Changes to NRI KYC Process: SEBI Introduces New Rules

The Securities and Exchange Board of India (SEBI) has eased the Know Your Customer (KYC) requirements for Non-Resident Indians (NRIs) and foreign investors who wish to invest in the Indian stock market. The digital onboarding facility is scheduled to become available from December 3. Eligible investors residing in countries that comply with Financial Action Task Force (FATF) requirements will be able to complete the KYC process without travelling to India.

Under the revised process, document verification will be carried out through Video In-Person Verification (VIPV). This facility is expected to make the account-opening and verification process more convenient for overseas investors. The move aims to reduce procedural difficulties and make investing in India's securities market more accessible to eligible NRIs and foreign investors.