Investment managers, advisors or institutional portfolio managers in the NRI category would also be eligible to be registered as FIIs under similar conditions, the market regulator said in a statement.
FIIs have also been permitted to invest in collective investment schemes. These are schemes in which individuals and institutions come together to collectively invest in various instruments.
The regulator said to qualify as a sub-account, a foreign corporate must be listed abroad and must have assets of at least $2 billion. A track record of profits of at least $50 million in the three years preceding the application has also been mandated. Individuals who have not been Indian citizens and are seeking sub-account status must have a net worth of over $50 million.
