The sub account can be opened either by a Foreign Company or a Foreigner individual. The sub account is generally the underlying fund of individual or corporate investors on whose behalf the FII makes the investment. The eligibility conditions for opening sub-accounts include:
• The applicant may be an institution or fund or portfolio established or incorporated outside India and proposes to make investment in India;
• The applicant may be a broad based fund or proprietary fund or a foreign institutional investor or a foreign corporate or foreign individual;
• The Foreign Institutional Investor through whom the application for registration is made to the Board holds a certificate of registration as Foreign Institutional Investor.
• The fee for opening a sub-account is 1000 USD.
A non-resident Indian or an overseas corporate body registered with Reserve Bank of India should not be eligible to invest as sub-account or as foreign institutional investor.
