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InCorp Global has become the first company at GIFT IFSC to receive approval for a BATF license.

Economy Business | Dated: 28 Oct 2024

Singapore-based InCorp Global Pte Limited, a provider of corporate solutions and professional services, has become the first company at the Gujarat International Finance Tec-City (GIFT) International Financial Services Centre (IFSC) to obtain a BATF (Bookkeeping, Accounting, Taxation, and Financial Crime Compliance) license.

🎯 Key Highlights:

  • - This license, granted under the IFSCA (BATF Services) Regulations, 2024, allows InCorp Global to offer BATF services to businesses outside the Banking, Financial Services, and Insurance (BFSI) sectors.
  • - The services covered by this license have been standardized to meet internationally recognized benchmarks.
  • - A key feature of the BATF regulations is the inclusion of financial crime compliance services.

💡 Other Important Facts:

  • (i) This development strengthens InCorp Global's capabilities in areas like Anti-Money Laundering (AML), Countering the Financing of Terrorism, and Know Your Customer (KYC) compliance.
  • (ii) InCorp Global currently serves a diverse range of clients from countries including Australia, Belgium, Canada, France, Germany, New Zealand, Singapore, Switzerland, the United Arab Emirates (UAE), the United Kingdom (UK), and the United States of America (USA), among others.
  • (iii) The BATF regulations were introduced following a government notification on January 18, 2024. These regulations define BATF services as "financial services" according to Section 3 of the IFSCA Act, 2019.

📚 Test Your Knowledge:

Which company recently became the first at GIFT IFSC to receive approval for a BATF license?

Correct Answer: InCorp Global

🚀 Quick Recap:

About InCorp Global Pte Ltd

  • Chairman: Lennard Yong
  • CEO India : Manish Modi