- within International Law, Environment and Criminal Law topic(s)
- with readers working within the Law Firm industries
SEBI, by way of the SEBI (Foreign Portfolio Investors) (Second Amendment) Regulations, 2025, dated December 1, 2025, has introduced the 'Single Window Automatic and Generalised Access for Trusted Foreign Investor' or 'SWAGAT‑FI' category under the SEBI (Foreign Portfolio Investors) Regulations, 2019 ('FPI Regulations'). SWAGAT‑FI has been defined to include Government and Government‑related investors and public retail funds, as defined in the FPI Regulations. The condition of having less than 50% aggregate contribution by Resident Indians/Overseas Citizens of India/Non-Resident Indians in the corpus of a Foreign Portfolio Investor ('FPI') will not be applicable for a SWAGAT-FI. Further, MFs registered with SEBI and retail schemes registered with the IFSCA are now permitted to be a constituent of an FPI applicant, subject to specific thresholds enumerated by SEBI. Separately, the fee schedule for a SWAGAT‑FIs has been relaxed, with all such SWAGAT-FIs required to pay renewal fees for every block of 10 years instead of three years.
Originally published 30 January 2026.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
