Sebi halves FII registration fee to $5,000

MUMBAI: In a bid to attract overseas investment in capital markets, Securities and Exchange Board of India has halved the registration fee for foreign institutional investors to $5,000 and simplified the application procedures.
The market regulator has amended the Foreign Institutional Investors Regulations, 1995 wherein FIIs would need to provide only a certified copy of the relevant clauses or Articles of the Memorandum and Articles of Association with the registration application, Sebi said in a notification on Thursday.
Earlier, an entire memorandum, articles and the investment management agreement or other agreement were required to be filed with the application.
Sebi, as part of the amendment, has done away with a condition to file copies of audited financial statements and annual reports for past five years and now an entity has to furnish statement and reports for past one year only.
After the present amendment, it would be sufficient for FIIs to make declaration about registration with the regulatory authority and self regulatory body, it added.
Similarly, a mere declaration that applicant has entered into an agreement with custodian would be sufficient. Earlier, they had to attach a copy of such agreement for the registration process.