The International Financial Services Centres Authority (IFSCA), with an objective to develop the financial products and services in the Gujarat International Finance Tec-City International Financial Services Centre (GIFT IFSC) has prescribed the regulatory framework for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) in IFSC.

IFSCA has permitted global participants i.e. REITs and InvITs incorporated in FATF compliant jurisdictions to list on the stock exchanges in GIFT IFSC.Additionally, InvITs have been permitted to raise funds through private placements also.

The REITs and InvITs registered in IFSC have been permitted to invest in real estate assets and infrastructure projects respectively in IFSC, India and other foreign jurisdictions, which is in line with the framework provided in the global financial centres.

Additionally, the REITs and InvITs that are already listed in any of the permissible jurisdictions other than IFSC (currently USA, Japan, South Korea, United Kingdom excluding British Overseas Territories, France, Germany, Canada and India) or India have been permitted to list and trade on the recognised stock exchanges in IFSC, subject to compliance with their respectivelaws of home jurisdiction.

The listing of REITs and InvITs in IFSC shall be in accordance with the requirements of the stock exchanges in IFSC.

The entities in IFSC can participate and benefit from the growth of real estate and infrastructure sector in international jurisdictions.

Further details on the framework for REITs and InvITsare available on the IFSCA website at the URL:https://ifsca.gov.in/Circular

Cross-border listing of REITs and InvITs permitted, enabling listing and private placements on GIFT IFSC subject to home-law compliance. IFSCA permits REITs and InvITs incorporated in FATF compliant jurisdictions to list on GIFT IFSC stock exchanges, allows InvITs to raise funds via private placements, and authorises IFSC registered trusts to invest in assets within IFSC, India and other foreign jurisdictions. Entities already listed in permissible jurisdictions or India may also list and trade on IFSC exchanges, subject to compliance with their home jurisdiction laws and IFSC exchange listing requirements.