Application of registration as a foreign portfolio investor shall be made to designated depository participant in the FORM and supported by fee $ 3,000 and $300 as per Category I and II respectively specified in Part A of the Second Schedule. Such fees to be remitted for every block of 3 years, till the validity of its registration.
In India, there are altogether 17 designated depository participant precisely Axis Bank Limited, BNP Paribas, Citibank N.A., DBS Bank India Limited, HDFC Bank Limited, ICICI Bank Limited, Kotak Mahindra Bank Limited, Stock Holding Corporation of India Limited, Yes Bank Limited and so on. Designated Depository Participant is also govern and license by Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019.