SEBI Eases KYC Rules For NRIs, OCIs; Overseas Investors Can Now Complete Onboarding Digitally

SEBI has eased KYC and onboarding requirements for NRIs, OCIs and foreign nationals, making it easier for eligible overseas investors to invest in Indian markets. Individuals residing in FATF-compliant countries can now complete digital onboarding without travelling to India. Nachiket Kelkar, Business Today, explains how the revised framework allows video-based verification, simplifies repeat KYC requirements and permits intermediaries to verify PAN details through the Income Tax database without insisting on physical copies. Overseas addresses will also be accepted as proof of address. The new norms are aimed at simplifying the investment process and will come into effect from December 3.