SEBI, through Circular No. HO/19/34/14(8)2026-AFD-POD2/ I/19251/2026 dated August 20, 2026, has permitted Foreign Portfolio Investors (FPIs) to submit a digitally signed Power of Attorney (PoA) to Custodians in accordance with the Information Technology Act, 2000. The measure modifies Para 9(B)(iv) of Part B of the FPI Master Circular and forms part of SEBI’s efforts to digitalise and streamline the FPI onboarding process. The existing FPI KYC framework had specified a PoA given by an FPI to Custodians specifying the address as a document for proof of address, with the PoA duly notarized, apostilled or consularised. The revised provision also permits such PoA to be executed using a digital signature in accordance with the Information Technology Act, 2000. SEBI stated that this eliminates the need for notarisation, apostillisation or consularisation of the PoA, thereby reducing the time required for FPI onboarding and improving ease of doing business. The circular takes effect from August 20, 2026 and has been issued under Section 11(1) of the SEBI Act, 1992 read with Regulation 44 of the SEBI (Foreign Portfolio Investors) Regulations, 2019. The change builds on SEBI’s earlier digitalisation measures for FPI registration and KYC requirements.
Securities and Exchange Board of India
PR No. 49/2026
Ease of onboarding for FPIs – Acceptance of digitally signed Power of Attorney
Towards SEBI’s continued digitalisation efforts, FPIs are now permitted to execute a Power of Attorney (PoA) through digital signatures in accordance with the Information Technology Act, 2000.
During interactions with foreign investors, it has been highlighted that notarisation and apostillisation of PoA takes considerable time. Digitally signed PoA is envisaged to bring down the time taken in onboarding considerably as it eliminates the need for notarisation, apostillisation or consularisation of PoA.
The above measure forms part of SEBI’s broader endeavour to leverage technology and provide a seamless, transparent and investor-friendly onboarding ecosystem for FPIs. By reducing physical documentation and procedural requirements and enabling greater use of digital processes, SEBI aims to further reduce the overall time taken for FPI onboarding.
The provisions of this circular comes into effect from August 20, 2026.
The circular issued today can be accessed on the SEBI website www.sebi.gov.in under the link Legal -> Circulars.
Mumbai
August 20, 2026
Securities and Exchange Board of India
Circular No. HO/19/34/14(8)2026-AFD-POD2/ I/19251/2026 | Dated: August 20, 2026
To,
1. All Foreign Portfolio Investors (FPIs)
2. All Designated Depository Participants (DDPs) and Custodians
3. All Registrars to an Issue and Share Transfer Agents
4. All Depositories
5. All recognized Stock Exchanges and Clearing Corporations
6. All Intermediaries registered with SEBI under Section 12 of the Securities and Exchange Board of India Act, 1992
Dear Sir / Madam,
Subject: Acceptance of digitally signed Power of Attorney from FPIs
1. SEBI vide “Master Circular for Foreign Portfolio Investors, Designated Depository Participants and Eligible Foreign Investors” No. SEBI/HO/AFD/AFD-PoD2/P/CIR/P/2024/70 dated May 30, 2024 as amended from time to time (hereinafter referred to as the ‘FPI Master Circular’) has, inter alia, specified the KYC requirements for FPIs and the list of supporting documents admissible as Proof of Address.
2. SEBI, over the years, has taken various measures to streamline and digitalise the FPI registration process including introduction of Common Application Form (CAF) for the purpose of registration, PAN, bank and demat accounts, permitting the use of Indian digital signatures for executing CAF and other registration documents, facilitating seamless digital signature functionality within the CAF portal and grant of registration based on scanned copies.
3. As part of SEBI’s continued efforts to digitalise the FPI onboarding process, it has now been decided to permit accepting a Power of Attorney digitally signed by FPIs in accordance with the provisions of Information Technology Act, 2000.
4. This eliminates the need for notarisation, apostillisation or consularisation of Power of Attorney, thereby reducing the overall time taken for FPI onboarding and improving ease of doing business for FPI applicants.
Accordingly, Para 9 (B)(iv) of Part B of the FPI Master Circular stands modified as follows:
(iv). “Power of Attorney given by FPI to Custodians specifying the address (duly notarized and/or apostilled or consularised), or
Power of Attorney given by FPI to Custodians specifying the address, executed using digital signature in accordance with the provisions of Information Technology Act, 2000.”
5. The provisions of this circular shall come into force with effect from August 20, 2026.
6. This Circular is issued in exercise of the powers conferred under Section 11(1) of the Securities and Exchange Board of India Act, 1992 read with Regulation 44 of SEBI (Foreign Portfolio Investors) Regulations, 2019 to protect the interest of investors in securities and to promote the development of, and to regulate the securities market.
7. This Circular is available at sebi.gov.in under the link “Legal —Circulars”.
Yours faithfully,
Siddharth K Dachalwal
Deputy General Manager
Tel No.: 022-2644 9123
Email ID: [email protected]
