This will significantly reduce the processing timelines and greatly enhance operational flexibility and ease of access of FPIs
to Indian capital markets, he added.
The applicants seeking FPI registration need to fill the common form prescribed by the regulator, declaration providing supporting documents and applicable fees for registration and issuance of PAN.
With regard to additional information, Sebi said Category-I FPIs
(most well-regulated ones) have to apply for separate registration for the purposes of hedging the offshore derivative instruments with derivatives as underlying in India as well as details of eligible Category-I entity.
Besides, information regarding 'Ultimate Beneficial Owner' for each fund that invests in India needs to be disclosed and entities required to declare that they are not a bank or a subsidiary of a bank.