SEBI Framework · August 2021
Accredited Investor in India
Getting accredited reduces your SIF minimum from ₹10 lakh to ₹1 lakh per strategy. Only 4 SEBI-authorised agencies can certify you. Here is exactly who they are, whether you can apply online, and how the offline process works.
1. Eligibility thresholds
Individuals, HUFs, Family Trusts, and Sole Proprietorships qualify if they meet any one of the three criteria below. Entities such as companies, partnership firms, and LLPs have separate (generally higher) thresholds.
| Basis | Threshold | Notes |
|---|---|---|
| Annual income only | ≥ ₹2 crore | Verified from ITR. Preceding financial year. |
| Net worth only | ≥ ₹7.5 crore (of which ≥ ₹3.75 crore in financial assets) | CA certificate required. Primary residence excluded. Real estate at local body ready reckoner rates. |
| Income + net worth combined | Annual income ≥ ₹1 crore AND net worth ≥ ₹5 crore (≥ ₹2.5 crore in financial assets) | Both conditions must be met simultaneously. |
Joint accounts
A joint account qualifies if: (a) holders are parent and child and at least one qualifies independently, or (b) holders are spouses whose combined income or net worth meets the criteria.
Deemed Accredited (no application needed)
Central and State Governments, QIBs, Category I FPIs, Sovereign Wealth Funds, and Multilateral Agencies (ADB, World Bank, IMF, IFC, NDB) are deemed Accredited Investors automatically.
2. The 4 SEBI-recognised Accreditation Agencies
SEBI set strict eligibility criteria for accreditation agencies: at least 20 years in Indian securities markets, net worth ≥ ₹200 crore, nationwide terminal presence, investor grievance mechanisms, and Investor Service Centres in 20+ cities. Only four entities qualify.
BSE Ltd via subsidiary BASL (BSE Administration & Supervision Ltd)
Parent: BSE Ltd
bseindia.com ↗3. Is there an online process?
Online infrastructure for accredited investor accreditation in India is still maturing (as of May 2026). The practical route for most applicants is the offline channel through their existing DP or broker.
| Agency | Online portal | Status |
|---|---|---|
| CDSL | Partial | Dedicated module exists at cdslindia.com but reports internal errors; functionality limited |
| NSDL | In progress | Available in progress within NSDL's SPEED-e ecosystem; contact nearest NSDL DP |
| BSE / BASL | Not live | BASL website (basl.co.in) shows "Launching Soon" as of May 2026 |
| NSE | Not confirmed | No dedicated public-facing accredited investor portal found; apply via NSE ISC or broker |
Practical guidance
For now, the easiest route is to contact your existing Depository Participant (DP) or registered stock broker and ask them to initiate the accreditation application on your behalf. They will forward it to the appropriate agency and track the status.
4. Step-by-step offline process
The process is substantially identical across all 4 agencies. You can submit directly at an Investor Service Centre or via your DP/broker.
- 1
Check your eligibility
Confirm your income or net worth meets at least one threshold from Section 1 above. Check your most recent ITR (income basis) or get a CA net worth certificate (net worth basis).
- 2
Gather documents
Document Details ITR (self-certified copy) Most recent financial year; 3 years if claiming 2-year validity PAN Card Mandatory for all applicants CA net worth certificate Required if claiming net-worth-based eligibility KYC documents Aadhaar / address proof (if not already KYC-compliant with the agency) Ready reckoner valuation Only if real estate is included in net worth calculation - 3
Fill and submit the application
Download the prescribed application form from the agency's website or collect it at any Investor Service Centre. Submit along with all supporting documents either:
- Directly at an ISC, or
- Through your registered stock broker or Depository Participant
- 4
Agency verifies your application
The agency checks your income/net worth from the ITR and supporting documents, verifies your fit-and-proper status (not debarred from securities markets), and may request additional documents if needed.
- 5
Receive your Accreditation Certificate
The certificate will include your name, PAN, date of accreditation, a unique accreditation number, and validity period:
- 1 year — based on single most recent financial year ITR
- 2 years — ITRs for each of the 3 preceding years submitted, eligibility met in all three
- 6
Present certificate to your investment provider
When onboarding to a SIF (or AIF/PMS/IA), submit your certificate along with a Consent Form declaring that you understand the product, its risks, and the relaxed regulatory framework that applies. The provider verifies the certificate directly with the Accreditation Agency before completing onboarding.
- 7
Renew before expiry
Accreditation is not permanent. Before it expires, submit a fresh application with updated documents (latest ITR, refreshed CA certificate if applicable) to any Accreditation Agency.
5. Per-agency contacts and links
CDSL
- Website
- cdslindia.com
- AI module
- cdslindia.com/AccreditedInvestor/ (may show errors)
- DP locator
- Use the DP locator on cdslindia.com to find your nearest Depository Participant
NSDL
- Website
- nsdl.co.in
- SPEED-e
- speed-e.nsdl.com — NSDL's e-services platform for DPs
- Helpdesk
- 1800-222-990 (toll-free)
BSE / BASL
- BSE website
- bseindia.com
- BASL website
- basl.co.in (Launching Soon as of May 2026)
- ISCs
- BSE Investor Service Centres in 20+ cities; apply at any ISC or via BSE-registered broker
NSE
- Website
- nseindia.com
- Investor services
- nseindia.com/invest/investor-awareness
- Helpline
- 1800-266-0052 (toll-free)
6. Why bother? Benefits of accreditation
| Benefit | Detail |
|---|---|
| Lower SIF minimum | ₹1 lakh per strategy instead of ₹10 lakh |
| Lower AIF minimum | Below the standard ₹1 crore threshold in AIFs where all investors are accredited |
| Lower PMS minimum | Below the standard ₹50 lakh threshold |
| Exclusive products | Investment providers can design products exclusively for Accredited Investors |
| High-value PMS flexibility | Accredited investors with ≥ ₹10 crore in PMS can bilaterally negotiate fees and invest up to 100% in unlisted securities |
| Investment Adviser fees | Fee limits and modes are fully negotiable by contract with the IA |
7. Regulatory references
| Document | Reference / Link |
|---|---|
| SEBI Circular on Accredited Investors | SEBI/HO/IMD/DOF1/CIR/P/2021/680 (August 2021) — search "Accredited Investors" on sebi.gov.in |
| AIF Regulations (as amended) | SEBI AIF Regulations 2012 (last amended April 2026) |
| PMS Regulations (as amended) | SEBI PMS Regulations 2020 (last amended September 2025) |
| Investment Advisers Regulations (as amended) | SEBI IA Regulations 2013 (last amended November 2025) |
Frequently asked questions
Does accreditation work across all agencies, or only the one that issued it?
The certificate is portable. Once issued by any of the 4 agencies, the investment provider verifies it directly with that issuing agency — you don't need a separate certificate from each agency to access different investment products.
Can I apply to multiple agencies simultaneously?
The SEBI framework doesn't prohibit it, but in practice one certificate from any agency is sufficient since it's valid across all SEBI-regulated investment providers. There is no benefit to holding certificates from multiple agencies simultaneously.
Does the net worth certificate have to be from a registered CA?
Yes. The SEBI circular requires a certificate from a Chartered Accountant (CA) registered under the Institute of Chartered Accountants of India (ICAI). A self-declaration of net worth is not acceptable.
What happens if my accreditation expires while I'm already invested in a SIF?
You can continue to hold existing units. The reduced minimum applies at the time of investment/subscription; an expired certificate does not force redemption. However, making fresh subscriptions below ₹10 lakh will require a valid certificate.
Is accreditation relevant only for SIF, or for other products too?
Accreditation unlocks benefits across multiple SEBI-regulated products: SIFs (₹1L minimum), AIFs (below ₹1 crore minimum in all-accredited funds), PMS (below ₹50L minimum), and Investment Adviser fee negotiation. The biggest immediate benefit for an investor at the ₹10–50L level is the SIF minimum reduction.
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