Becoming a SEBI Registered Analyst: Your Step-by-Step Guide

how to become sebi registered analyst becoming a sebi registered analyst your step-by-step guide

This post provides all the necessary information on how to become a SEBI Registered Analyst. It explains the necessary requirements and the step-by-step process to follow. Must read the post completely for complete understanding.

SEBI Research Analyst Registration: Requirements for Eligibility

  1. Qualification
  2. Certification
  3. Net Worth


To be eligible for registration, the applicant must satisfy one of the following requirements:

  1. Obtain a professional qualification, postgraduate degree, or postgraduate diploma in any of the following areas: finance, accounting, commerce, economics, business management, capital markets, financial services, or markets.
  2. Hold a professional qualification, postgraduate degree, or postgraduate diploma recognized by the All India Council for Technical Education, NAAC, National Board of Accreditation, or any other council/board/body established under an Act of Parliament in India. Accreditation.
  3. Earn a professional qualification by completing a minimum 1-year Post Graduate Program in Securities Markets from NISM (National Institute of Securities Markets).
  4. Bachelor’s degree in any discipline and at least 5 years of experience in activities related to financial products, markets, securities, funds, or asset or portfolio management.


  • Research Analysts who are registered with SEBI and are Partners of Research Analysts must have NISM Certification for Research Analysts, as mandated by the Board. Alternatively, they may hold any other certification accepted by the Board.

Net Worth

To gain a clear understanding of net worth, let us explore its definition and requirements:

  1. Net worth represents the total value of paid-up share capital and free reserves, excluding revaluation reserves, less accumulated losses.
  2. While applying, it is necessary to have a net-worth certificate issued by a Chartered Accountant (CA). The certificate should not be more than 6 months old at the time of filing the application.
  3. For individual or partnership firm research analysts, the net tangible assets should exceed the value of Rs 1 lakh.
  4. In case of research analysts who are body corporates or LLP firms, the net worth should not be less than Rs.25 lakhs.

SEBI Research Analyst Registration: Documents Required

While filling the application, you need to submit various documents. Some documents are required upfront, while others may be requested during the application process. The specific documents required may differ from one applicant to another. However, the following are some of the common documents that are generally required to submit and process the application:

  1. Proof of identity and address, such as PAN and Aadhaar card.
  2. Qualification certificates, including Graduation or Post Graduation Certificates, Experience Certificates, and NISM certificates.
  3. Net Worth Certificate issued by a Chartered Accountant.
  4. Income Tax Returns (ITR) for the past three years.
  5. Declarations: a. Declaration of Compliance to Relevant Clauses of Chapter III of the Regulations. b. Declaration of Compliance with Schedule II of SEBI Regulations, specifying the four criteria. c. Declaration of Compliance with Regulation 7(1) of Research Analysts Regulations 2014. d. Declaration of Compliance with Regulation 7(2) of Research Analysts Regulations 2014. e. Declaration of Necessary Infrastructure Availability.
  6. Details regarding infrastructure availability for research analyst services, including supporting documents. This includes information about office space, furniture, fixtures, software configuration, hardware configuration, software support, hardware support, and other relevant infrastructure facilities.
  7. Standard Disclosures and internal policy and procedure documents related to the business.
  8. Business plan and details of current activities.

Please note that these points are general guidelines, and specific requirements may vary depending on the nature of the application and regulatory framework. It is advised to consult the relevant authorities or guidelines for the exact document requirements in your specific case.

SEBI Research Analyst Registration: Fee Structure

While submitting your application, it is necessary to submit a non-refundable application fee. Once your registration is approved, you need to pay the registration fee to secure your registration and receive a printed certificate.

Applicant CategoryApplication Fees (Rs.)Registration Fees (Rs.)
Individuals and Partnership Firms₹5,000₹10,000
LLPs and Body Corporate₹50,000₹5,00,000
Proxy Advisers₹5,000₹10,000

SEBI Research Analyst Registration Office Requirements Simplified

To get registered with SEBI as a Research Analyst, one has to fulfill the following office requirements:

  1. A designated office space with suitable infrastructure including computers, internet connectivity and necessary software.
  2. Access to a research library or relevant database to collect and research information.
  3. Adequate data storage facilities for maintaining research records and documents.
  4. A system to monitor and control the flow of information to ensure compliance with SEBI regulations.
  5. Proper record-keeping mechanism to maintain track of research reports, recommendations and client interactions.
  6. Robust information security measures to protect sensitive data and prevent unauthorized access.
  7. Efficient communication channels to interact with clients, colleagues and SEBI officials as required.
  8. Compliance with any additional office related guidelines or regulations specified by SEBI.

These requirements are essential for SEBI registration as Research Analyst and play a vital role in maintaining the integrity and professionalism of research activities.

Instructions for Registering as a Research Analyst (Form A)

To become a SEBI Registered Research Analyst, it is crucial to complete the Research Analyst (Form A) application.

  1. The instructions are for those seeking registration as a Research Analyst (RA).
  2. Fill out Form A along with necessary supporting documents to apply for registration.
  3. Submit the application to the SEBI Head Office or the relevant Regional/Local Office based on your registered address.
  4. Fill the application form in accordance with RA Regulations.
  5. Type all fields in the form.
  6. Fill all relevant fields and use “Not Applicable – NA” if any field doesn’t apply to you.
  7. For additional details, provide information on separate sheets and attach them to the application form.
  8. Self-attest and stamp the supporting documents.
  9. Incomplete applications will be rejected, so ensure all requirements are met.
  10. Review the SEBI (Research Analyst) Regulations, 2014 for eligibility criteria and registration process details.
  11. In the covering letter, mention if you provided research services before these Regulations and provide relevant details.
  12. As part of the registration process, submit a duly filled and signed Form A, along with the required application fees via bank draft.
  13. Sign all pages of the application form, initial additional sheets, and include the name and signature of the authorized signatory.
  14. Provide details and supporting documents based on your legal structure (individual, body corporate, partnership firm, LLP).
  15. Research analysts must meet the minimum net worth requirement: Rs. 1 lakh for individuals/partnership firms and Rs. 25 lakh for body corporate/LLPs.
  16. Net worth certificate or assets and liabilities statement should not be older than six months.
  17. Provide separate declarations on your letterhead regarding compliance with qualification requirements, certification, infrastructure, and fit and proper criteria.
  18. SEBI will consider all requirements and approve the application upon satisfaction. Upon payment of registration fees, SEBI will grant the certificate of registration.
  19. Registration fees are Rs. 5,00,000/- for body corporate/LLPs and Rs. 10,000/- for individuals/partnership firms or proxy advisers.
  20. After registration, comply with reporting requirements specified by SEBI.
  21. Regularly check SEBI’s website for updates, circulars, and guidelines related to Research Analysts.
  22. Notify SEBI of any material changes in the furnished details within a reasonable time period.

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Frequently Asked Questions (FAQs) about SEBI Registered Research Analysts:

Who is SEBI?

SEBI is a governmental organization that oversees securities and exchanges, ensuring their proper regulation.

SEBI full form?

The full form of SEBI is “The Securities and Exchange Board of India”.

What is a research report?

The term encompasses all forms of written or electronic communication, such as research analysis, research recommendations, or opinions regarding securities or public offerings that provide a foundation for making investment decisions.

Who is a research analyst?

A research analyst is an expert who creates detailed reports regarding securities or assets, which are utilized by both internal teams and clients for investigative purposes.

Who is a SEBI registered research analyst?

A person who is knowledgeable in the field of research analysis and is registered with SEBI is known as a SEBI Registered Research Analyst.

What is the qualification for research analyst?

To be a Research Analyst, it’s important to have at least a bachelor’s degree in fields such as marketing, finance, economics, business, or a related area. Companies generally prefer candidates for this role to hold a master’s degree in finance or a similar field.

What is the salary of research analyst job profile?

In India, the salary for Research Analysts varies from ₹ 1.7 Lakhs to ₹ 9.0 Lakhs, with an average annual salary of ₹ 3.5 Lakhs.

What is the role of research analyst?

Research analysts have the important task of examining and verifying data to ensure its accuracy and generate meaningful information. They analyze the data using mathematical, statistical, and analytical models to identify patterns that could uncover potential business opportunities.

Which exam is for research analyst?

In order to obtain the Research Analyst registration, candidates are required to pass both the Series 86 and 87 exams, as well as the SIE exam. The SIE exam serves as a prerequisite for the Series 86 and 87 exams.

What is the salary of research analyst in SEBI?

The highest salary that an Equity Research Analyst can earn is ₹23.5 Lakhs per year, which amounts to ₹1.96 Lakhs per month.

What is the salary growth of research analyst?

In India, the salary range for Research Analysts is from ₹1.8 Lakhs to ₹8.5 Lakhs, with an average annual salary of ₹3.2 Lakhs. The median wage for this role is ₹1.8 Lakhs per year, while the most common salary is ₹5.8 Lakhs per year.

What is the value of SEBI registered research analyst?

A research analyst, whether an individual or a partnership firm, must possess net tangible assets valued at no less than one lakh rupees.

What is the eligibility for SEBI registered research analyst?

To become a SEBI Registered Research Analyst, there are several criteria to meet, but here are the four primary ones. 1. Qualification 2. Certification 3. Net Worth 4. All Documents.

Who is the youngest SEBI research analyst?

Anand Nahar, a young boy who began investing his pocket money during his school days, is now the youngest SEBI Registered Research Analyst in Gujarat. He is also the Co-Founder of Gayatri Research & Investments, a prominent investment company.

Is Research Analyst a good job?

Is being a research analyst a good career choice? Absolutely! Working as a research analyst offers a fulfilling career for individuals who are passionate about providing insights that assist companies in outperforming their competitors. Typically, these professionals earn competitive salaries and enjoy various perks and benefits.

What is difference between SEBI registered Research Analyst and investment advisor?

The distinction between the two is that a SEBI registered research analyst is an authorized individual who can provide guidance on investments, while an investment advisor can be anyone and may vary from person to person. Typically, an investment advisor does not possess SEBI registration.

What is the qualification required to become a SEBI Registered Research Analyst?

1. Possess a professional qualification or postgraduate degree in finance, accountancy, commerce, economics, business management, capital market, financial services, or markets. 2. Hold an accredited professional qualification or postgraduate degree by recognized Indian authorities. 3. Complete a minimum 1-year postgraduate program in Securities Market from NISM. 4. Have a bachelor’s degree in any discipline and at least 5 years of relevant experience in financial products, markets, securities, funds, or asset/portfolio management.

What is the certification required to become a SEBI Registered Research Analyst?

SEBI-registered research analysts and partner analysts must have a NISM certification or any other certification recognized by the Board.

What is Net worth?

Net worth is the total value of assets minus liabilities.
Net worth = paid-up share capital + free reserves – accumulated losses (excluding revaluation reserves).

What is the minimum net worth required to become a SEBI Registered Research Analyst?

The preferences mentioned below vary from person to person.:
Net-worth certificate from a CA required for application (valid for 6 months). 1. Individual/partnership firm research analysts need net tangible assets > 1 lakh rupees. 2. Body corporates/LLP firms research analysts need net worth >= 25 lakh rupees.

What is the documents required to become a SEBI Registered Research Analyst?

Typically, these 11 documents are required. However, individual preferences may vary as mentioned below.
1. Pan Card
2. Aadhar Card
3. Registered Rent Agreement ( In Case Property is Rented )
4. Proof of Qualification ( Degree Certificate + Marksheet + NISM Certificate )
5. Net Worth
6. Income Tax Returns ( 3 Years )
7. Various Declarations
8. Internal Policy + Standard Disclosure
9. Business Plan
10. Infrastructure Documents
11. Cibil Report

What qualification required for research analyst?

To work as a research analyst, you need to have a bachelor’s degree in statistics, math, or a related field. It’s also important to have practical experience in financial analysis and predictive modeling.

How many SEBI registered research analyst are there in India?

Out of the 900+ Research Analysts registered with SEBI, a significant number are associated with brokerage companies that do not offer services to individual clients.

What is the minimum qualification for SEBI?

For the SEBI Grade A position, the educational qualifications are as follows:
General: A Master’s Degree in any discipline, a Bachelor’s Degree in Law, a Bachelor’s Degree in Engineering from a recognized university, or being a CA/CFA/CS/Cost Accountant.

Which exam is required for SEBI?

The SEBI Grade A Exam 2023 is a test conducted by the Securities and Exchange Board of India (SEBI) on behalf of the central government. This examination is conducted to fill the position of Assistant Manager.

How do I become a SEBI Grade A officer?

The selection procedure for SEBI Grade A is conducted in three stages. The first phase consists of an online screening examination with two papers, each carrying 100 marks. The second phase involves an online examination with two papers, also carrying 100 marks each. If you qualify for the second phase, you will receive new Hall Tickets.

What are the types of research analyst?

The types of research analysts include market analysts, operation analysts, economic analysts, financial analysts, and economic analysts.

I am a graduate? Can I apply for registration?

To be considered a graduate in any field, you must have five years of experience.

Which exam do you need to pass to obtain Research Analyst registration?

NISM Research Analyst 15.

Is 3 years Income tax return mandatory in process of application filling?

Yes, a minimum of three years of Income Tax Returns (ITR) is mandatory for the individual process.

Can I apply for Research Analyst Registration with Job?

According to SEBI regulations, engaging in Research Analyst activity should be your sole business activity as defined in 2(H). Please read 2(H) carefully for further clarification.

Where can I find information about SEBI registered research analysts?

You can find genuine information about SEBI registered research analysts at this location.

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