SEBI PMS Registration

Professional Portfolio Management in India

Expert consultancy for SEBI Portfolio Management Services (PMS) registration. Guidance on ₹5 Crore networth, compliance officer setup, and SIRE portal filing.

Obtain SEBI registration as a Portfolio Manager to manage high-net-worth portfolios with customized investment strategies.

Elevate your investment business. Manage large capital pools with professional SEBI-licensed Portfolio Management Services.

Portfolio Management Services (PMS) is a professional service where qualified portfolio managers manage a client's investments in stocks, fixed income, debt, and other individual securities. According to SEBI (Portfolio Managers) Regulations, 2020, no person shall act as a portfolio manager unless they have obtained a certificate of registration from SEBI.

PMS is highly popular among HNIs as it offers more flexibility and customization compared to Mutual Funds. A Portfolio Manager can manage funds on a Discretionary basis (manager decides), Non-Discretionary basis (client decides), or Advisory basis (manager advises).

QuickTaxperts provides a full-service compliance package for aspiring Portfolio Managers, covering networth certification, principal officer qualification checks, and the complex SEBI application process.

• Category: Financial Services
• Targeted at clients with a minimum investment of ₹50 Lakhs.
• Requires a robust operational and technological infrastructure.
• High regulatory oversight to ensure transparency and reporting.
• Direct ownership of securities in the client's demat account.
• Mandatory for managing portfolios above ₹50 Lakhs per client
• Registration under SEBI (Portfolio Managers) Regulations, 2020
• Enables Discretionary, Non-Discretionary, and Advisory services
• Requires high professional standards and institutional setup

PMS Eligibility Requirements

Strict criteria for capital and leadership.

• Networth: A minimum networth of ₹5 Crores is mandatory for Portfolio Managers.
• Principal Officer: Must have a professional degree and at least 5 years of experience in securities market.
• NISM Requirement: Mandatory passing of NISM Series XXI-A and XXI-B (Portfolio Management).
• Organization: Must be a body corporate with adequate infrastructure and workforce.

Documents required

Document requirements vary by entity type, state, premises, and authority. These are the usual groups we verify before submission.

• Registration Documents: Certificate of Incorporation and MOA/AOA.; Networth Certificate from a Statutory Auditor.; Profile of the Principal Officer and Compliance Officer.; Audited Financial Statements for the last 3 years.; Business Plan and Disclosure Document draft.; Details of Custodian and Depository Participant.; SOPs for investment process and risk management.

Process and timeline

• Entity Setup: Ensuring the company has the required capital (₹5 Cr) and professional leadership.
• Internal Drafting: Preparing the Disclosure Document, Client Agreement, and SOPs.
• SIRE Portal Filing: Submission of Form A with all technical annexures on the SEBI portal.
• SEBI Interview/Query: Responding to SEBI's technical clarifications regarding the investment strategy.
• License Issuance: Receipt of the SEBI PMS Registration Certificate.

Regulatory Obligations

Life as a Registered Portfolio Manager.

• Quarterly Reporting: Submitting periodic reports to SEBI regarding AUM and performance.
• Annual Audit: Mandatory audit of the portfolio management activities by an external auditor.
• Disclosure Document: Periodic updates and filing of the Disclosure Document with SEBI.
• Client Communication: Providing regular portfolio statements and performance reports to clients.

Expert review

SEBI PMS Registration content is reviewed by QuickTaxperts Asset Management Team, Compliance & Regulatory Experts.

• Checklist-led review
• Document pre-verification
• Authority-specific next steps

Frequently asked questions

These quick answers cover common planning questions before you request a checklist or quote.

• What is the minimum investment for a PMS client?: As per SEBI norms, the minimum investment amount for any client in a PMS is ₹50 Lakhs.
• What is the networth requirement for a PMS license?: A Portfolio Manager must maintain a minimum networth of ₹5 Crores at all times.
• What are the three types of PMS?: Discretionary (Manager decides), Non-Discretionary (Client decides), and Advisory (Client decides based on manager's advice).
• Who can be a Principal Officer?: A person with a PG degree/professional qualification and at least 5 years of relevant experience in the securities market.
• Is a custodian mandatory for PMS?: Yes, every Portfolio Manager must appoint a SEBI-registered Custodian for the securities they manage.
• How long is the PMS license valid?: The registration is permanent, subject to compliance and payment of renewal fees every 3 years.
• Can an Individual apply for a PMS license?: No, only body corporates (Companies) are eligible to apply for a SEBI Portfolio Manager registration.
• What is the fee for SEBI application?: The application fee is ₹1,00,000, and the registration fee is ₹10,00,000 for the grant of certificate.