SEBI digital KYC for NRIs could let eligible NRIs, OCIs and foreign nationals complete securities-market onboarding from abroad. The proposal adds video, location and anti-spoofing checks, makes PROI KYC records portable and seeks comments by September 4, 2026.
SEBI digital KYC proposal expands overseas access
The Securities and Exchange Board of India (SEBI) has proposed allowing eligible Non-Resident Indians (NRIs), Overseas Citizens of India (OCIs) and foreign nationals to complete digital Know Your Client verification for India’s securities market while living abroad. SEBI describes these investors as individual Persons Resident Outside India, or PROIs.
The proposal would allow eligible PROIs in Financial Action Task Force-compliant countries to complete securities-market digital onboarding without being physically present in India. Individuals seeking registration as Foreign Portfolio Investors would continue under the separate FPI framework.
Video KYC safeguards would verify identity and location
SEBI-registered intermediaries could accept KYC forms and officially valid documents digitally under the proposed framework. Video-based in-person verification would remain subject to safeguards designed to verify the applicant and the location from which onboarding takes place.
The proposed controls include live GPS coordinates, checks against spoofed IP addresses, face-liveness verification, authorized-official supervision and concurrent audits. The client's location would also have to correspond with an eligible FATF-compliant country and the country stated in the KYC records.
Portable KYC records could reduce repeat checks
SEBI has also proposed greater portability of PROI KYC records across securities-market intermediaries. KYC Registration Agencies could share verified records and tag attributes as validated when they have been checked against relevant official or source databases.
The consultation also asks whether a PROI should be permitted to self-declare a current address when the submitted officially valid document can be verified through an official or source database.
Public comments open until September 4
SEBI issued the consultation on August 14, 2026, and has asked for comments and suggestions by September 4, 2026. The changes remain proposals rather than final KYC rules, so the existing framework continues unless SEBI formally adopts and implements a revised system.
