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TMI BlogEligibility criteria of foreign portfolio investorX X X X Extracts X X X X X X X X Extracts X X X X ..... A Signatories) or a signatory to bilateral Memorandum of Understanding with the Board: [Provided that an applicant falling under Category I foreign portfolio investor, as defined in clause (a) of Regulation 5, shall be considered as eligible for registration, if the applicant is a resident in a country as may be approved by the Government of India.] 1 (c) the applicant being a bank, is a resident of a country whose central bank is a member of Bank for International Settlements; (d) the applicant is not resident in a country identified in the public statement of Financial Action Task Force as: (i) a jurisdiction having a strategic Anti-Money Laundering or Combating the Financing of Terrorism deficiencies to which counter measures apply; or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ard of India (Mutual Funds) Regulations , 1996, or is controlled by an Investment Manager which is controlled and/or owned by non-resident Indian or overseas citizen of India or resident Indian if the following conditions are satisfied: I. such Investment Manager is appropriately regulated in its home jurisdiction and registered with the Board as a non-investing foreign portfolio investor, or II. such Investment Manager is incorporated or setup under the Indian laws and appropriately registered with the Board . Nothing contained in clause (ea) shall apply to non-investing foreign portfolio investor or if the applicant or an existing foreign portfolio investor proposes to invest or invests only in units of schemes floated by mutual funds in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per person based on the criteria specified in Schedule II of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008; and (k) any other criteria specified by the Board from time to time. 2 [Provided that, in respect of a Category I or Category II foreign portfolio investor, as defined in clause (a) or clause (b) of Regulation 5, clauses (f), (g) (h)and (i) of this regulation shall not be applicable.] 5 [ (2)(1) An applicant or an existing foreign portfolio investor shall comply with clause (ea) of sub-regulation (1) within a period of two years from the date of coming into force of this regulation or from the date of registration, whichever is later. (2) An existing foreign portfolio investor shall comply with clause ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent in India shall have the same meaning assigned to the term person resident in India under the Foreign Exchange Management Act, 1999. ] (iv) Bilateral Memorandum of Understanding with the Board shall mean a bilateral Memorandum of Understanding between the Board and the overseas regulator that, inter alia, provides for information sharing arrangements under clause (ib) of sub section (2) of Section 11 of the Act. ************** NOTES:- 1 Inserted by the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2018, w.e.f. 05-04-2018. 2 Inserted by the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2018, w.e.f. 05-04-2018. 3. Inserted vide Notification No. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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