Does SEBI RA or IA registration expire?

4 min read

IA and RASEBI registration

No. A research analyst or investment adviser certificate stays valid until SEBI suspends or cancels it. To keep it in force you pay a fee every five years from the grant date: ₹1,000 for an individual or firm, ₹5,000 for a company or LLP. Your NISM certificate does expire and has to be renewed.

Want this checked against your own position? We handle the documentation and the filing.

Regulation 10 of both sets of regulations says the certificate "shall be valid till it is suspended or cancelled by the Board". Until 8 December 2016 the same regulation said five years from the date of issue, which is where the idea of a renewal application comes from. There is no renewal application now.

The five-yearly fee

Paragraph 3 of the Second Schedule to each set of regulations asks a registered research analyst or investment adviser to pay a fee every five years from the date the certificate was granted, "to keep its registration in force". It falls due within the three months before the paid-up period ends.

Registrant	Research analyst	Investment adviser
Individual or partnership firm	₹1,000	₹1,000
Proxy adviser	₹1,000	Not applicable
Company or LLP	₹5,000	₹5,000

Paid every five years from the grant date.

Diarise the date when the certificate arrives. Nothing in the regulations says SEBI will remind you, and the regulation ties the certificate staying in force to the payment.

What does expire

Your NISM certificate. Regulation 7 asks for a fresh certification before the existing one lapses: XV-B for analysts and X-C for advisers. See NISM renewal.
The deposit slab. It is re-set by 30 April each year if your client count moved into a higher band. See the deposit page.

What ends a certificate

Regulation 10 names suspension and cancellation by SEBI. You can also surrender a certificate through BSE. Registrants who held a certificate before the 2016 change are treated as holding one granted under the new rule, subject to the fee (regulation 11).

Our monthly compliance plan diarises the five-yearly fee and the NISM expiry, and the compliance calendar lists them next to the 30 April deposit review.

Sources

We handle the documentation and filing: Monthly compliance plan

Sources read on 28 October 2026. SEBI revises these requirements, so we re-confirm every figure against the current circular before it goes into an application.

BuildWright Consultants provides documentation, application-drafting, and compliance facilitation for SEBI Investment Adviser and Research Analyst registration. This is not legal advice and does not replace a qualified professional. We are not SEBI and do not guarantee registration outcomes. Eligibility, deposit, fee, and timeline requirements are as prescribed by SEBI from time to time. Every figure we publish names the SEBI document it came from and the date it was read, and we re-confirm it against the current circular during scoping.