NBFC (Non-Banking Financial Company) Registration - Fees, process, Documemnts Required.
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Public Ltd Company Registration in India - Online Process, Documents Required, Fees
Updated on Feb 11, 2024 10:39:28 AM
NBFC Registration
What is not included under NBFCs?
And if the company is engaged in other activities, then it is not registered as an NBFC. Some of the activities are:
- Agriculture activity
- Industrial activity
- Purchase/sale of any goods
- Providing any services and sale/purchase/construction of the immovable property
Regulations of NBFC
| Company Type | Regulators |
|---|---|
| NBFCs registered with RBI | Regulation, supervision, surveillance and enforcement under RBI |
| NBFC regulated by other regulators | Depends on the type of institution |
| Housing Finance Institutions | National Housing Bank |
| Merchant Banking Company/Venture Capital Fund Company/Stock Broking/Collective Investment Schemes (CIS) | Securities Exchange Board of India |
| Nidhi Companies and Mutual Benefit Companies | Ministry of Corporate Affairs |
| Chit Fund Companies | State Government |
| Insurance Companies | Insurance Regulatory and Development Authority |
| Non-Banking Non-Finance Companies | Regulation, supervision, surveillance and enforcement under the Companies Act 195 |
Pre-requirements of NBFC
For a company to be considered an NBFC, it should be registered as per the rules, regulations, and provisions mentioned in the Companies Act 2013 of the Companies Act 1956.
The minimum owned fund for this should be Rs.2 crore and this shouldn’t be borrowed fund. (This limit is different in other cases like that of specialized NBFCs like NBFC-MFIs, NBFC Factors, CICs, as it is decided on the kind of NBFC). Any gift from spouse comes under owned-funds.
At least 1/3rd of the directors must have some experience in finance.
Also, there must be a detailed plan for the next 5 years.
NBFCs as sponsors of IDF-MF
For a company to be considered as IDF-MF, the minimum owned fund should be at least Rs.3 crore, CRAR of 15% and NPA not more than 3% of the net advances. Along with this, the company should be operational for the last 5 years and profitable in the last 3 years.
NBFC Registration Fees
The government fee is approximately Rs. 3,50,000. When added to the professional fees, the total amount could reach Rs. 15 lakh. However, by utilizing our services, you can register at a cost of Rs. 6,00,000 plus government fees.
Documents Required for NBFC Registration
Key documents necessary for NBFC registration in India include:
- Company Incorporation Certificate
- Memorandum of Association and Articles of Association
- Documents verifying the company’s location
- Comprehensive information about Directors or Partners
- Audited accounts of the company for the past three consecutive years
- Board Resolution supporting NBFC establishment
- Bank Account with a minimum paid-up equity share capital of INR 2 Crore
- Income tax Permanent Account Number (PAN) and other relevant documents
Why Taxvilla
On average, it takes around 7-10 working days to register a private limited company in India subject to document verification by MCA.
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