Pursuant to the announcement made by Hon'ble Finance Minister in his Union Budget 2017-2018 speech and furthering its idea of improving ease of doing business in India, Govt. of India [Ministry of Finance ("DEA")] on January 27, 2020 has notified Common Application Form (CAF) for registration of Foreign Portfolio Investors ("FPI") with Securities and Exchange Board of India ("SEBI"), allotment of Permanent Account Number ("PAN") with Income Tax Department, Know Your Customer ("KYC") and for opening of bank and demat accounts in India. Common Application Form has replaced the various existing forms like FPI Registration Form A, KYC & Account opening form of bank account and Form 49 AA for obtaining PAN which are required to be filed by the foreign investor desirous of investing in India as an FPI.
As notified by Govt., the common application form will be available on the website of NSDL viz., FPI Monitor [https://www.fpi.nsdl.co.in] Accordingly, NSDL has developed the online platform for FPI applicants on the aforesaid NSDL website for submission of common application form to its Designated Depository Participant (DDP) in India. The Common Application Form shall act as a Single Window clearance wherein FPI applicants shall fill a single form (as prescribed by Govt. of India) in an electronic manner and obtain registration with SEBI, PAN from Income Tax Department, KYC and Open bank and demat account in India.