NBFC Company (Non-Banking Financial Company )
We have a completely dedicated Team for NBFC registration which has helped many companies in getting NBFC licence in record time.
We provide following services:
- NBFC Registration with Registrar of Companies
- NBFC Business Plan
- NBFC License from RBI
- Assistance in meeting RBI Compliance
- Support for Audit and Secretarial Compliance
- NBFC Merger/Demerger
- NBFC Takeover & Stake Sale
- NBFC Business Re-structuring
- NBFC Contract Drafting
An NBFC, also known as Non-Banking Finance Company is a private or public limited company registered under Companies Act, 2013 and also have obtained Certificate from Registration (COR) from the Reserve Bank of India.
The NBFC is primarily engaged in the business of providing loans and advances, acquisition of shares and stocks and other investible securities. RBI grants license to the NBFCs to carry out the business of providing various kinds of loans such as Personal Loans, Asset Financing, SME Lending, Gold Loans, Loan against Property, Loan against Shares, Short term Personal Loans etc.
Steps to Incorporate NBFC
Step No.1: Register a new company with Minimum Net Owned Fund of INR 2 crore (Equity Share Capital)
Step No.2: Open a Bank Account (Entire sum of INR 2 crores is required to be kept in a bank’s deposit account which is free from all liens)
Step No.3: Apply Online for Certificate of Registration to RBI along with detailed Business Plan
Step No.4: Submit documents to the Regional Office of RBI (Alongwith list of Documents Checklist required)
Step No.5: Certificate of Registration (COR) is Granted !
Note: Application once filed, is reviewed by RBI. Further documents/clarifications may be sought from time to time. If application is considered complete in all respects and all required documents/information are furnished to its satisfaction. RBI grants Certificate of Registration to carry on business of NBFC.
There are certain compliances to be met after the completion of the NBFC Registration. Moreover, guidelines, circulars, and notifications, from the RBI, published in the public domain from time to time, are to be complied with.
Companies for NBFC by RBI
- Adoption of Fair Practice Code,
- COSMOS Registration,
- FIU-IND Registration,
- CIC Registration,
- C-KYC Registration,
- CERSAI Registration,
- Filling of NBS-9 by using the Online Platform of RBI (COSMOS),
- Secretarial compliances,Compliance of KYC Anti-money Laundering.
Compliances under other Statutes
- Appointment of Statutory Auditor (CA with 5+ years of experience),
- Statutory Audit,
- Tax Audit,
- GST Return Filing,
- Income Tax Return Filing,
- ROC Returns,
All other Compliances/Returns required by a competent authority.