Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019
Summary
This part covers Chapter I Preliminary and the beginning of Chapter II Registration of Foreign Portfolio Investors of the SEBI (Foreign Portfolio Investors) Regulations, 2019 as amended up to July 07, 2026. It sets out the short title and commencement and defines 19 terms including Act, Board, certificate, control, custodian, designated depository participant, foreign portfolio investor, offshore derivative instrument and SWAGAT-FI. It prohibits any person from buying, selling or dealing in securities as a foreign portfolio investor without a certificate granted by a designated depository participant and prescribes the application form, manner and supporting documents and the eligibility consideration framework. This part prescribes eligibility conditions for applicants seeking registration as foreign portfolio investors under clauses (a) to (h). It permits non-resident Indians, overseas citizens of India and resident Indians as constituents subject to percentage limits, control restrictions and Liberalised Remittance Scheme requirements, with specific provisos and exemptions for Government Securities, mutual funds, eligible fund managers, IFSC entities and SWAGAT-FI. It also requi
Text
These regulations may be called the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019.
They shall come into force on the date of their publication in the Official Gazette.
“Act” means the Securities and Exchange Board of India Act, 1992;
“appropriately regulated” entity means an entity which is regulated by the securities market regulator or the banking regulator of home jurisdiction or otherwise, in the same capacity in which it proposes to make investments in India;
“Bilateral Memorandum of Understanding with the Board” shall mean a bilateral Memorandum of Understanding between the Board and any authority outside India that provides for information sharing arrangement as specified under clause (ib) of sub-section (2) of Section 11 of the Act;
“Board” means the Securities and Exchange Board of India established under section 3 of the Act;
"certificate" means a certificate of registration granted to a foreign portfolio investor by the designated depository participant on behalf of the Board under these regulations;
“control” includes the right to appoint majority of the directors or to control the management or policy decisions exercisable by a person or persons acting individually or in concert, directly or indirectly, including by virtue of shareholding or management rights or shareholders agreements or voting agreements or in any other manner;
“custodian” means a person registered under the Securities and Exchange Board of India (Custodian) Regulations, 1996;
"designated bank" means a scheduled bank in India, which has been authorised by the Reserve Bank of India to act as a banker to foreign portfolio investors;
“designated depository participant” means a person who has been approved by the Board under Chapter III of these regulations;
“foreign portfolio investor” means a person who has been registered under Chapter II of these regulations and shall be deemed to be an intermediary in terms of the provisions of the Act;
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Source: SecMarx — Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.