Sebi unlocks digital POAs for FPIs, waives notarisation & apostillisation
Sebi’s FPI Grasp Round specifies the KYC necessities for FPIs and the record of supporting paperwork admissible as proof of tackle. Over time, the regulator has taken a number of measures to streamline and digitalise the FPI registration course of. These embrace the introduction of the Frequent Software Kind (CAF) for registration, PAN, financial institution and demat accounts; allowing using Indian digital signatures for executing CAF and different registration paperwork; facilitating digital signature performance inside the CAF portal; and granting registration based mostly on scanned copies.
The newest determination extends the digitalisation of the onboarding course of to Energy of Legal professional paperwork submitted by FPIs to custodians. The digitally signed POA will probably be accepted when executed in accordance with the provisions of the Data Know-how Act, 2000.
“As a part of Sebi’s continued efforts to digitalise the FPI onboarding course of, it has now been determined to allow accepting a Energy of Legal professional digitally signed by FPIs in accordance with the provisions of Data Know-how Act, 2000,” Sebi stated within the round.
In accordance with the regulator, the transfer eliminates the necessity for notarisation, apostillisation or consularisation of the POA. Sebi stated it will scale back the general time taken for FPI onboarding and enhance ease of doing enterprise for FPI candidates.
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Accordingly, a POA given by an FPI to custodians specifying the tackle can now both be duly notarised and/or apostilled or consularised, or be executed utilizing a digital signature in accordance with the provisions of the Data Know-how Act, 2000.
The provisions of the round got here into pressure with impact from August 20, 2026.
