Micro finance Section 8 Company Registration

@180000- only

MicroFinance Section 8 Registration can be done by 2 directors with minimum share capital of one lakh. MFI don't need RBI licence for working. This is best way to provide Group loan, personal loan, unsecured loan to any individual in India. Start Your registration with 50000 Advance.

All about Micro finance Section 8 Company Registration

A Company can be registered as a Company under Section 8 of the Companies Act, 2013 (earlier section ‘25’ of Companies Act, 1956 which is governed by Ministry of Corporate Affairs. Company incorporation documents and Section 8 license will be provided by the MCA. We don’t need to take any other license from any other department like RBI, Local authority Etc.

Micro finance company can work in the field of micro loans, group loan and every type of unsecured loan all over India. Last name of micro finance companies are foundation, Forum, Association, Federation, Chambers, Confederation, council, Electoral trust and the like etc.

Middle name for the Micro finance companies can be:

1) Micro Finance

2) Micro Credit

3) Micro Benefit etc…..

Consult Now

Reasons for Limited Liability Partnership

Documents Required

1. Pan Card

Individual PAN card of all directors and shareholders are required for registration. In company separate PAN card will applied by us at the time of Company registration.


PAN

2. Aadhaar Card

For Company registration we need Adhaar card of all directors and shareholders..



aadhar

3. Bank Details

One document from the option is required (Bank statement/ updated bank passbook/ Utility bill )



CURRENT ACCOUNT STATEMENTS

4. Business address proof

Any utility bill like electricity bill or water tax bill is required, in case property is rented in than rent agreement with owner is required.



Electricity bill
Smiling confident businesswoman posing with arms folded. Happy beautiful black haired young Latin woman in formal suit standing for camera over white studio background. Corporate portrait concept

Reasons for Sole Proprietorship

1. Type of loans

Microfinance section 8 company can provide Group loan ( Mahila Loan) , Personal loan, unsecured loan upto 50,000/- per person for personal or business use. They can provide loan upto 1,25,000/- for meeting the cost of dwelling unit to any poor person for enabling him to raise the level of income and standard of living. Company cannot take any assets as a security of loan, because only unsecured loan can provide by the company. No secured loan allowed in Section 8 Company.

2. Rate Of Interest

Maximum rate of interest in the Micro finance company can be 26%, this can be fixed or reducing as per the requirement of company, Government don't have any guidelines over it.

3. Multiple Office

Unlike Nidhi company, micro finance section 8 can work in multiple state with multiple office. Company need not to take permission for multiple offices.

4. No RBI license

Micro finance section 8 companies are exempted from taking license from the RBI. The exemption notification is RBI/2015-16/15 DNBR (PD) CC.No.052/03.10.119/2015-16 Dated July 01 2015.

5. Low Investment

Unlike NBFC, micro finance company dont need investment of 2 Crore, this company can be created with initial investment of 1 laknh only.

REGISTRATION PROCESS

Step-1

Expert advice

Get a call from expert so as they can understand business

Step-2

Name approval

Take a name approval from ministry of corporate affairs which you desired for your proposed firm

Step-3

Documents submission

Send all the documents according to your business requirement as suggested by the expert.

Step-4

Digital signatures

Get digital signatures of all partners for signing

How Ovakil help with MicroFinance registration?

Ovakil helps you for registering Microfinance Section 8 Registration,it usually take 15 days for all process

1. Company Incorporation certificate

We will provide company incorporation certificate after all process, this certificate is important for every company and required as a proof of company registration

2. Partners DSC and DIN

Every director needs digital signature and director identification number (DIN) for company registration, we will provide all DSC and DIN.

3. PAN and TAN

Permanent account number (PAN) and Tax allocation number (TAN) will be provide by us in this registration.

3. MOA and AOA creation

Memorandum of association (MOA) and Article of association (AOA) will prepared after understanding your business needs.

HOW OVAKIL HELP IN OPC REGISTRATION ?
FAQ

FAQs

Maximum rate of interest can be charge in Micro finance company is 26% Per annum. This interest can be fixed or reducing

nec ullamcorper mattis, pulvinar dapibus leo.

Free Consultation

Any Doubts? Get a Callback from Ovakil Legal Panel.

Latest from the blog

PACKAGES

sILVER

all inclusive fees
180000 Monthly
  • Section 8 Company registration
  • 2 DSC
  • 2 DIN
  • Expert advice

GOLD

all inclusive fees
225000 Monthly
  • Section 8 Company registration
  • 2 DSC
  • 2 DIN
  • Software
  • Expert advice

Platinum

all inclusive fees
235000 Monthly
  • Section 8 Company registration
  • 2 DSC
  • 2 DIN
  • Software
  • Trademark Registration
  • Expert advice
All over india services provider

Why to choose ovakil?

FASTER SERVICES


Faster services

We provide faster services, we had a team of professional who provide services to you 7 days a week.

FREE COUSULTANCY


free cousultancy

Our Team is just one call away to provide solutions to your all tax querries at free of cost.

TEAM OF CA, CS & LLB


team of CA, CS & LLB

We had a huge team of experienced Professionals CA,CS, LLB and Tech experts.

LOWEST PRICE


Lowest price

We provide our services to our costumers at lowest price in INDIA

We are Very Glad to Know Our Client Reviews