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One who proposes to invest their proprietary funds or
on behalf of "broad based" funds or of foreign
corporates and individuals and belong to any of the
under given categories can be registered for FII:
À×ension Funds

ÀMutual Funds

ÀInvestment Trust

ÀInsurance or reinsurance companies

ÀEndowment Funds

ÀUniversity Funds
3 Foundations or Charitable Trusts or Charitable
Societies who propose
3 to invest on their own behalf, and

3 Asset Management Companies

3 Nominee Companies

3 Institutional ×ortfolio Managers

3 Trustees

3 ×ower of Attorney Holders

3 Bank
3 An application for registration has to be made in
Form A, the format of which is provided in the
SEBI(FII) Regulations, 1995 and submitted with
under mentioned documents in duplicate addressed
to SEBI as well as to Reserve Bank of India (RBI)
and sent to the following address within 10 to 12
days of receipt of application.
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The Division Chief
FII Division
Securities and Exchange Board of India,
224, Mittal Court, 'B' Wing, 1st Floor,
Nariman ×oint, Mumbai - 400 021.
INDIA.
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3 Application in m
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signatory of the applicant.
3 Certified copy of the relevant clauses or articles of
the Memorandum and Articles of Association or the
agreement authorizing the applicant to invest on
behalf of its clients
3 Audited financial statements and annual reports for
the last one year, provided that the period covered
shall not be less than twelve months.
3 A declaration by the applicant with registration
number and other particulars in support of its
registration or regulation by a Securities Commission
or Self Regulatory Organisation or any other
appropriate regulatory authority with whom the
applicant is registered in its home country.
3 A declaration by the applicant that it has entered into
a custodian agreement with a domestic custodian
together with particulars of the domestic custodian.
3 A signed declaration statement that appears at the
end of the Form.
3 Declaration regarding fit & proper entity.



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3 Applicant should have track record, professional
competence, financial soundness, experience, general
reputation of fairness and integrity;
3 The applicant should be regulated by an appropriate
foreign regulatory authority in the same
capacity/category where registration is sought from
SEBI. Registration with authorities, which are
responsible for incorporation, is not adequate to qualify
as Foreign Institutional Investor.
3 The applicant is required to have the permission
under the provisions of the FEMA Act, 1999 from
the Reserve Bank of India.
3 Applicant must be legally permitted to invest in
securities outside the country or its in-corporation /
establishment.
3 The applicant must be a "fit and proper" person.
3 The applicant has to appoint a local custodian and enter
into an agreement with the custodian. Besides it also has
to appoint a designated bank to route its transactions.
3 ×ayment of registration fee of US $ 5,000.00
 
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3 A Foreign Institutional Investor may invest only in the
following:-
(a) Securities in the primary and secondary markets
including shares, debentures and warrants of companies,
listed or to be listed on a recognised stock exchange
in India; and
(b) units of schemes floated by domestic mutual funds
including Unit Trust of India, whether listed on a
recognised stock exchange or not,
(c) Dated Government Securities;
(d) Derivatives traded on a recognised stock exchange;
(e) Commercial paper;
(f) Security receipts.
3 Where a foreign institutional investor or sub-
account holds equity shares in a company
whose shares are not listed on any recognised
stock exchange, and continues to hold such
shares after initial public offering and listing
thereof, such shares shall be subject to lock-in
for the same period, if any, as is applicable to
shares held by a foreign direct investor placed
in similar position, under the policy of the
Central Government relating to foreign direct
investment for the time being in force.
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3 A Foreign Institutional Investor or a global custodian
acting on behalf of the Foreign Institutional Investor
shall enter into an agreement with a domestic custodian
to act as custodian of securities for the Foreign
Institutional Investor.
3 The Foreign Institutional Investor shall ensure that the
domestic custodian takes steps for:
(a) Monitoring of investments of the Foreign Institutional
Investor in India;
(b) Reporting to the Board on a daily basis the
transactions entered into by the Foreign Institutional
Investor;
½c) ×reservation for five years of records relating to his
activities as a Foreign Institutional Investor; and
(d) Furnishing such information to the Board as may be
called for by the Board with regard to the activities of the
Foreign Institutional Investor and as may be relevant for
the purpose of this regulation.

3 A Foreign Institutional Investor may appoint more than

one domestic custodian with prior approval of the Board,
but only one custodian may be appointed for a single
sub-account of a Foreign Institutional Investor.
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3 A Foreign Institutional Investor shall appoint a branch

of a bank approved by the Reserve Bank of India for
opening of foreign currency denominated accounts and
special non-resident rupee accounts.
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3 Every Foreign Institutional Investor shall appoint a
compliance officer who shall be responsible
for monitoring the compliance of the Act, rules and
regulations, notifications, guidelines, instructions etc
issued by the Board or the Central Government.
3 The compliance officer shall immediately and
independently report to the Board any non-compliance
observed by him.