Beneficial Owner

In a relief to FPIs, markets regulator SEBI has extended the deadline by 2 Months till 31st December, 2018 for providing a list of Beneficial Owners and assured them that issues raised will be looked into by an expert panel.

Beneficial Owner (BO) is a natural person, who ultimately owns or controls an FPI.

The Regulators in April had asked Category II and Category III Foreign Portfolio Investors (FPIs) to provide a list of their Beneficial Owner (BO) in a prescribed format within 6 Months.

Under the Regime, FPIs have been divided into 3 Categories as per their risk profile and the KYC (Know Your Client) requirements, while other registration procedures have been made simpler for them.

Further, SEBI had also asked FPIs to disclose the name and address of the Beneficial Owner, whether they are acting alone or through one or more natural persons as a group, tax residency jurisdiction, BO group’s percentage shareholding capital or profit ownership in the FPIs.

Click Here to read the SEBI Circular