Key comparisons
|
Qualified Foreign Investors (QFI)
|
Foreign Institutional Investors (FII)
|
Foreign Portfolio Investors (FPI)
|
|
|---|---|---|---|
| Registration | No SEBI Registration | SEBI Registration | Registration through DDP |
| Access Fee | NO Access Fee | Access Fee every 3 Years | Access Fee every 3 Years |
| Order Placement | Through QDP | Directly to Broker | Directly to Broker |
| Permitted Investments | Equity, Government Bonds, Corporate Debt, MFs | Equity, Government Bonds, Corporate Debt, MFs, Listed equity derivatives, SLB, Interest Rate Futures, IDRs, | Same as FII (unlisted equity not permitted) |
| KYC | Uniform KYC | Uniform KYC | Risk Based KYC |
| Eligibility | All investor categories – Retail & Institutional
Investors from jurisdictions 1.FATF compliant, including GCC/EC member countries 2.Signatory to IOSCO MMOU / SEBI MOU |
Specified categories of institutional and retail investors
-FII to be regulated by Securities regulator that is signatory to IOSCO MMOU / SEBI MOU -One year track record prior for FII registration |
All investor categories
Investors from jurisdictions: 1.Not in FATF (high risk and non-compliant countries) 2.Signatory to IOSCO MMOU / SEBI MOU 3.For banks – central bank is member of BIS |