REGISTRATION OF FOREIGN PORTFOLIO INVESTORS :

Any person shall not buy, sell or otherwise deal in securities as a foreign portfolio investor unless it has obtained a certificate granted by the designated depository participant on behalf of SEBI. Further that a qualified foreign investor may continue to buy, sell or otherwise deal in securities subject to the provisions of these regulations, for a period of one year from the date of commencement of these regulations, or until he obtains a certificate of registration as foreign portfolio investor, whichever is earlier.

An application for the grant of certificate as foreign portfolio investor shall be made to the designated depository participant in such form and such fees as prescribed in the regulations.

Can the existing Foreign Institutional Investors (FIIs)/Sub Accounts (SA) continue to buy, sell or deal in securities till the expiry of their current registration without payment of conversion fees during the validity of their registration?   Yes, The existing FIIs/SAs may continue to buy, sell or deal in securities till the expiry of their current registration. Such FII/SAs shall be required to pay conversion fees on or before the expiry of their current registration. At the time of conversion, the FII must return the certificate of registration in original to theDDP