Common Application Form for Foreign Portfolio Investors

Feb 05, 2020 | by Avantis RegTech Legal Research Team

Industry Specific Compliance

The Securities and Exchange Board of India (SEBI) on February 04, 2020, directed all applicants seeking Foreign Portfolio Investor (FPI) registration are required to duly fill Common Application Form (CAF). The Department of Economic Affairs vide Notification No. 4/15/2016-ECB, notifies the Common Application Form, a single combined application form for registration of Foreign Portfolio Investor (FPI) with SEBI, Allotment of Permanent Account Number (PAN) and Know Your Customer (KYC) for opening bank and demat account in India.

Thus, for seeking FPI registration, the applicants are required to duly fill CAF (Annexure 1, Page 26) and provide supporting documents and applicable fees for SEBI registration and issuance of PAN. The other intermediaries dealing with FPIs may rely on the information in CAF for the purpose of KYC.

SEBI has directed Designated Depository Participants (DDP) to continue accepting in–transit FPI registration applications as prescribed in operational guidelines issued on November 05, 2019, for a period of 60 days from date of issuance of this Circular.

SEBI has also issued operational guidelines for FPIs and DDPs for registration related activities, KYC requirements, investment conditions and restrictions. These consolidated guidelines withdraw the existing circulars, FAQs, operational guidelines and other guidance.

[Circular No. IMD/FPI&C/CIR/P/2020/022]


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