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Eligible entities apply to set up an International Branch Campus or Offshore Education Centre in the International Financial Services Centre by submitting the prescribed application form and supporting documents. Applicants meet the eligibility criteria in the regulations and submit details of the parent entity, proposed courses, financial requirements, and infrastructure facilities. The Authority grants an in-principle approval first. The Authority grants final approval for operations after the applicant meets prerequisites for infrastructure and other arrangements. The parent entity ensures that degrees and certificates match those awarded in the home jurisdiction.
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International Financial Services Centres Authority
F.No.522 /IFSCA/Foreign Universities and Institutions in IFSC/2021-22
February 23, 2023
Subject: Application form for setting up of International Branch Campus (IBC) or Offshore Education Centre (OEC) at International Financial Services Centre (‘IFSC’)
The reference may be invited to IFSCA (Setting up and Operation of International Branch Campuses and Offshore Education Centres) Regulations, 2022 (“Regulations”) dated October,11 2022.
The application form for seeking registration under the aforesaid regulations to set up and operate IBC or OEC is annexed to this circular and is also available at IFSCA website https://ifsca.gov.in/Downloadfile/Index
Applicants desirous of setting up IBC or OEC and meeting the eligibility criteria as outlined in the regulations, may apply in the prescribed format along with the supporting documents to the Authority.
Initially, an in-principle approval as envisaged under the Regulations shall be granted, followed by final approval for commencement of operations after meeting necessary prerequisites in terms of infrastructure and other arrangements.
A copy of this circular is available on the website of the Authority https://ifsca.gov.in/Circular
Yours faithfully,
-Sd/-
(Ashutosh Sharma) General Manager
ANNEXURE-I
APPLICATION FORM FOR SETTING UP OF INTERNATIONAL BRANCH CAMPUSES OR OFFSHORE EDUCATION CENTRES IN AN INTERNATIONAL FINANCIAL SERVICES CENTRE
To,
International Financial Services Centres Authority,
2nd & 3rd Floor, Savvy Pragya, Gujarat International Finance Tec-City, Gandhinagar, Gujarat 382355
Dear Sir,
Subject: Application for setting up of International Branch Campus (IBC) or Offshore Education Centre (OEC) in an International Financial Services Centre (IFSC)
Please find enclosed the application of (Name of Parent Entity) under regulation 6 of the International Financial Services Centres Authority, (Setting up and Operation of International Branch Campuses and Offshore Education Centres) Regulations, 2022, for grant of certificate of registration (CoR) for the purpose of setting up of International Branch Campus (IBC)/ Offshore Education Centre (OEC) in an International Financial Services Centres (IFSC).
Yours faithfully,
(Signature of Authorised Official)
Name:
Designation:
Encl: As above
Page 1 of 11
ANNEXURE-II
| Sr. No. | Particulars | Response |
|---|---|---|
| A | Basic information of the Applicant (Parent entity) | |
| 1. | Full name of the applicant | |
| 2. | Date and Place of incorporation | |
| 3. | Complete address of the principal campus/office of the applicant | |
| 4. | Telephone and Fax Number(s) - | |
| 5. | - (a) Legal entity status of the applicant in home jurisdiction |
(b) Registration number allotted to the applicant, if any | | | 6. | Email and Website URL (if available) | | | 7. | Mission, vision and objective of the applicant | Details annexed hereto | | 8. | Complete details of the senior executive officers/key executives of the applicant, by whatever name called | Details annexed hereto | | 9. | Whether applicant is regulated in its home jurisdiction, if yes, provide the following details:
(a) Name of the regulator
(b) Name of the country | | | 10. | Details of the person authorised for making this application on behalf of the applicant (Name, Designation, E-mail, Phone & Address) | Details annexed hereto | | 11. | Ranking of the applicant in global overall ranking and/or subject ranking in the last published QS World Universities ranking (in case of foreign university)
Or
Details if the Applicant is recognised as a reputed Institution in its home jurisdiction by any statutory body or reputed agency (in case of foreign educational institution) | Details annexed hereto | | 12. | Details of any legal proceedings, if any, initiated against the applicant in home jurisdiction, which may have any material adverse impact on the proposed operations of IBC or OEC | Details annexed hereto | | 13. | Details of the approved policy and internal regulations of the applicant for handling student complaint | Details annexed hereto | | 14. | Details of the approved policy of the applicant for grievance redressal | Details annexed hereto | | 15. | Policy and process of the applicant for selection of students including selection of foreign students | Details annexed hereto | | 16. | Policy and process of the applicant for recruitment of faculty including recruitment of foreign faculty | Details annexed hereto |
Page 2 of 11
Page 3 of 11
| B | Details of the proposed IBC or OEC | |
|---|---|---|
| 1. | Proposed name of IBC or OEC (similar or same name as that of applicant) | |
| 2. | Courses proposed to be offered by the applicant in the permissible subject areas and details thereof: |
(a) Degree courses
(b) Diploma courses
(c) Certification courses | Details annexed hereto | | 3. | Research programmes proposed to be offered by the applicant in the permissible subject areas, if any. | Details annexed hereto | | 4. | Name/Nomenclature of corresponding courses and/or research programmes offered in home jurisdiction | | | 5. | Whether the courses and/or research programmes listed in s.no. 4 above are accredited in the home jurisdiction, provide details, if any. | Details annexed hereto | | 6. | Detailed description of the courses or/and research programmes proposed to be offered by IBC or OEC, including:
(a) Duration
(b) Academic plan
(c) Credit system
(d) Mode of delivery | Details annexed hereto | | 7. | Whether the courses and/or research programmes proposed to be offered by the IBC or OEC are identical in all respects with the courses and/or research programmes conducted by applicant in its home jurisdictions | |
Page 4 of 11
| 8. | Whether the curriculum/content for the courses and/or research programmes proposed to be offered by the IBC or OEC is identical in all respects | |
|---|---|---|
| 9. | - (a) Whether there is any modification in curriculum/content for courses and/or research programmes proposed to be conducted by IBC or OEC. If yes, provide details of such modification. |
(b) Whether approval from academic council or any other competent authority has been obtained for aforesaid modifications. Attach a copy of such approval. | Details annexed hereto | | 10. | Details regarding estimated number of students proposed to be enrolled in IBC or OEC for each course or research programme for the first 5 years of operation. | Details annexed hereto | | 11. | Complete details regarding estimated financial requirements to operate the IBC or OEC by the applicant for the first 5 years of operation, including financial support by the applicant. | Details annexed hereto | | 12. | - (a) Details regarding the infrastructure facilities proposed to be established or procured through any contractual arrangements for the IBC or OEC, including size of the institution, teaching space, laboratory, library, common facility area, etc.
(b) Details of research facility proposed to be set up in IBC or OEC, if any. | Details annexed hereto |
Page 5 of 11
| 13. | - (a) Details about prescribed tuition fees and all other applicable fees and other expenses
(b) Provide comparison of fee structure proposed for courses and/or research programmes in IBC or OEC viz-a-viz applicant’s home jurisdiction | Details annexed hereto | | --- | --- | --- | | 14. | Details regarding governance and management structure of IBC or OEC | Details annexed hereto | | 15. | - (a) Whether the student selection policy for IBC or OEC is identical and similar to the policy followed by the applicant
(b) Whether prior approval has been obtained from Authority for any deviation in the student selection policy for IBC or OEC, details thereof. | Details annexed hereto | | 16. | - (a) Whether the faculty recruitment policy for IBC or OEC is identical and similar to the policy followed by the applicant
(b) Whether prior approval has been obtained from Authority for any deviation in the faculty recruitment policy for IBC or OEC
(c) Details of proposed faculty structure in IBC or OEC | Details annexed hereto | | 17. | Whether any scholarship is available for courses or research programmes conducted by IBC or OEC, if yes, details thereof. | |
