Overview

• The consultation paper introduces SWAGAT-FI to streamline registration and ongoing compliance for pre-vetted investors such as sovereign wealth funds, central banks and insurance and pension funds.
• SWAGAT-FI offers an optional dual registration pathway allowing eligible investors to register as both Foreign Portfolio Investors and Foreign Venture Capital Investors without additional documentation.
• The proposal extends the validity of registration and KYC reviews to 10 years, up from the current three- to five-year cycle, to reduce recurring compliance burdens.
• Optional features include the use of a single demat account with tagged holdings and the removal of the 50% cap on contributions by NRIs, OCIs and Indian resident individuals.
• SEBI is inviting public comments on the SWAGAT-FI proposals through August 29 as part of its stakeholder consultation process.