The ICFAI University, Sikkim has been established under Section 4 (2) of the Institute of Chartered Financial Analysts of India University, Sikkim Act 2004 (Act 9 of 2004) passed by Legislative Assembly of Sikkim. The University has been notified under Notification No.9/LD/2004 Dated, 15-10-2004.

University Grants Commission (UGC):
The University is empowered to award degrees under Section 22 of the UGC Act, 1956.

Bar Council of India (BCI):
The Bar Council of India has granted approval for offering 5 year BBA-LLB (Hons.), BA-LLB (Hons.) and 3 year LLB Programs at the University.

The University believes in creating and disseminating knowledge and skills in core and frontier areas through innovative educational programs, research, consulting and publishing, and developing a new cadre of citizens with a high level of competence and deep sense of ethics and commitment to the code of professional conduct.

The Visitor of the University is H.E. The Governor of Sikkim. The University is administered as per the Act, Statutes and Rules. The Board of Governors is headed by the Chancellor and has the Vice-Chancellor and others as members. The Board of Management is headed by the Vice-Chancellor. The Academic Council is responsible for all academic matters.

The University offers Graduate and Post Graduate Programs in Management, Information Technology, Law, Humanities & Social Sciences and other areas.