The Ministry of Commerce and Industry on 16th June 2021 has published the Special Economic Zones (Amendment) Rules, 2021 to further amend the Special Economic Zones Rules, 2006.
Through this amendment a new rule 21A has been instered which deals with setting up of unit by Multilateral or Unilateral or International agencies in International Financial Services Centre.
A Multilateral agency shall be allowed to set up their local or regional office in the International Financial Services Centre as an Unit.
The application for setting up and operation of such Unit in the International Financial Services Centre shall be made before the Board of Approval through the concerned Development Commissioner and the terms and conditions for setting up and operations by such Units shall be laid down by the Board of Approval based on the recommendation of the Development Commissioner.
