International Financial Services Center (“IFSC”).

Established by the Government of India as a Special Economic Zone (“SEZ”), GIFT City is a commercial City designed to compete with other IFSCs, with its ­­own regulated business environment that offers lucrative benefits such as reduced regulations and taxes, simplified cross-border transactions, and convenient currency conversion facilities.

“GIFT City can lay claim to a stable, regulated business environment with world-class infrastructure, a growing domestic and international financial ecosystem offering a wide range of financial products and is well-connected to global financial hubs,” said Tariq Aboobaker, Managing Director, Amicorp Group.

“As such, it provides a great platform for Aternative Investment Funds (“AIFs”) and Family Investment Funds (“FIFs”) looking to access international markets and investors, to diversify their portfolio and reduce exposure to risks associated with operating solely within domestic markets. Its SEZ status allows for the domiciliation of offshore funds in India, making it also an excellent location for setting up offshore funds, something that could be particularly appealing for fund managers looking to tap into the Indian market or to attract offshore investors.”

Amicorp was granted an Ancillary Service Provider license which entitles it to provide a range of Fund and Trustee administration services, including Fund set up, Fund compliance, Fund accounting and operational support services, along with Company Secretarial Duties.