The Securities and Exchange Board of India (SEBI) has revised compliance requirements for foreign portfolio investors (FPIs), lengthening know your customer (KYC) review intervals and removing a separate confirmation requirement at registration continuance. Reviews currently required annually will move to every two years, while those required every three years will move to every eight years, depending on the applicable investor category and other criteria. The separate confirmation regarding changes to previously submitted information at registration continuance will be discontinued. These changes take effect December 1, 2026. The KYC review cycle of 10 years will remain unchanged for FPIs under the Single Window Automatic and Generalised Access for Trusted Foreign Investors (SWAGAT-FI) framework, which took effect June 1, 2026 to simplify access and recurring compliance for eligible foreign investors. Existing relaxations for GS-FPIs will also remain unchanged.
SEBI extends foreign portfolio investor KYC review intervals to two or eight years
The Securities and Exchange Board of India will lengthen foreign portfolio investor know your customer review intervals from one to two years and from three to eight years. It will also remove the separate confirmation regarding information changes at registration continuance. Both changes take effect December 1, 2026, while the existing SWAGAT-FI review cycle of 10 years and GS-FPI relaxations remain unchanged.