Micro finance companies are mostly Registered under section 8 of Companies Act, 2013.These are financial institutions to provide finance to low-income group, therefor they are commonly named as a micro-credit, micro-benefit organization. The main object of the section 8 microfinance companies are to reduce the poverty in the country, they facilitates the hassle-free loans without more paper works and procedures. No RBI approval is required for registration of such companies. Also there is no capital requirement for formation of such companies. The companies are formed with a social objective to help poor people or to reduce poverty. Maximum of Rs. 50,000 can be given by a micro-finance company for business purpose and Rs. 1,25,000 for residential dwelling.
It generally takes 25-30 days for registration of a micro-finance company.
Documents required for a micro finance company:
For Director/ shareholder: PAN card, Aadhaar card, Address proof (Bank statement, mobile bill, telephone bill), passport size photo.
For registered office:
Ownership proof- electricity bill, rent agreement, NOC from owner
Utility bill- Electricity bill, gas bill etc.
Our Services
- Digital Signature Certificate (DSC) of 2 members.
- Director Identification Number (DIN) of 2 members.
- Name Approval.
- RD Approval.
- MOA, AOA and Certificate of Incorporation.
- PAN and Tan of company.
- Assist in Bank account opening.
- GST Registration.
- Professional service.
Total Cost to Register Micro Finance Company in India Rs. 18,000/-
