New Delhi : The government has introduced a single application form for foreign investors to enter into the domestic capital market as part of the exercise to improve ease of doing business. Earlier, foreign portfolio investors (FPIs) had to file a separate form to register themselves with the market regulator Sebi.
Besides, they had to approach bank for opening bank account, income tax department for PAN (Permanent Account Number) and market intermediaries for demat account. The long-pending single combined application form for registration of FPIs with the Sebi, allotment of PAN and know your customer (KYC) for opening bank and demat account is expected to reduce time and cost for the foreign investors.
The common application form was prepared jointly by Sebi, Reserve Bank of India and Central Board of Direct Taxes (CBDT).
