To make it easier to do business, markets regulator Sebi today said it has introduced a paperless online mechanism for registration of Foreign Venture Capital Investors (FVCI). The new system would help make it easier for FVCI to complete their registration and other regulatory filings with Sebi much faster and in a cost-effective way. “All applicants desirous of seeking registration as a FVCI are now required to submit their applications online only, through Sebi intermediary portal. “Furthermore, all Sebi registered FVCIs are now required to file their compliance reports and submit applications for any request under the provisions of FVCI Regulations, through the online system only,” the regulator said in a circular.
Besides, existing registered FVCIs have been asked to activate their online accounts. The Securities and Exchange Board of India (Sebi) has operationalised the portal for such investors to submit all the registration applications online from July 1. FVCIs are investors incorporated and established outside India and invest primarily in venture capital undertakings in India either directly or through venture capital funds or alternative investment funds (AIFs).