Citi cuts India foreign portfolio investors’ registration to five days

The first phase covers the US, Ireland, and Luxembourg.

Citi has launched eFPI @ Citi in India, accelerating the registration process for foreign portfolio investors (FPIs) to five business days.

The process previously took anywhere between a few weeks to a few months, Citi said in an announcement on 11 September 2026.

The service is being rolled out in phases, with the first phase live and covering regulated public funds. This includes mutual funds and unit trusts from the United States, Ireland and Luxembourg.

Phase II will cover additional jurisdictions, such as Singapore, Canada, Australia, and the United Kingdom, Citi said.

Citi estimates that its Services business has oversight of approximately a third of the FPI assets under custody in India.

The service initiative will significantly minimize turnaround time and deliver a frictionless onboarding experience for new FPI clients, said Vijay Chandok, managing director and CEO of The National Securities Depositor Limited.