WANT TO EARN A STEADY INTEREST INCOME AND HELP NEEDY THE SAME TIME, THEN THIS IS FOR YOU

Micro Finance Company Registration

@1,90,000/-

Earn the most secure and steady interest income and help the needy by providing them short term credits through your own Micro Finance Company Registration in just 7 working days.

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Micro Finance Company Registration

Online Micro Finance Company Registration in India at just Rs. 1,90,000/- (all inclusive)

It is a known fact that only 20.77% of the total population of the country has access to bank loan facilities due to reasons like lack of awareness among rural people, illiteracy, etc. Out of this 20.77%, only 8.63%  are eligible for bank loans as the banks have very strict criteria for loan eligibility thus, depriving a large chunk of the population from the benefits of credit facilities from organized lending channels of the country. To provide easy and seamless access to the short term credit facilities to the poor and needy people of the country, the Government of India along with RBI has introduced the concept of Micro Finance Companies in India. The basic objective behind these companies is to provide short term credit facilities to that section of society which is either having no access to the banking channels or is ineligible to meet the hefty banking criteria.

There are 2 types of Micro Finance Companies which are popular in India:

1) Non Banking Finance Company- Micro Finance Institutions (popularly known as  NBFC-MFI): This type of Micro Finance Company has to get itself registered with RBI separately. It also has to maintain a minimum Net Owned Funds (NOF) of Rs. 2 Crores to Rs. 5 Crores, depending on states to states.

2) Micro Finance Section-8 Company: This type of Micro Finance Company is not required to register itself with the RBI and thus is not required to maintain a minimum NOF of Rs. 2 Crores.

We at Vakilgiri, helps our prospective clients to start their Micro Finance Business in no time. Though, we at Vakilgiri offers registration of both types of Micro Finance Companies (i.e., NBFC-MFI and Micro Finance Section-8 Company) but being a responsible and leading consulting firm in the market, we suggest that if our client is new in the field of micro-financing, he/she should go for the Micro Finance Section-8 Company as it has following advantages over the other type of Micro Finance Companies:

1) No Separate RBI approval

2) No requirement to maintain minimum Net Owned Funds (NoF) of Rs. 2 Crores

3) Easy and fast incorporation as compared to NBFC-MFI 

4) Less cost of registration than in case of NBFC-MFI 

5) Less legal compliances in comparison with NBFC-MFI

Vakilgiri a leading Business Consultant, offering quick Micro Finance Company Registration Service in India with five simple steps:

1) First and foremost, we will apply for your Digital Signature Certificate and Director Identification Number

2) Choosing a Unique Name for your Company.

3) Compiling Forms, Documents, AOA & MOA of your Company.

4) Filing e-forms with MCA.

5) Allotment of COI, PAN & TAN

Features of Micro Finance Company Registration

Features you can't resist

Separate Legal Entity

Just like any other company, Micro Finance Section-8 Company, its directors and shareholders are distinct persons and have a separate identity Thus, their liabilities in the company are limited to the shares of the company held by them.

Loans to small business houses and to poors for dwellings

Micro Finance Company Registration helps in upliftment of the poor and weaker section of the society by providing unsecured loans to small business upto Rs. 50,000/- and to poor people for their dwelling residence upto RS. 1,25,000/-.

No prior RBI Approval

Unlike any other Micro Finance Companies, the Micro Finance Section-8 Company is not required to take any prior RBI approval/ registration. However, Micro Finance Section-8 Company is also governed by the RBI guidelines after its incorporation.

No Minimum Capital Requirement

The RBI has exempted the Micro Finance Company to have any minimum paid-up capital requirements which means, you can start your microfinance business with nominal amount.

Upliftment of weaker section of the society

Micro Finance Company is incorporated with the objective to provide short term credit facilities to that section of society which is either having no access to the banking channels or is ineligible to meet the hefty banking criteria.

No Minimum Capital Requirement

The RBI has exempted the Micro Finance Company to have any minimum paid-up capital requirements which means, you can start your microfinance business with nominal amount. 

Minimum Compliances

Micro Finance Section-8 Company have the advantage of less legal compliances over the other type of micro finance companies.

Steady Source of Income

Micro Finance Section-8 Company enjoys the benefit of having a steady income in the form of Interest income.

Earn interest upto 26% p.a

A Micro Finance Section-8 Company can earn interest upto 26% p.a on loans advanced. Thus, it gives an additional edge to the Section 8 Micro FInance Companies over organised banking sector.

What's Next ?

Documents Required

This is all we need from you

FAQ's

Few doubts important to be resolved quickly

In some of the cases, Micro Finance Company can charge upto 26% p.a on the money advanced by it.

The Micro Finance Company can charge processing fees maximum upto 1% of the gross loan amount sanctioned by it.

You can expect an annual expenditure of around Rs.25000 which involves  3 important aspects: Accounting & Auditing, Annual Compliance & Misc. Compliance expenditure.

A Micro Finance Section-8 Company can give only unsecured loan to small business houses of amount upto Rs.50,000/- and to the poor people for their dwelling residence of amount upto Rs.1,25,000/-

No, a Micro Finance Section-8 Company is not allowed to accept any kind of deposits from anyone.

No, Section 8 Micro Finance Company is strictly prohibited from accepting any kind of security against loan provided by it. It means that Section 8 Micro Finance Company is only allowed to extend unsecured loans to its borrowers.

No, Section 8 Micro Finance Company is strictly prohibited for charging any  prepayment penalty on early repayment of the loan.

Section 8 Micro Finance Company can be incorporated with just 2 members acting as the subscriber of its MOA and AOA.

No, Section 8 Micro Finance Company incorporation process is a fully online process as all the documents and e-forms are to be filed electronically on MCA Portal. You just need to send us scanned copies of all the required documents & forms. So, your physical presence is not required at all.

The DSC is just like your ordinary signature having extra security features like encryption, etc. It enables you to sign the documents like PDF electronically.

MOA & AOA contains all the rules, vision and mission of your Section 8 Micro Finance company, and defines the exact roles and responsibilities of shareholders and directors.

There is no minimum paid-up capital requirements for the Incorporation of Section 8 Micro Finance Company as in the case of other Microfinance Companies. This means you can start a Micro Finance Company with a nominal amount.

No, Section 8 Micro Finance Company is not required to take any prior approval of RBI before starting its lending business. Thus, the Company can start its lending business as soon as it gets incorporated. However, Section 8 Micro Finance Company is required to comply with the RBI guidelines.

It is mandatory for the Section 8 Micro Finance Company to include the words foundation, Forum, Association, Federation, Chambers, Confederation, council, Electoral trust and the like etc.

Yes, some of the states provide privileged rates for stamp duty on MOA/ AOA of Micro Finance Companies or on increase in authorized share capital. 

No relaxation of the special rate of stamp duty has been provided by any of the states in respect of stamp duty payable on issue of share certificates by Section 8 Micro Finance Company. 

As in the case of other companies, no stamp duty is payable on the transfer of shares, the same is applicable for Section 8 Micro Finance Company also.

 No, a foreign company cannot be registered as a Section 8 Micro Finance Company in India.

No. a one-person company cannot be incorporated as a Section 8 Micro Finance company or cannot convert into a Section 8 Micro Finance Company. 

No,  a one-person company cannot become a member of Section 8 Micro Finance Company as a one-person company is not allowed to invest in any securities of any body corporates.

Yes, a Partnership firm or an LLP can become a member of Section 8 Micro Finance Company in its individual capacity. 

Yes, a registered Trust can become a member of Section 8 Micro Finance Company. 

Yes, a Co-operative society can become a subscriber/ member of a Section 8 Micro Finance Company. 

Yes, Section 8 Micro Finance Companies can receive contributions from overseas or non-residents provided it has to comply with the Foreign Contribution and Regulation Act, 2010 and take prior approval of RBI before it can receive any donations from outside India. 

No, Section 8 Micro Finance Companies enjoy limited liability status even without adding the words “Limited” or “Private Limited”.

Yes, Section 8 Micro Finance Company is eligible for the benefits which are provided under the various laws in India such as exemption from GST registration under the GST law, registration under section 12A and 12 AA under the Income Tax Act,1961.

No, Section 8 Micro Finance Company has to separately apply for registration under the various Sections of The Income Tax Act, 1961 to avail the benefits available for organisations engaged in charitable activities under the Income Tax Act, 1961.

Check Company Name Availability

Our systems will check availability of your Company Name

Micro finance Company Registration Procedure

More simple than it looks!

Preprations of Digital Signature (DSC)

1st we apply for DSCs of all the Directors & members. Digital Signatures are required for signing all the documents while incorporating your Section 8 Micro Finance company.

20%

Filing Application for Director's DIN

After successful allotment of DSCs of the directors, we will apply for Director Identification Number (DIN). It is the unique number allotted by the MCA to each of the directors of the Section 8 Micro Finance Company.

30%

Choosing Unique Name for your Section 8 Micro Finance Company

Meanwhile applying for your DSCs, we help you in selecting Unique Name for your dream Section 8 Micro Finance Company. This process completes in a single day.

40%

Allotment of COI, PAN & TAN

After obtaining approval from MCA, it will issue  Certificate of Incorporation, Permanent Account Number (PAN), TAN.

Yipee! Company Incorporated 100%

Filing e-forms with MCA

After completing all the formalities and documentation work, we upload e-forms along with the attachments prepared in step-4 on the MCA portal for approval.

80%

Preparing Forms and Documents

After the approval of the Company’s name, we prepare all the e-forms and other documents. Some documents need to be signed by you physically.

60%

We give more than we get

Our Pricing worth every penny of yours. Won't Believe? Check now

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Our Incredible Packages

Irresistible Pocket friendly Packages

GOLD

₹219999
190000/- (all inclusive)*
  • Registration within 2 weeks
  • Authorised Capital upto 15 lacs
  • MOA & AOA e-copy
  • 2 DIN & 2 DSC
  • Name Approval Letter
  • PAN/ TAN Certificate
  • Certificate of Incorporation
  • GST Registration
  • MSME Registration
  • Company Common Seal
  • Trademark Registration
  • Website Development
  • Physical Delivery of all papers
POPULAR

PLATINUM

₹219999
200000/- (all Inclusive)*
  • All Gold Features included
  • GST Registration
  • MSME Registration
  • Company Common Seal
  • Coloured Printed MOA & AOA
  • Laminated COI
  • Laminated PAN/ TAN Certificate
  • Functional Informative Website
  • Free Domain & Hosting
  • Basic On-page SEO
  • Google Analytics & Email Setup
  • Physical Delivery of all documents
  • Micro Finance Software
  • Android App
RECOMMENDED

DIAMOND

₹299999
277000/- (all inclusive)
  • All Platimun Features included
  • Authorised Capital upto 15 lakhs
  • All Laminated Certificates
  • Trademark Registration
  • MSME Registration
  • Logo Designing
  • Beautiful Informative Website
  • Micro-Finance Software
  • Android App
  • Free Hosting & Domain
  • Basic On-page SEO
  • Google Analytics & Email setup
  • 1 Year Website Support
BEST IN VALUE

Testimonials

See what our client feels about us

Why Choose Us?

Features you can't resist

7 Working Days

We provide the fastest Company Registration Services in India. Thanks to our dedicated professional team who understands the importance of time.

Dedicated Personal Assistant

We have n-number of teams of professionals assigned dedicated to your work only. We ensure Quality over Quantity.

Lowest Price In India

We work on very nominal fees. We understand the worth of your hard earned penny. Thus committed to serve you the best and at the lowest prices.

Best Customer Support

We are available with you even on Weekends. You can connect with us anytime and anywhere through our website chat, whatsapp, Phone, text msg, etc. Its easy to get in touch with us.

Easy Uploads & Downloads

We provide free Application to our Clients for easy uploading documents, downloading invoices & documents and easy payments through one app.

Still have some doubts?

Don’t  Worry, our Professionals will sort out all your queries. We believe in building relationships with our Clients. You are just  ONE CLICK away  from us. Feel free to fill this form

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