The relaxed framework permits non-resident Indians, overseas citizens, and foreign nationals in FATF-compliant nations to complete their verification entirely online. Previously, investors living abroad had to navigate burdensome paper trails, including securing attestations from notaries or Indian embassies and mailing physical documents. Zerodha CEO Nithin Kamath noted that these reforms will compress a process that once dragged on for weeks into just two to three days.
Key points
Eligible overseas investors will no longer need to travel to India to finish digital onbo…: Eligible overseas investors will no longer need to travel to India to finish digital onboarding.
Streamlined digital verification is expected to shorten account opening timelines to two…: Streamlined digital verification is expected to shorten account opening timelines to two or three days.
The relaxed onboarding rules exclude individuals who are residing in jurisdictions that f…: The relaxed onboarding rules exclude individuals who are residing in jurisdictions that fail to comply with FATF standards.
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Zerodha founder and CEO Nithin Kamath has welcomed the Securities and Exchange Board of India's (SEBI) decision to ease digital Know Your Client (KYC) requirements for Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs), and foreign nationals, saying the move will simplify account opening for overseas investors and help attract more long-term capital into India.
"In August, I'd written about SEBI's proposal to simplify account opening for NRIs. Good to see that the changes have now been finalised," Kamath said in a post on X.
He said account opening had been one of the biggest hurdles for NRIs wanting to invest in India for years. While those with existing KYC could open accounts digitally, anyone abroad needing fresh KYC had to get documents attested by a notary or the Indian embassy, courier physical copies to India, and wait weeks for the account to open.
"From December 3, NRIs and OCIs living in FATF-compliant countries will be able to complete digital KYC entirely from abroad. Something that took weeks can now be done in 2–3 days," Kamath said.
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