RegulationsCurrent
IFSCA (Fund Management) Regulations, 2025 [as amended up to September 10, 2026]
File: IFSCA__Fund_Management__Regulations__2025__as_amended_up_to_September_10__2026_20260914_0701.pdf
Resources · Source library
Source library
Regulations, circulars, FAQs, forms and reports.
33 of 33 documents
CircularCurrent
Specification of Certification Course for the employees of FMEs under the FM Regulations, 2025
File: PreviewPdf8.pdf
CircularCurrent
Clarification regarding the Circular dated May 12, 2026, titled 'Implementation Services by Investment Advisers in the IFSC'
The May 12, 2026 Implementation Services circular itself is not in the source set
File: PreviewPdf8_copy.pdf
FAQsCurrent
FAQs on IFSCA (Fund Management) Regulations, 2025
Last page: information updated till June 30, 2026 - predates Second Amendment (w.e.f. September 10, 2026)
File: ViewFile12_copy_3.pdf
CircularCurrent
Governance and oversight of Schemes in IFSC - Segregation of the role of Fiduciaries
File: PreviewPdf8_copy_2.pdf
CircularCurrent
Amendment to Circular on Appointment and Change of KMP by a FME
File: PreviewPdf10.pdf
CircularCurrent
Specification of Certification Course for KMPs/Employees under the FM Regulations, 2025
Same reference number printed as CIR_KMP_AMD_2026 - verify
File: PreviewPdf9.pdf
Regulations (earlier version)Earlier version
IFSCA (Fund Management) Regulations, 2025 [as amended up to January 30, 2026]
File: IFSCA__Fund_Management___Amendment__Regulations_2026__Amended_up_to_January_30__2026_20260507_0802.pdf
CircularTime-bound
One-time window to extend the validity of the Placement Memorandum
3-month window from January 27, 2026 - now expired; teach as historical/transitional
File: ViewFile12.pdf
CircularCurrent
Procedure and clarification on filing of scheme application under Third-Party Fund Management Arrangement
File: PreviewPdf8_copy_3.pdf
Reporting formatCurrent
Reporting Format for Fund Management Entities (workbook, January 2026)
Sheets: Introduction, Summary, Portfolio, Investors, PMS, Complaints, AML-CFT, Compliance Status, Compliance Report
File: Reporting_Format_for_Fund_Management_Entities_02012026_20260102_0255.xlsx
CircularCurrent
Framework on Stewardship Code in IFSC
File: ViewFile11.pdf
CircularCurrent
Fee structure applicable for Third-Party Fund Management Services
File: ViewFile12_copy.pdf
CircularHistorical
Extension of timeline for appointment of Custodian under Regulation 132 of the IFSCA (Fund Management) Regulations, 2025
Six-month extension overtaken by substituted Explanation II to reg 132 (w.e.f. January 30, 2026): 24 months from commencement of FM (Amendment) Regulations, 2026
File: ViewFile13.pdf
CircularCurrent
Framework to facilitate Co-investment by Venture Capital Scheme and Restricted Scheme
File: ViewFile11_copy.pdf
CircularCurrent
Transition to IFSCA (Fund Management) Regulations, 2025
File: ViewFile12_copy_2.pdf
CircularCurrent
Revision in reporting formats for Fund Management Entities in IFSC
File: ViewFile13_copy.pdf
CircularCurrent, as amended
Appointment and Change of Key Managerial Personnel by a Fund Management Entity
Para 4 omitted by CIR_KMP_AMD_2026
File: ViewFile14.pdf
CircularContinues under reg 148(5)
Facilitating investments by NRIs and OCIs into Indian securities through Schemes / Funds in an IFSC
Issued under FM Regulations, 2022; depends on SEBI FPI framework (SEBI documents in source set are reference only).
File: ViewFile15.pdf
CircularContinues under reg 148(5)
Ease of doing business - Filing of Schemes or funds under IFSCA (Fund Management) Regulations 2022
Continues under reg 148(5) for minimum PPM disclosures and filing documents (Chapter III except Retail). Para 6 (validity beyond 6 months) and references to the 2022 Regulations are overtaken by the 2025 Regulations.
File: easeofdoingbusinessfilingofschemesorfundsunderifscafmregulations050420240726552.pdf
CircularContinues under reg 148(5)
Clarifications in relation to FMEs and Schemes set up in IFSCs by Sovereign Wealth Funds
Supplements CIR_SWF_2023; both summarised in FAQ25 Q175. Regulation numbers cited are from FM Regulations, 2022
File: clarificationsinrelationtofundmanagemententitiesandschemessetupinifscsbysovereignwealthfunds11032024061049.pdf
CircularContinues under reg 148(5)
Maintenance of net worth by Fund Management Entity
Issued under FM Regulations, 2022; continues under regulation 148(5) of FM Regulations, 2025; cited in FAQ25 Q10
File: maintenanceofnetworthbyfundmanagemententity160220240558132.pdf
CircularContinues under reg 148(5)
Accredited Investors in IFSC
Issued under reg 2(1)(c) of FM Regulations, 2022; continues under reg 148(5); restated in FAQ25 Q177-187
File: accreditedinvestorsinifsc25012024021313.pdf
CircularCurrent
Amendment to Circular on Reporting Norms for FMEs under IFSCA (Fund Management) Regulations, 2022
File: amendmenttocircularonreportingnormsforfundmanagemententitiesunderifscafundmanagementregulations202203112023070228.pdf
CircularCurrent, as amended
Reporting Norms for Fund Management Entities under IFSCA (Fund Management) Regulations, 2022
Half-yearly read as quarterly per CIR_REPORTING_AMD_2023; formats revised by CIR_REPORTING_FORMATS_2025; cited in FAQ25 Q160. Email submission mode (para 4) may have been replaced - verify.
File: circularonreportingnormsforfundmanagemententitiesunderifscafundmanagementregulations202231052023035841.pdf
CircularContinues under reg 148(5)
Clarifications in relation to FMEs and Schemes set up in IFSCs by Sovereign Wealth Funds
File: clarificationsinrelationtofundmanagemententitiesandschemessetupinifscsbysovereignwealthfunds01032023062248.pdf
CircularContinues under reg 148(5)
Clarifications in relation to Family Investment Funds
Issued under FM Regulations, 2022; continues under reg 148(5) and cited in FAQ25 Q124. Para 2(a) entity-inclusion now in reg 2(1)(ii). Para 2(c) (prior approval for additional vehicles) differs from reg 104(5) of the 2025 Regulations (filing + fee) - regulation prevails.
File: clarificationsinrelationtofamilyinvestmentfunds01032023062215.pdf
CircularContinues under reg 148(5)
Disclosures by Fund Management Entities for Environmental, Social or Governance (ESG) Schemes
Issued under reg 72(2) of FM Regulations, 2022; continues under reg 148(5); cited in FAQ25 Q94
File: disclosuresbyfundmanagemententitiesforenvironmentalsocialorgovernanceesgschemes18012023065239.pdf
CircularContinues under reg 148(5)
Angel Funds under IFSCA (Fund Management) Regulations, 2022
Issued under FM Regulations, 2022; continues under reg 148(5); restated in FAQ25 Q31-39. Fee amounts in paras 23-24 not used - may be overtaken by fee circular dated April 08, 2025 (not in source set).
File: circularonangelfundsunderifscafundmanagementregulations202201072022044126.pdf
GuidanceCheck before use
Guidelines on ascertaining KMP eligibility in accordance with Regulation 7 of the IFSCA (Fund Management) Regulations, 2025
Reproduces the pre-January 30, 2026 text of regulation 7(5)(b). Parts relying on the 2-year consultancy cap and old Compliance Officer proviso must be read against the substituted text.
File: ViewFile11_copy_2.pdf
FormContinues under reg 148(5)
Angel Scheme - Format of Intimation of Investment
File: Angel_Scheme_-_Format_of_Intimation_of_Investment200920231800.docx
FormContinues under reg 148(5)
Application form for filing of scheme or fund of registered FMEs (Annex-A)
File: Application_form_for_filing_of_scheme_or_fund_of_registered_FMEs.docx
FormHistorical
Application form for FME Registration under IFSCA (Fund Management) Regulations, 2022 (First Schedule)
2022-regime form; the 2025 First Schedule requires filing on SWIT with declarations
File: Application_form_for_FME_Registration_under_IFSCA__Fund_Management___Regulations__2022080620231454.docx
This is a learning and compliance-preparation tool. Plain-English readings, practical notes, 'what changed' summaries, the timeline and calculators are the portal's interpretation and do not replace professional advice or the notified Gazette text of the IFSCA (Fund Management) Regulations, 2025 and its amendments.
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Global Horizons Capital Advisors (IFSC) Private Limited — an IFSCA-licensed investment banker
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Published in The Chartered Accountant (Jun 2025, Jan 2025, Mar 2024) and Chartered Secretary (Aug 2023)
Prashant Kumar is a seasoned Company Secretary and corporate governance strategist with more than 13 years of experience advising large corporates, promoter-led groups and global businesses on compliance, regulatory risk and board governance. In GIFT IFSC, the IFSCA regime is his day job rather than a research topic.