Eligible individual Persons Resident Outside India can now complete digital onboarding from abroad starting December 3, 2026. The new guidelines permit the verification of Permanent Account Numbers directly through the Income Tax Database without requiring physical presentation. Intermediaries are permitted to conduct Video In-Person Verification equipped with safeguards against virtual private networks and location spoofing. However, foreign nationals registering as Foreign Portfolio Investors remain governed by the earlier May 30, 2024 Master Circular framework.
Key points
Non-resident individuals in FATF-compliant nations no longer need to be physically presen…: Non-resident individuals in FATF-compliant nations no longer need to be physically present within India to undergo digital KYC procedures.
Customer KYC records are now portable across intermediaries even before KYC Registration…: Customer KYC records are now portable across intermediaries even before KYC Registration Agencies finish validating every single attribute.
The ultimate responsibility for compliance remains with the onboarding entity even when u…: The ultimate responsibility for compliance remains with the onboarding entity even when utilizing records from other regulated financial institutions.
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The Securities and Exchange Board of India (SEBI) has relaxed Know Your Client (KYC) requirements for Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs), and foreign nationals, allowing them to complete digital onboarding while residing overseas, subject to certain conditions.
In a circular dated November 4, 2026, the market regulator said individual Persons Resident Outside India (PROIs) located in countries compliant with the Financial Action Task Force (FATF) can submit their KYC information and supporting documents digitally to intermediaries.
The move removes the earlier requirement that clients must be physically present in India while completing digital KYC, which had effectively restricted investors residing overseas from completing the onboarding process remotely.
The revised framework will come into effect from December 3, 2026, or 30 days from the date of the circular. It will apply to the onboarding of individual PROI clients, except those residing in FATF non-compliant countries.
Intermediaries will collect the investor's PAN, passport, and OCI card, wherever applicable. PAN details will be verified against the Income Tax Database without requiring the original card or a physical copy.
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