Eligibility criteria of foreign portfolio investor

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....of the applicant ^5[subject to the following conditions: i. the contribution of a single non-resident Indian or overseas citizen of India or resident Indian individual shall be below twenty-five percent of the total contribution in the corpus of the applicant; ii. the aggregate contribution of non-resident Indians, overseas citizens of India and resident Indian individuals in the corpus of the applicant shall be below fifty percent of the total contribution in the corpus of the applicant; iii. the contribution of resident Indian individuals shall be made through the Liberalised Remittance Scheme notified by the Reserve Bank of India and shall be in global funds whose Indian exposure is less than fifty percent; ....

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....amely - i. the applicant is an Alternative Investment Fund ^10[or a Retail Scheme] setup in the International Financial Services Centres and regulated by the International Financial Services Centres Authority; ii. such resident Indian, other than individuals, is a ^11[fund management entity or its associate] of the applicant; and iii. the contribution of such resident Indian, other than individuals, shall be up to- a. ^12[10% of the corpus of the applicant in case the applicant is an Alternative Investment Fund; or] b. ^13[10% of the Assets under Management in case the applicant is a Retail scheme;]] ^14[Explanation - 'fund management entity' and 'associate' shall have the meaning a....

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....ank is a resident of a country whose central bank is a member of Bank for International Settlements: Provided that a central bank applicant need not be a member of Bank for International Settlements; (f) the applicant or its underlying investors contributing ^4[more than the threshold prescribed under sub-rule (3) of rule 9 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005] in the corpus of the applicant or identified on the basis of control, shall not be the person(s) mentioned in the Sanctions List notified from time to time by the United Nations Security Council and is not a resident in the country identified in the public statement of Financial Action Task Force as - (i) a jurisdiction....

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....on No. SEBI/LAD-NRO/GN/2024/185 dated 26-06-2024 before it was read as, "provided they meet the conditions specified by the Board from time to time:" 6.  Inserted vide Notification No. SEBI/LAD-NRO/GN/2024/185 dated 26-06-2024 7.  Inserted vide F. No. SEBI/LAD-NRO/GN/2025/254 dated 11-08-2025 (shall come into force on the one hundred eightieth day from the date of publication of these regulations in the Official Gazette) 8. Inserted vide F. No. SEBI/LAD-NRO/GN/2025/254 dated 11-08-2025 (shall come into force on the one hundred eightieth day from the date of publication of these regulations in the Official Gazette) 9.  Inserted vide Notification No. SEBI/LAD-N....