KYC Registration Agency (KRA)

A SEBI registered entity wishing to register for the KRA services can communicate his interest on email. The compliance officer of the intermediary is provided with the login ID, the POS code and the password to enable access to the CVL-KRA system (www.cvlkra.com) for online registration.

Upon logging in, the compliance officer needs to UPDATE COMPANY INFORMATION and fill up rest of the registration form. For access to CVL KRA, the Registration Form and the supporting documents should be submitted (in person or by post/courier) to CVL at the address mentioned below.

CDSL Ventures Limited
I-202, 2nd Floor (Deck Level)
Tower No.4, Above Belapur Railway Station
Belapur, Navi Mumbai - 400614

Following supporting documents (certified by the Designated/Whole Time Director(s)/Company Secretary along with seal/stamp of the Intermediary) need to be submitted to CDSL Ventures Limited (CVL) to confirm registration:

1. Copy of SEBI Registration Certificate.
2. Copy of PAN Card.
3. Name(s) of Designated/Whole Time Director(s)/Company Secretary along with their designation, Director Identification Number (DIN)/PAN and signature(s) on the letterhead of the Intermediary.
4. Copy of the latest Balance Sheet.
5. Duly signed copy of Terms and Conditions.

The envelope containing the documents should be superscribed “REGISTRATION OF INTERMEDIARY WITH CVL-KRA” in block letters above CDSL Ventures Limited address. The envelope should also mention the details of the Intermediary including name, address and phone numbers either on the front or back of the envelope.

Detailed Registration process, Terms and Conditions, and Application Form can be found here - http://www.cvlkra.com/Downloads/CVLKRA_Operating_Instructions.zip

Upon submitting the form, the CVL KRA access shall be enabled within a period of 21 days (or for any such period as may be decided by CVL-KRA) from the date of creation.

Once the access is enabled, the POS code and user credentials are issued to the intermediary. Using the credentials, the intermediary can perform ‘create KYC’ and ‘fetch KYC’ activities in the system.

1. Entity/Client should fill-up the mandated KYC form when he has agreed to join/establish a business relationship with an intermediary. All the relevant forms can be found here - http://www.cvlkra.com/Downloads/CVLKRA_Application_Forms.zip
2. Self-certified copy of Proof of Identity (POI) and Proof of Address (POA) (along with other documents as specified by SEBI in respect of non-individual entities) need to be submitted along with the Form.
3. In case the details are not complete/or are different from the details submitted by the client the Intermediary would update the same in the KRA system and submit self-certified copies of supporting KYC documents where applicable.
4. IPV (In-Person-Verification) shall be carried out by the Intermediary.
5. On ensuring completeness of the documents, the Intermediary shall record the details from the KYC form in the KRA system for further verification by KRA.

1. POI
   • Unique Identification Number (UID) (Aadhaar) Passport/Voter ID card/driving license.
   • PAN card with photograph.
   • Identity card/document with applicant’s Photo, issued by any of the following: Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions.
   • Colleges affiliated to Universities, Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council, etc., to their Members, Credit cards/Debit cards with photographs issued by Banks.
   • Proprietor - In case of sole proprietors, sole proprietor must make the application in his individual name and capacity. The requirements remain the same as in case of Individual.
   • Non-Resident Indian: Submission of passport copy with relevant details is mandatory. Also in case of NRI, overseas address is mandatory.
   • In case of Merchant Navy NRIs, Mariner’s declaration or certified copy of CDC (Continuous Discharge Certificate) is to be obtained.


2. POA
   • Passport/Voters Identity Card/Ration Card/Registered Lease or Sale Agreement of Residence/Driving License/Flat Maintenance bill/Insurance Copy.
   • Utility bills like Telephone Bill (only land line), Electricity bill or Gas bill - Not more than 3 months old.
   • Bank Account Statement/Passbook - Not more than 3 months old.
   • Self-declaration by High Court and Supreme Court judges, giving the new address in respect of their own accounts.
   • Proof of Address issued by any of the following: Bank Managers of Scheduled Commercial Banks/Scheduled Co-operative Bank/Multinational Foreign Banks/Gazetted Officer/Notary Public/Elected representatives to the Legislative Assembly/Parliament/Documents issued by any Govt. or Statutory Authority
   • Identity card/document with address, issued by any of the following: Central/State Government and its Departments, Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled Commercial Banks, Public Financial Institutions, Colleges affiliated to Universities, and Professional Bodies such as ICAI, ICWAI, ICSI, Bar Council etc., to their Members.
   • For FII/sub account, Power of Attorney given by FII/sub-account to the Custodians (which are duly notarized and/or apostiled or consularised) that gives the registered address should be taken.
   • The proof of address in the name of the spouse may be accepted.

NON-INDIVIDUAL DOCKET SET

1. DOCUMENTS REQURIED FOR CORPORATE
   • Application For Non Individual;
   • PAN copy in the name of Applicant;
   • Address Proof (the registered office and the principal place of its business, if it is different);
   • Copy of Balance sheet for last 2 years Financial years;
   • Copy of latest Share holding Pattern including list of all those holding control, either directly or indirectly, in the company in terms of SEBI takeover Regulations, duly certified by the company secretary/Whole time director/MD (to be submitted every year);
   • Copy of Memorandum and Article of Association and certificate of Incorporation;
   • Copy of Board Resolution from the Board of Directors, power of attorney granted to its managers, officers or employees to transact on its behalf/ for investment in securities market;
   • Authorised Signatory List with specimen Signatures;
   • Annexure page with all details of the Directors;
   • Photograph, POI, POA, PAN and DIN numbers of whole time directors/two directors in charge of day to day operations;
   • Photograph, POI, POA, PAN of individual promoters holding control - either directly or indirectly.
   Note: IN CASE OF CHANGE IN DETAILS FRESH INCORPORATION CERTFICATE IS MANDATORY


2. DOCUMENTS REQURIED FOR PARTNERSHIP FIRM
   • Application For Non Individual;
   • PAN copy in the name of Applicant;
   • Address Proof (address of the registered office, and the principal place of its business, if it is different);
   • Copy of Balance sheet for last 2 years Financial years;
   • Certificate of Registration if Firm is Registered;
   • Copy of Partnership Deed;
   • Annexure page with all details of the Partners;
   • Authorised Signatory List with specimen Signatures;
   • POI and POA of Partners mentioned in the Annexure;
   • an officially valid document in respect of the person holding an attorney to transact on behalf


3. DOCUMENTS REQURIED FOR TRUST
   • Application For Non Individual;
   • PAN copy in the name of Applicant;
   • Address Proof;
   • Copy of Balance sheet for last 2 Financial years;
   • Certificate of Registration required if Trust is Registered (FOR CHARITABLE AND PUBLIC TRUST REGISTRATION CERTIFICATE IS MANDATORY.)
   • Copy of Trust Deed;
   • Authorised Signatory List with specimen Signatures;
   • Annexure page with all details of the Trustees, the names of the beneficiaries, settlor and authors of the trust;
   • POI and POA of Trustees mentioned in the Annexure;
   • Such documents are required for an individual to get details beneficial owner, managers, officers or employees, as the case may be, holding an attorney to transact on its behalf; discharging role as trustee and authorised to transact on behalf of the trust.


4. DOCUMENTS REQURIED FOR HUF
   • Application For Non Individual;
   • PAN copy in the name of HUF;
   • Current Address Proof (Not more than 3 months old);
   • Bank Passbook Or Bank statement in the name of HUF with HUF status;
   • HUF Deed of Declaration; OR Annexure page with all details of Karat’s and coparceners list (HUF stamp is mandatory on Annexure Page)
   • Karta’s Individual PAN Copy and address proof if it is different from that of HUF.


5. DOCUMENTS REQURIED FOR SOCIETY
   • Application For Non-Individual;
   • PAN copy in the name of Society;
   • Address Proof (not more than 3 months old);
   • Bye Laws in the name of Society (True copy of Society Rules and Bye Laws certified by the Chairman/Secretary);
   • Registration / Incorporation Certificate;
   • List of Managing Committee members;
   • Committee resolution for persons authorised to act as authorised Signatories;
   • Authorised Signatory List with specimen Signatures;


6. DOCUMENTS REQURIED FOR BANK
   • Application form for Non Individual;
   • PAN copy in the name of Bank;
   • Current address proof (Not more than 3 months old);
   • Bye laws or Constitution Documents in the name of Bank or Balance sheet for last 2 financial years;
   • Registration Certificate / RBI certificate;
   • Authorised signatory list with specimen signatures.


7. DOCUMENTS REQURIED FOR AOP
   • Application form for Non individual;
   • PAN copy in the name of AOP;
   • Current address proof;
   • Constitution documents in the name of AOP;
   • Resolution of the managing body & Power of Attorney granted to transact business on its behalf;
   • Authorised signatory list with specimen signatures.


8. DOCUMENTS REQURIED FOR LLP
   • Application form for Non Individual;
   • PAN copy in the name of LLP;
   • Current address proof (not more than 3 months old);
   • Copy of Balance sheet for last 2 years Financial years;
   • LLP Agreement;
   • Certificate of Incorporation;
   • Resolution for persons authorised to act as authorised signatories;
   • Authorised Signatory List with Specimen Signature;
   • Annexure Page with Partners details;
   • POI /POA of all Partners mentioned in annexure.


9. DOCUMENTS FOR LLC
   • Application form for Non Individual;
   • PAN copy in the name of LLC;
   • Current Address proof (Not more than 3 months OLD);
   • Board Resolution;
   • LLC Agreement;
   • Certificate of Incorporation.
   • Balance sheet for last 2 year financial years;
   • Constitution Documents;
   • Resolution for persons authorised to act as authorised signatories;
   • Authorised /signatory list with specimen signature;
   • Annexure page with all directors details;
   • PI /POA of all directors mentioned in annexure.


10. DOCUMENTS FOR ESTATE
    • Non-Individual Application form;
    • PAN card copy in the name of Estate;
    • Proof of Address in the name of Estate;
    • Court Probate ;
    • Will Copy;
    • Annexure Page with details of Executers;
    • Proof of Identity and Proof of Address of the Executers;
    • Authorised Signatory List with specimen signature (Executer).


11. DOCUMENTS FOR FPI CATEGORY I & II
    
    

    Sr. No.	Document Type	KYC Documentation Type	Category I	Category II
    1.	Applicant Level	Constitutive Docs (MoA, COI, prospectus etc.)	Required	Required
    2.		Proof of Address (*)	Required	Required
    3.		PAN	Required	Required
    4.		Board Resolution(**)	Not Required	Required
    5.		FATCA / CRS form	Required	Required
    6.		Form/ KYC Form	Required	Required
    7.	Authorised Signatories	List of Signatures(**)	Required	Required
    8.	Authorised Signatories	List of UBO including the details of Intermediate BO(***)	Required	Required
    9.		Proof of Identity	Not Required	Required

    (*) Power of Attorney having address provided to Custodian is accepted as address proof. (**) Power of Attorney granted to Global custodian/ local custodian is accepted in lieu of Board Resolution (BR). BR and the authorized signatory list (ASL) is not required if SWIFT is used as a medium of instruction. (***) UBO is not required for Government and Government related entities

    Notes to the Table

    • FPIs to provide an undertaking that upon demand by Regulators/ Law Enforcement Agencies the exempted / relevant document/s would be submitted to the intermediary.
    • High-risk FPIs from certain jurisdictions need KYC documentation equivalent to Category II.
    • FPI Category-II registered under Regulation 5(b)(i) should provide KYC documentation equivalent to FPI Category-I.
    • For non-PAN related KYC documents (including KYC form), a local custodian can rely on KYC carried out by another entity of the same financial group (like a Global Custodian or Investment Manager) which is regulated and coming from an FATF member country, where KYC is carried out as per their home jurisdiction standards provided that such entity.
    • Prospectus and Information Memorandum are acceptable in lieu of an official constitutional document.
    • Valid FATCA/CRS documentation required for account opening.
    • PAN verification can be done online without certification. PAN not mandatory for UBO/senior management/authorized signatories.
    • PAN not required for tax-exempt UN entities/multilateral agencies in India.
    • Board Resolution and ASL not needed if no physically signed documents/agreements exchanged where in the FPI or its authorized representative being an Investment Manager regulated in FATF member country.
    • Existing FPI risk-based KYC requirement is applicable to FDI, FVCI/DR, and FCCB accounts/entities if registered as FPIs.

    While doing the Verification for Non-Individual please check the Company stamp should be available on the Application form at Signature Place.