Welcome to Indian Market Access
FPI Onboarding Kit
A summary of documents and processes involved at one place
FPI Onboarding Kit
| Sr. No | Name of the documents / requirement | Document/s attached | Description of requirement | Category I FPI | Category II FPI |
|---|---|---|---|---|---|
| FPI Registration points | |||||
| 1 | Common Application form (CAF) | CAF | The Common Application Form shall act as a Single Window clearance wherein FPI applicants shall fill a single form (as prescribed by Govt. of India) in an electronic manner for the purpose of KYC and registration with SEBI, PAN from Income Tax Department and opening of demat account in India | Yes | Yes |
| 2 | Annexure to CAF | ANNEXURE TO COMMON APPLICATION | Additional Information/Declaration in CAF Annexures | Yes | Yes |
| 3 | SEBI FPI Registration (& PAN fees) | N.A. | Category I – USD 2950 (including 18% GST) Category II – USD 295 (including 18% GST) PAN Fees | Yes | Yes |
| 4 | Document for Legal Entity | Legal Entity Cover Letter for Legal Entity | Applicable where the applicant is not the Legal Entity by itself and does not have constitution documents in its own name. Below are required: 1. Cover Letter linking Legal Entity to the FPI applicant 2. Annexure A (KYC Form for LE – requirement may vary across custodians) 3. Formation Document of the Legal Entity | Yes | Yes |
| 5 | Declaration for additional disclosures | Additional Disclosures declaration.docx | Required by all FPIs (except Government and Government related investors) at the time of account opening | Yes | Yes |
| KYC related points | |||||
| 6 | Constitution Docs | N.A. | MoA, AoA, Prospectus, Offering Memorandum, Trust Deed, Partnership Deed, Certificate of Incorporation, etc. Additional documents may be obtained depending on the category/sub-category of the FPI | Yes | Yes |
| 7 | Regulatory Proof | N.A. | Link of the Website OR Regulatory Proof – Issued by the Local Regulator in case the information is not available online on the regulatory website for Category I applicants | Yes | Yes |
| 8 | Board Resolution and list of Authorised Signatories | N.A. | POA can be accepted in lieu of Board Resolution. List of signatories are required who execute the documents. | Yes | Yes |
| 9 | Power of Attorney | N.A. | To be executed by the applicant in favor of the India custodian which will enable the latter to undertake activities for the applicant | Yes | Yes |
| 10 | Legal Entity Identifier (LEI) | N.A. | To be shared | Yes | Yes |
| 11 | Entity Proof of Address | N.A. | Documents prescribed under Master Circular including Power of Attorney to be collected as address proof | Yes | Yes |
| 12 | Individuals Proof of Identity & Address | N.A. | Required for clients that meet the erstwhile Category III requirements as RBI has not yet reclassified the FPI categories as per SEBI. Since there is a difference in the KYC prescribed by SEBI and RBI, proof of address requirement may vary across custodians. | No | Yes |
| Tax related points | |||||
| 13 | PAN | N.A. | PAN application is part of CAF | Yes | Yes |
| 14 | Tax Consultant Details (CPA) | N.A. | Client to provide the name and contact details of the tax consultant appointed by them in India along with the authorization to share all trade, registration, KYC related information as and when required by the tax consultant. | Yes | Yes |
| 15 | FATCA/CRS | N.A. | Yes | Yes | |
| Trading codes | |||||
| 16 | Custodian Participant (CP) Code | N.A. | Required for listed equity – to be applied by the Custodian | Yes | Yes |
| 17 | CBRICS/ICDM | N.A. | Required for secondary market corporate bonds – FPI to instruct Custodian for applying | Yes | Yes |
| 18 | CORE ID | N.A. | Required for Government Bonds – FPI to instruct Custodian for applying | Yes | Yes |
| 19 | Unique Client Code (UCC) | N.A. | To be applied by the Custodian | Yes | Yes |