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.