NBFC Company Registration

Simplify your business journey with NBFC Company Registration. Get legal protection, limited liability, and complete control over your business without complicated processes. Perfect for individual entrepreneurs.

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NBFC Company Registration

NBFC Company Registration

Simplify your NBFC registration process with our expert team, providing stress-free, transparent, and professional assistance. As a leading NBFC registration company in Bihar, we offer end-to-end services to ensure your NBFC meets all regulatory requirements and is set up for success.

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Documents Required for NBFC Company Registration

  • Identity Proof: PAN card, Aadhaar card, or passport of all directors and shareholders.
  • Address Proof: Utility bills (electricity, water, gas) or bank statements of all directors and shareholders.
  • Company Incorporation Certificate: Proof of incorporation under the Companies Act.
  • Financial Statements: Audited balance sheet and financial statements for the last three years.
  • Business Plan: A detailed business plan outlining the financial activities and projections.
  • Directors’ Profiles: Profiles and qualifications of all directors to ensure compliance with RBI’s fit-and-proper criteria.
  • Net Owned Fund Proof: Bank statement or auditor’s certificate proving a net-owned fund of ₹2 crores.
  • KYC Documents: KYC forms of all directors and shareholders.
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What is an NBFC Company?

A Non-Banking Financial Company (NBFC) is a financial institution that provides banking services without meeting the legal definition of a bank. NBFCs are engaged in a wide range of financial activities, including loans, credit facilities, investments, and asset financing, but they do not hold a banking license. Unlike traditional banks, NBFCs cannot accept demand deposits, such as savings accounts, but they play a crucial role in providing financial services to underserved sectors and promoting economic growth. Registered NBFCs in India are regulated by the Reserve Bank of India (RBI) and must comply with its guidelines.

Benefits of NBFC Company Registration

  • Access to Financial Services: NBFCs provide credit and financial services to individuals and businesses, especially in rural and underserved areas.
  • Flexible Lending Options: NBFCs offer various lending options such as personal loans, business loans, asset financing, and more.
  • Profitability: NBFCs can generate high returns by offering customized financial solutions with competitive interest rates.
  • Lower Regulatory Burden: Compared to banks, NBFCs face fewer regulations, allowing for more flexible business operations.
  • Diverse Product Range: NBFCs can offer a variety of financial products like leasing, hire-purchase, micro-finance, and investment services.
  • Fostering Growth: They play a vital role in supporting small and medium-sized enterprises (SMEs), startups, and individuals by offering tailored financial solutions.
  • No Demand Deposit Restrictions: NBFCs are free from the requirement of maintaining cash reserves like traditional banks, allowing more operational flexibility.

Eligibility Criteria for NBFC Company Registration

  • Minimum Net Owned Fund: The company must have a minimum net-owned fund of ₹2 crores.
  • Directors: The company should have a minimum of two directors, with at least one having prior experience in the financial sector.
  • Company Type: The company must be registered as a private or public limited company under the Companies Act, 2013.
  • Business Activity: The main objective of the company should be to carry out financial activities such as lending, leasing, or investment.
  • Clear CIBIL Record: The promoters and directors of the company must have a clean financial record, with no history of defaults or bad debts.
  • Compliance with RBI Guidelines: The company must comply with the prudential norms and regulations issued by the RBI for NBFCs.

Registration Process for NBFC Company

  1. Incorporate the Company: Register the company as a private or public limited company under the Companies Act, 2013.
  2. Minimum Capital Requirement: Ensure that the company meets the minimum capital requirement of ₹2 crores.
  3. Apply for Registration: Submit the application for NBFC registration to the RBI along with all required documents.
  4. RBI Scrutiny: The RBI scrutinizes the documents, business plan, and financial background of the company and its promoters.
  5. Approval from RBI: Upon verification, the RBI grants the Certificate of Registration (CoR) to the company.
  6. Post-Registration Compliance: The company must ensure compliance with all RBI norms and maintain proper financial records, filings, and audits.

Why Tax Protect

As the top NBFC registration company in Bihar, our experienced team offers end-to-end assistance in NBFC registration, ensuring compliance with all RBI guidelines. We handle the entire registration process, including document preparation, submission, and follow-up with the RBI, ensuring a hassle-free experience. We offer customized services that cater to the unique financial needs of your business model.

Our services don’t stop at registration. We offer ongoing support for compliance, reporting, and audits to help your NBFC remain compliant with RBI regulations. Our competitive pricing ensures you get the best value without compromising on quality or service. We have successfully registered numerous NBFCs, making Tax Protect a trusted name in NBFC company consultancy in Bihar.

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Frequently Asked Questions

The minimum net-owned fund required to start an NBFC is ₹2 crores.

The entire registration process, including RBI approval, can take 4-6 months, depending on document verification.

No, NBFCs cannot accept demand deposits like savings accounts. They can, however, accept term deposits.

NBFCs can engage in activities like lending, leasing, asset financing, and investments, but they cannot operate as full-fledged banks.

Yes, NBFCs are regulated by the RBI and must adhere to its guidelines on capital adequacy, reporting, and compliance.

Yes, foreign direct investment (FDI) is allowed in NBFCs under the automatic route, subject to certain conditions.

Tax Protect offers expert guidance, comprehensive services, ongoing compliance support, and cost-effective solutions, making your NBFC registration smooth and hassle-free.

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