SEBI Introduces SWAGAT-FI Framework for Trusted Foreign Investors
The Securities and Exchange Board of India (SEBI) issued a circular introducing the “Single Window Automatic and Generalised Access for Trusted Foreign Investors” (SWAGAT-FI) framework to simplify onboarding and ongoing compliance requirements for eligible low-risk foreign investors such as government-related investors, regulated retail mutual funds, insurance companies and pension funds. The framework permits eligible FPIs to convert into SWAGAT-FI FPIs, provides a unified investment and accounting mechanism across FPI, FVCI and investment vehicle routes, extends FPI registration validity from 3 years to 10 years, and increases the periodicity of KYC review to once every 10 years. SEBI also clarified investment conditions for resident Indian contributions through the Liberalised Remittance Scheme (LRS). The circular was issued on 16 January 2026, while the provisions of the SWAGAT-FI framework will come into force with effect from 1 June 2026.
