合格境外机构投资者有哪些投资印度证券的交易是允许的？
QFIs只能进行以下交易：
a. 通过Demat账户模式（直接路由）和单位确认收据（UCR）[间接路由]购买/订购共同基金单位。 有关直接路线和间接路线的详细信息，
b.购买在认可证券交易所上市的公开发行股票。
c.通过印度证券交易所的注册股票经纪人购买上市股票
d.赎回透过直接或间接途径购买/认购的共同基金单位
e.通过SEBI注册股票经纪人出售他们在demat账户上持有的股票
f.认购股票配股
g.红利股收据或股票分割/合并收据
h.受投资限制，因合并、分立等公司行为取得股权的
i.收到股息和利息。
j.根据2011年《SEBI(实质收购股份及收购)规例》公开发售的投标股本股份。
k.根据《2009年SEBI(股票退市)规例》公开发售的投标股本股份。
l.上市公司根据1998年《证券回购(SEBI)条例》回购的投标股权
m.买卖在认可证券交易所上市的公司债证券;
n.通过公开发行的方式购买公司债券，如果公司承诺按照1956年《公司法》的现有规定在公认的证券交易所上市;
o.发行人以回购或赎回方式出售公司债券的行为
p.购买和出售印度共同基金的债务计划单位
What are the permissible transactions allowed for QFI’s investing into Indian securities?
QFIs can transact only in the following:
a. Purchase/subscription of mutual fund units through Demat Account mode (Direct Route) and Unit Confirmation Receipt (UCR) [Indirect Route].
b. Purchase of equity shares in public issues, to be listed on recognised stock exchange(s).
c. Purchase of listed equity shares through SEBI registered stock brokers, on recognized stock exchanges in India.
d. Redemption of mutual fund units purchased/subscribed through direct and indirect route
e. Sale of equity shares which are held in their demat account through SEBI registered stock brokers.
f. Subscription of equity shares against rights issues.
g. Receipt of bonus shares or receipt of shares on stock split/ consolidation.
h. Receipt of equity shares due to amalgamation, demerger or such other corporate actions, subject to the investment limits.
i. Receipt of dividends and interest payments.
j. Tender equity shares in open offer in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
k. Tender equity shares in open offer in accordance with SEBI (Delisting of Equity Shares) Regulations, 2009.
l. Tender equity shares in case of buy-back by listed companies in accordance with SEBI (Buyback of Securities) Regulations, 1998
m. Purchase and sale of corporate debt securities listed on recognized stock exchange(s);
n. Purchase of corporate debt securities through public issues, if the listing on recognized stock exchange(s) is committed to be done as per the extant provisions of the Companies Act, 1956;
o. Sale of corporate debt securities by way of buyback or redemption by the issuer;
p. Purchase and sale of units of debt schemes of Indian mutual funds.
QFI可以通过哪些方式投资共同基金单位?
正如上文第9号问题(a)点所述，QFI有两种不同的投资MF单位的选择:
a.Demat模式-直接路线
b.单位确认收据(UCR) -间接路线
What are the different ways in which QFI can invest in Mutual Fund units?
As stated in point (a) of Question No. 9 above, QFI has two different options for investing in MF units:
a. Demat mode – Direct route
b. Unit Confirmation Receipt (UCR) – Indirect route
QFI如何直接投资MF？
QFI必须首先将资金汇入其单一的无息卢比账户，然后通过QDP提供投资详情。
How does QFI invest in MF under Direct route?
QFI has to first remit the funds to its single non-interest bearing rupee account and then place the order through the QDP by providing details of the investment.
QFI如何赎回其共同基金单位？
QFI必须向QDP提出赎回请求，后者将把赎回请求提交给各自的共同基金。
How does QFI redeem his Mutual Fund units?
QFI has to place his redemption request with the QDP, who in turn will place it with the respective Mutual Fund.
QFI可以转移MF单位？
不可以。对MF单位的投资是不可转让和不可交易的。 但是，他们可以兑换。
Can QFI transfer the MF units?
No. Investment in MF units are non-transferable and non-tradeable. They can, however, be redeemed.
QFI能否保为MF单位/ UCR担保？
不可以
Can QFI pledge MF units / UCR?
No.
QFI能否在同一资产管理公司的不同计划之间转换投资?
不可以
Can QFI Switch his investments between schemes of the same AMC?
No.
QFI是否可以像印度人一样，接受系统的投资/转移/退出计划?
不可以
Can QFI subscribe to Systematic Investment/Transfer/Withdrawal plans as they are available to Indians?
No.
QFIs可以在印度开设银行账户吗？
是。 QFI可以在印度开设一个无息的卢比账户，其中包含AD类别-I银行，但不受1999年FEMA规定的条款和条件的限制。 QDP应对QFI在印度进行的所有投资运营这个单一无息卢比账户。
Can QFIs open bank account in India?
Yes. A QFI may open a single non-interest bearing Rupee account with an AD Category –I bank in India subject to terms and conditions specified under FEMA, 1999 from time to time. The QDP shall operate this single non-interest bearing Rupee account for all investments made by QFI in India.
QFIs是否应该在购买前汇款？
是。 应在执行采购订单之前，在QFI的单一无息卢比账户中收到资金。 QFI的交易需要提前筹资。
Should QFIs remit funds before making purchase?
Yes. Funds should be received in the single non-interest bearing rupee account of the QFI before of the purchase order. The transactions by QFI are required to be pre-funded.
QFI是否需要在规定的时间内将其无利息卢比账户中的资金汇回?
不需要。QFI不需要在规定的时间内将其无利息卢比账户中的资金汇回国内。
Is a QFI required to repatriate the funds lying in its non-interest bearing Rupee Account within a stipulated time?
No. A QFI is not required to repatriate the funds lying in its non-interest bearing Rupee Account within any stipulated time.
QFI开立一个以上的demat帐户有什么限制吗？
有的。 不管在任何时候，QFI只能打开所有合格DP中的一个demat帐户。 此外，购买和出售所有符合条件的证券只能通过该demat账户进行交易。
Is there any restriction on QFI to open more than one demat account?
Yes. At any point of time a QFI can open only one demat account with any of the qualified DPs. Further, purchase and sale of all eligible securities should be transacted through that demat account only.
QFI开立多个交易帐户是否有限制?
没有。QFI可以与多个股票经纪人开立交易账户。但是，QFI的所有交易都需要通过合格的DP。
Is there any restriction on QFI to open more than one trading account?
No. A QFI can open trading account with more than one stock broker. However, all the transactions of the QFI need to be routed through its qualified DP.
QFI和他的股票经纪人之间会有什么关系?
QFI与其股票经纪人应当为客户经纪人关系。为此，合格投资者应不时按规定履行必要的手续。
What will be the relationship between the QFI and his stock broker?
The QFI and his stock broker shall share the client broker relationship. For this purpose, the QFI shall fulfill the requisite formalities, as prescribed, from time to time.
QFI能否与股票经纪人直接互动?
是的。QFI可以直接与股票经纪人交互，前提是股票经纪人本身是合格的DP，或者股票经纪人与合格的DP就订单传送、执行、确认和交易报告达成协议。
Can a QFI directly interact with a stock broker?
Yes. A QFI can directly interact with a stock broker provided the stock broker itself is the qualified DP or the stock broker has an arrangement with qualified DP for order routing, execution, confirmation, and reporting of trades.
QFI可以直接向股票经纪人下单吗?
不能。QFI不能直接向股票经纪人下单。购销订单必须按照2012年1月13日发出的CIR/IMD/FII&C/3/2012号通函的规定，向合格的DP提交。
Can a QFI directly place order with a stock broker ?
No. A QFI cannot directly place order with a stock broker. The purchase/sale orders have to be placed with the qualified DP as provided under circular CIR/IMD/FII&C/3/2012 dated January 13, 2012.
QFI的最低投资额有没有限制?
没有。QFIs的最低投资额没有限制。
Is there any restriction on minimum volume of investment by QFI?
No. There is no restriction on the minimum volume of investment to be made by QFIs.
通过QFI途径的投资是否可以自由遣返?
是的。通过QFI途径进行的投资可自由遣返，但需缴纳相应的税款。
Is the investment through the QFI route freely repatriable?
Yes. The investment made through the QFI route is freely repatriable, subject payment of applicable taxes.
QFIs是否需要在印度指定当地托管人?
QFI没有被授权在印度任命当地的托管人。 但是，如果QFI希望指定一名托管人，他可以这样做。 证券保管人如果由QFI指定，则有义务代表QFI客户进行证券清算和结算。 但是，QFI不得指定任何人作为监护人，除非它本身是QFI的合格DP，并且还根据SEBI（1996年证券保管人）条例在SEBI注册为托管人。
Is it necessary for QFIs to appoint a local custodian in India?
QFIs are not mandated to appoint local custodian in India. However, in case a QFI wishes to appoint a custodian he may do so. A custodian of securities, if so appointed by QFI would be obligated to perform clearing and settlement of securities on behalf of the QFI client. However, no person shall be appointed as custodian by the QFI unless it is itself the qualified DP of the QFI and is also registered as custodian with SEBI under SEBI (Custodian of Securities) Regulations, 1996.
QFI可以修改交易明细吗？
可以。在执行此类事务之前，QFI可以修改事务细节。为此，QFI应将所需的修改通知合格DP，后者将在尽职调查后将该修改转发给经纪商。
Can the transaction details be modified by QFI?
Yes. The transaction details can be modified by QFI before the execution of such transaction. For this purpose, the QFI shall communicate the desired modification to the qualified DP, who, in turn, after his due diligence, will forward the same to broker.
合格投资者可否更改其指定的海外银行户口?
可以。合格投资者可更改其海外指定银行户口。然而，在任何给定的时间点，QFI只能有一个指定的海外银行账户，资金通过该账户转移到QFI在印度的个人银行账户。
Can QFIs change their designated overseas bank account?
Yes. QFIs can change their overseas designated bank account. However, at any given point of time, there can be only one designated overseas bank account of the QFI through which funds are transferred to the Individual bank account of QFI in India.
QFI投资是否有最低锁定期？
没有。QFI的投资没有最低锁定期。
Is there any minimum lock-in period for investment made by QFI?
No. There is no minimum lock-in period for investment made by QFI.
QFIs能否发行离岸衍生工具(ODI)或参与性票据(PNs)?
不能。QFIs不能发行离岸衍生工具或参与性票据。
Can QFIs issue Offshore Derivative Instruments (ODI) or Participatory Notes (PNs)?
No. QFIs cannot issue Offshore Derivative Instruments or Participatory Notes.
QFIs是否会在公开发售中被归类为合格机构买家?
不能。在公开发行股票方面，QFIs将与印度的非机构投资者同等对待
Will QFIs be categorized as Qualified Institution Buyers (QIB) in a public offer?
Ans. No. The QFIs will be treated at par with the Indian Non-Institutional investors for the purpose of public offer of equity shares.
合格金融机构可否透过在全球托管人/银行/经纪公司开设的海外资金池帐户进行投资?
不可以。每一位有意以合格信贷机构身份投资的QFIs，均须开立一个独立的demat帐户，并按照2012年1月13日发出的通告及其后有关该事项的通告所订明的架构进行投资。QFIs不能通过海外汇集账户或与全球托管人/银行/经纪商共同开设的综合账户进行投资。
Can QFIs invest through overseas pool accounts maintained with global custodians/ banks/ brokers ?
Ans. No, each and every QFI who intends to make investments as a QFI needs to open a separate demat account and follow the framework as provided in the circular dated January 13, 2012 and subsequent circulars on the subject. QFIs cannot invest through overseas pooled accounts or omnibus accounts maintained with global custodians/ banks/ brokers.
QFIs可否从事借贷、基金或证券业务?
不可以。QFIs不能从事资金或证券的借贷业务。
Can QFIs engage in borrowing or lending or funds or securities?
Ans. No. QFIs cannot engage in borrowing or lending of funds or securities.
QFIs是否可以进行场外证券转让?
不可以。QFIs不能将证券转出市场。但是在更改合格的DP时，QFI可以将其证券从其与合格DP转让方共同持有的demat账户转移到合格DP转让方。
Whether QFIs are allowed to do off market securities transfer?
Ans. No. QFIs cannot transfer securities off market. However, while changing the qualified DP, a QFI may transfer his securities from his demat account maintained with transferor qualified DP to the transferee qualified DP.
QFIs对印度法律、法规有何责任?
QFIs应在任何时候就其作为QFIs的活动遵守印度现行的法律、规则、规章、通告等。合格的DP应从QFI获得对此目的的明确承诺。
此外，QFI应根据政府、SEBI或印度任何其他监管机构的要求，视情况向该机构提交与其活动有关的任何信息、记录或文件。QFI必须就此向合格的DP作出明确承诺。
What is QFIs responsibility with respect to Indian laws, rules and regulations?
Ans. QFIs shall, in relation to his activities as QFIs, at all times, subject themselves to the extant Indian laws, rules, regulations, circulars etc. issued from time to time. An express undertaking to this effect shall be obtained by qualified DP from the QFI.
Further, the QFI shall, as and when required by the Government, SEBI or any other regulatory agency in India, submit to that agency, as the case may be, any information, record or documents in relation to his activities as QFI. QFI has to give an express undertaking to this effect to the qualified DP
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有关合格境外机构投资者常见问答系列之合格境外机构投资者合格条件
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