ELIGIBILITY CRITERIA  OF  FOREIGN PORTFOLIO INVESTORS :

An applicant desirous of foreign portfolio investor registration should, inter alia, satisfy the following conditions:

– It should not be resident in India or a Non-Resident Indian.

– It should be a resident of a country:-

– whose securities market regulator is a signatory to IOSCO’s Multilateral MOU or a signatory to a bilateral MOU with SEBI;

– whose central bank is a member of the Bank for International Settlements;

– against whom the Financial Action Task Force (FATF) has not issued any warnings

– It should legally be permitted to invest in securities outside the country of its incorporation or establishment or place of business.

– It should be authorised by its Memorandum of Association and Articles of Association or equivalent  document(s) or the agreement to invest on its own behalf or on behalf of its clients.

– It must be a fit and proper person as prescribed.

– the applicant has sufficient experience, good track record, is professionally competent, financially sound and has a generally good reputation of fairness and integrity;

– the grant of certificate to the applicant is in the interest of the development of the securities market;