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SEBI eases KYC rules for NRIs, OCIs; digital onboarding allowed from December 3

Upstox
By Upstox News Desk

2 min read | Updated on November 05, 2026, 13:26 IST

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SUMMARY

Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs) and foreign nationals will soon be able to complete their Know Your Client (KYC) process digitally while residing overseas, subject to certain conditions.

SEBI eases KYC rules for NRIs, OCIs

The revised framework will take effect from December 3, 2026. | Image: Shutterstock.

The Securities and Exchange Board of India (SEBI), through a circular dated November 4, 2026, has relaxed KYC requirements for individual Persons Resident Outside India (PROIs) located in Financial Action Task Force (FATF)-compliant countries. The revised framework will come into effect from December 3, 2026.

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Explaining the move, SEBI said, "In order to ease the process of on-boarding an individual Person Resident Outside India (PROI) client, it has been decided to review the existing provisions governing the KYC process."

What changes under SEBI's revised KYC rules?

Digital KYC from overseas: Earlier, clients had to be physically present in India during digital onboarding. SEBI has now relaxed this requirement for eligible overseas clients.

The regulator said, "The requirement of a client being in India during digital on-boarding is being relaxed for an individual PROI client located in a Financial Action Task Force (FATF) compliant country and the intermediary may accept digital submission of KYC information and supporting documents from such client."

KYC records become portable: KYC records can now be shared across intermediaries, even if every individual detail has not been validated.

SEBI said, "All KYC records shall be portable i.e. can be shared with another intermediary, irrespective of every individual attribute being validated or not."

Existing KYC records can be reused: Intermediaries can rely on KYC undertaken by another SEBI-registered intermediary or an entity regulated by another financial sector regulator, based on records available with KRAs or CKYCRR.

However, SEBI clarified, "The intermediary shall have the ultimate responsibility for the KYC of its clients, including undertaking enhanced due diligence appropriate to the risk profile of the clients."

Simplified documentation and video verification: Intermediaries can collect KYC forms and specimen signatures digitally, subject to prescribed verification requirements. Where physical In-Person Verification (IPV) is not feasible, Video In Person Verification (VIPV) is permitted.

SEBI said, "The authorised official of the intermediary shall be present during Video In Person Verification of a client and the VIPV process shall be subject to concurrent audit."

Three-day KYC submission deadline: Intermediaries must submit the client's KYC information to the KRA within three working days of completing the process.

When will the new rules apply?

The revised framework will take effect from December 3, 2026. It will also apply to re-KYC of clients residing in FATF-compliant countries.

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Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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