SEBI Notifies Foreign Portfolio Investors (Amendment) Regulations, 2026

Regulatory Update

The Securities and Exchange Board of India (SEBI), vide Notification No. SEBI/LAD-NRO/GN/2026/310 dated July 03, 2026, has notified the Securities and Exchange Board of India (Foreign Portfolio Investors) (Amendment) Regulations, 2026, further amending the SEBI (Foreign Portfolio Investors) Regulations, 2019. The amendments primarily shift various fee and charge provisions from US Dollar denominations to Indian Rupee equivalents, along with certain structural and procedural changes.

Statutory Basis

These regulations have been notified in exercise of powers conferred under Section 30(1) read with Section 11(1), Section 11(2)(ba), Section 12(1) and Section 12(1A) of the Securities and Exchange Board of India Act, 1992, and Section 25 of the Depositories Act, 1996.

Commencement

The regulations shall come into force on the one hundred eightieth day from the date of their publication in the Official Gazette, except sub-regulation III of Regulation 3, which came into force with immediate effect upon publication.

Key Amendments

1. Regulation 3(2) — Omission of Fee Reference

The words "the fee specified in Part A of the Second Schedule and" have been omitted from Regulation 3(2).

2. Regulation 43B(2) — Revision of Fee

The fee prescribed under Regulation 43B(2) has been revised from US $1000 to Rs. 90,000 in eligible foreign exchange equivalent.

3. First Schedule — Insertion of New Paragraph IV

Paragraphs IV and V of the First Schedule have been renumbered as V and VI respectively. A new Paragraph IV has been inserted, requiring disclosure of the Date of Birth/Incorporation/Agreement/Partnership or Trust Deed/Formation of Body of Individuals or Association of Persons of the Foreign Portfolio Investor.

4. Second Schedule, Part A — Clause (1)

• The fees of US $2500 and US $250 have been revised to Rs. 2,30,000 and Rs. 23,000 in eligible foreign exchange equivalent, respectively.
• The timeline for payment has been changed from "at the time of submission of the Form" to "prior to the grant of certificate of registration."

5. Second Schedule, Part A — Clause (4)

Under the first proviso:

• US $50 has been revised to Rs. 4,500 in eligible foreign exchange equivalent.
• US $5 has been revised to Rs. 500 in eligible foreign exchange equivalent.

6. Second Schedule, Part A — Clause (5) (Substituted)

Every Designated Depository Participant (DDP) shall remit fees collected from Foreign Portfolio Investors, in INR, to the Board as follows:

Scenario	Timeline
Initial registration	Within 5 working days from the date of grant of certificate of registration, along with prescribed details
Fees for subsequent blocks after registration, or late fees	Within 5 working days from the date of receipt of such fees by the DDP, along with prescribed details

7. Second Schedule, Part C — Clause (1)

The fee of US $800 payable in respect of each subscriber to an offshore derivative instrument (ODI) issued has been revised to Rs. 75,000 in eligible foreign exchange equivalent.

Key Takeaway

FPIs and Designated Depository Participants should update their internal fee computation, registration form processes, and remittance workflows to align with the revised INR-denominated fee structure and the new documentation and timeline requirements, well ahead of the effective date falling on the 180th day from Gazette publication.