Foreign investors registered with Sebi as Qualified Foreign Investors would be exempted from any fee for converting themselves into FPIs, a unified structure for all overseas entities investing in the Indian markets.
All existing Foreign Institutional Investors (FIIs) and their sub-accounts are required to pay USD 1,000 to obtain registration certificate to act as an FPI. While FII structure has been in place since 1991, Sebi had introduced the concept of QFIs for select overseas investors in August 2011.
As per the Regulations only FII or sub-accounts are required to pay the conversion fees of USD 1000 on or before the expiry of their registration. QFIs are not required to pay any conversion fees in terms of the Regulations,” the Securities and Exchange Board of India (Sebi) said in its latest update.
