GIFT City PMS: Portfolio Management Services in GIFT IFSC
By Anup Vatyani, AMFI-registered Mutual Fund Distributor (ARN 106715)
Last reviewed October 2026
The short answer. A GIFT City PMS is a professionally managed portfolio held in your own name, run by an IFSCA-registered manager, usually in US Dollars. The minimum is USD 75,000, reduced from USD 150,000 in 2025. Unlike a fund, you own the individual securities, which gives more transparency and customisation but more paperwork.
GIFT City PMS vs domestic PMS vs GIFT City fund
| GIFT City PMS | Domestic PMS | GIFT City retail fund | |
|---|---|---|---|
| Regulator | IFSCA | SEBI | IFSCA |
| Minimum | USD 75,000 | ₹50 lakh | Set by scheme, often a few thousand USD |
| Currency | Usually USD | INR | Usually USD |
| Who owns the securities | You | You | The fund |
| Customisation | Possible | Possible | None |
| Paperwork and tax reporting | Each holding | Each holding | One holding |
Types of GIFT City PMS
- Discretionary: the manager decides what to buy and sell within the agreed mandate.
- Non-discretionary: the manager recommends; you approve each trade.
- Advisory: the manager advises; you execute.
Questions to ask a GIFT City PMS manager
- Is the manager registered with IFSCA? Check the IFSCA Directory.
- What are the fixed and performance fees, and how is performance measured?
- Which custodian holds the securities, and how do I see them?
- How are withdrawals paid, and how quickly?
- What will I need to report for tax in India and my country of residence?
Compare with GIFT City AIFs and see all minimum investment amounts.
Common questions
What is GIFT City PMS?
Portfolio management services in GIFT City are offered by IFSCA-registered managers who run a portfolio of securities held in your own name, usually in US Dollars, rather than pooling your money in a fund.
What is the minimum investment for GIFT City PMS?
USD 75,000. IFSCA reduced it from USD 150,000 under the Fund Management Regulations, 2025.
Can NRIs invest in GIFT City PMS?
Yes. NRIs can invest from an overseas account in US Dollars, without LRS or TCS, subject to the manager's eligibility and KYC.
Can resident Indians invest in GIFT City PMS?
Yes, under LRS. The investment counts towards the USD 250,000 annual limit and attracts 20% TCS above ₹10 lakh a year, which is claimed back in the income tax return.
How is GIFT City PMS different from a domestic PMS?
A domestic PMS is regulated by SEBI, invests in rupees and needs ₹50 lakh. A GIFT City PMS is regulated by IFSCA, works in US Dollars, needs USD 75,000 and can invest in Indian and global securities.
Official sources
Rules change. Check the current position with the authority that sets it.
- IFSCA — International Financial Services Centres Authority — The regulator for all financial services in GIFT IFSC.
- IFSCA Directory of regulated entities — Check that a Fund Management Entity is registered.
- RBI — FAQs on the Liberalised Remittance Scheme — The annual limit and permitted purposes for resident Indians.
Have a question about how this works?
Anup Vatyani explains GIFT City fund structures and the investment process in plain English. Educational conversation only, not personalised advice.
Talk to AnupThis page is educational and is not investment, tax or legal advice. Figures and rules are as understood at the date shown and can change; check the official sources and the scheme's offer documents. Investments are subject to market risks; read all scheme-related documents carefully.