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Steps for NBFC Registration

Fill Basic Info.
Upload KYC Documents
Pay the Service Cost
Documents verification by us
Apply to Govt. Portal by us
Submission & Get Certificates
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  49999/-

NBFC Registration

Inclusive of all taxes

What you get?

  • One Name Approval
  • Authorised Capital 10 Lakhs
  • Incorporation Certificate
  • 7 DSC
  • PAN Card
  • TAN (TDS)
  • MOA & AOA
  • Share Certificate
  • Company Compliance Booklet
  • RBI Licence
 
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You have to submit following documents / information

  1. Two Proposed Name of the Company
  2. Products / Services details of Organisation
  3. Nature of Business
  4. Directors' KYC:
    • (a) PAN Card
    • (b) Aadhar Card
    • (c) Photo
    • (d) EMail ID
    • (e) Mobile No
    • (f) Education details
    • (g) Place of Birth
    • (h) Bank Statement
    • (i) Voter ID Card or Driving license
    • (j) Passport (if any)
  5. Business Registered Address Proof
    • (a) Electricity Bill (within 2 months)
    • (b) NOC & Rent Agreements (if rented property)
  6. Authorised Capital Amount
  7. Paid up Capital Amount

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FAQ

  • (a) Minimum 2 Shareholders
  • (b) Minimum 2 Directors
  • (c) At Least 1 of the Directors shall be an Indian Resident
  • (d) The directors and shareholders can be the same person.
  • (e) Minimum Authorised Share Capital to be Rs.2 crores
  • (f) DIN (Director Identification Number) for all Directors
  • (g) DSC(Digital Signature Certificate)for Directors, Shareholders & Witness
  • (h) 1 Witness for MOA / AOA Subscribers
  • (i) RBI Approval is required.

NBFC companies are suitable for financing, loan reimbursements etc.

Points

NBFC

Nidhi Company

Section 8 Co.

Members

2

7

2

Minimum Capital Required

2 crores

5 Lacs

No any limit

RBI Licence

Required

No Need

No Need

Profit Sharing

Yes

Yes

No

Compliance

High

Moderate

Moderate

Profit Earning

Yes

Yes

No

Incorporation Cost

High

Nominal

Nominal

Suitable for

A secured & unsecured loans

Secured Loans & Deposits

Unsecured Loans

Nature of Company

Can be public  Ltd or Pvt. Ltd.

Limited

Can be public  Ltd or Pvt. Ltd.

Working Area

PAN India

District Level

PAN India

Saving Account Opening Facility

No

Yes

No

Deposit Facility

No

Yes

No

Every NBFC has to file an annual return to the ROC of respective States. AOC-4 and MGT-7 is required to file every year.as annual return.

Variou forms are also required to file after incorporation, detailed description will be provided in the compliance booklet.

Yes, a separate PAN card is required for a NBFC company because a NBFC is a separate entity from owners.

As per GST Act, GST registration is mandatory if turnover exceeds Rs 20/40 lakhs but practically many banks require a GST certificate at the time of opening a bank account.

GST monthly/quarterly return is mandatory for all types of business i.e. even in case of NIL turnover GST return is mandatory to file every month/quarterly.

Yes GST registration Number can be surrendered with valid reason

NBFC company a corporate assessee however 30% income tax applicable on NBFC company.

Basic Features of NBFC

Dependency of NBFC

A NBFC has a dependency on the honesty, integrity, and loyalty of the member and workers of the company is managed by amateurs as professional because high-end managers are not affordable because of lack of funds.

No License is required

People are apprehensive before investing in the NBFC as the company doesn't require licensing from RBI. An easy source of loan to members against collateral.

Cheaper to Borrow

As a member, one can borrow money at a minimum rate, relative to the rate at which banks lend money. This can be a major advantage in times of need, as different individuals in the mutual benefit society are likely to need funds at different points in time.

Encourages Savings

A NBFC encourages all its members to save money and encourages a thrifty lifestyle. A NBFC, after all, is a mutual benefit society wherein members can lend or borrow money and accept financial aid amongst them.

Fewer Complications

Borrowing and lending to known persons, where the procedure is fixed, is much less complicated than dealing with banks or in an informal setting. A NBFC enables its members to unlock the potential of their money and gain from lower interest rates when they require money themselves.

Better Credibility

A NBFC enjoys better credibility when compared to Mutual Benefit Organizations. Nidhi companies are registered and monitored by the Central Government. Mutual Benefits Organization is on the other hand governed and monitored by State Governments.

Taxation Impact

Income Tax- Every Private Company is required to file an Income Tax return in Every Year by providing 30% tax on the total income of companies.


Tax Audit– Mandatory in case sales, turnover or gross receipts of a business exceed Rs. One Crore in the previous year relevant to the assessment year.