In an effort to enhance the Know Your Customer (KYC) processes and ensure better compliance for global users, the Central KYC Records Registry (CKYCRR) has announced significant updates. These changes will go into effect on May 30, 2025, from 8 PM onwards. The most notable updates include the introduction of a new “Residential Status” field and revised address proof guidelines for foreign nationals.
What’s Changing?
The inclusion of the “Residential Status” field will now be mandatory for all individuals and related persons of legal entities under the Personal Details section. This new field requires users to declare their residential status from the following categories:
- Resident Individual
- Non-Resident Indian (NRI)
- Foreign National
- Person of Indian Origin (PIO)
These changes will be applicable across all CKYC record types and modes of access, including screen-based inputs, bulk file uploads, and API-based systems. This step ensures that the registry accommodates a wider range of individuals and legal entities in a standardized way.
New Address Proof Guidelines for Foreign Nationals
To make the KYC process more inclusive for non-resident users, the CKYCRR has updated its address proof guidelines for Foreign Nationals. Going forward, Foreign Nationals will be able to submit the following documents as valid proof of their current address:
- Documents issued by government departments of foreign jurisdictions
- Letters issued by the Foreign Embassy or Mission in India
In addition to address proof, Foreign Nationals will be required to provide proof of identity and address from the following list of standard documents:
- Passport
- Driving License
- Voter Identity Card
These updates aim to simplify the process for global users, ensuring that their identity and address are verified without unnecessary complications.
System Preparedness
These updates are already available in the CKYCRR test environment, allowing financial institutions and reporting entities ample time to integrate and test the new changes. All entities registered with CKYCRR are urged to ensure their systems are ready by the official implementation date of May 30, 2025.
These changes are a critical step in making the KYC process more streamlined and inclusive, ensuring that both residents and non-resident individuals, including Foreign Nationals, can complete their KYC requirements with ease.
Disclaimer – This blog post is a general guide. It should not be considered legal advice. Consult a legal professional for more details.