Investment by NRI/OCI/RI

Where NRIs , OCIs and RIs are investors/constituents in an FPI, following conditions apply :

• Contribution by single NRI or OCI or RI to be below 25%
• Aggregate contribution of NRIs, OCIs and RIs shall be below 50%
• NRIs, OCIs and RIs shall not be in control of the FPI—Control permissible if Investment Manager is registered as a non-investing Category I FPI
• Resident Indian individual is permitted to make investment only in global FPIs whose Indian exposure is less than 50% under the Liberalised Remittance Scheme LRS route of RBI.
• Indian Fund Managers can invest in FPIs, if FPI obtains approval as ‘eligible investment fund’ under the Indian tax laws

Note:
NRI- Non Resident Indian
OCI- Overseas Citizen of India
RI- Resident Indian