Skip to main content

Documents required for Micro Finance Company Registration

 

Microfinance services are basically for individuals who do not have enough access to banking and other related services. The privilege of micro financing is given to unemployed and individuals who draw a low income.

Microfinance companies can provide a loan or credit of up to Rs 50,000 in rural areas and Rs. 1,25,000 for urban areas. Such loans are given to small time entrepreneurs, enterprises and low income group.

Here is a list of documents required to register a Micro finance company

  • Copy of PAN card of directors and shareholders
  • Copy of Aadhar card for directors and shareholders
  • Bank statement, electricity bill or telephone bill as address proof
  • Passport size photo

Registered office proof

  • In case of a self-owned property, electricity bill and ownership document is required
  • In case of rented property, electricity bill, rent agreement and NOC from the owner should be obtained.

Conclusion

As India is a fast growing economy having a large population, it is difficult to open banks in every village. This is the reason why micro finance institutions were set up in villages and remote areas in order to support the farmers and small business owner. These institutions are also of great help to unemployed people as well.

At Aavana, we provide top class help to set up your microfinance company. Our experts will help you through the registration process and make sure all your registration is done hassle free.

Call us at +91-80-40909797 to get help with your registration process. We also provide top grade advice regarding for your business and financial issues.

Comments

Post a Comment

Popular posts from this blog

Is the LLP Registration Process the Best Option for Company Registration?

Image
Is the LLP Registration Process the Best Option for Company Registration? When forming an LLP, there are a few requirements that must be met. Will you be able to lawfully form and manage an LLP if and only if you can meet the following requirements? A limited liability partnership (LLP) must be formed by at least two people. There is, however, no upper limit on the number of partners. In the case of an LLP, capital is decided by the business’s needs and the members’ contributions to the partnership. The Stamp Duty on the deed is determined by the amount of capital. To start a business as an LLP, there is no minimum capital need. A resident of India must be at least one of the LLP designated partners. When an LLP’s turnover is equal to or greater than 40 lakh and its total capital contribution is equal to or greater than 25 lakh, its accounts must be audited. Reason for LLP Registration   Use a company’s operational ease and flexibility to your advantage.   Reduce the amount of paperwor
Read more

How to register for professional tax in Bangalore

Image
 How to register for professional tax in Bangalore We all must have come across the term ‘Professional tax registration’ somewhere or the other. But did you ever try to find out what exactly is this PT registration is all about? The next time you get your payslip, take a couple of minutes off to study the break-up of the deductions. You may come across the term ‘Professional Tax’. Do not panic or get confused with this term with Income tax. Both are altogether different terminologies like how a north pole and a south pole differ from one another. However, your salary slip may not mention professional tax because not all Indian states impose it. The states that impose the professional tax are Andhra Pradesh, Assam, Bihar, Gujarat, Karnataka, Kerala, Madhya Pradesh, Meghalaya, Orissa, Sikkim, Tamil Nadu, Telengana, Tripura, and West Bengal. Now in this blog let us know what is a ‘Professional Tax is all about? Professional tax is a tax imposed by the state government. Professional tax is
Read more

Documents of Registered Office for Indian Company Registration

Documents of Registered Office for Indian Company Registration  Registered office proof of the company stating if the property is rented/ leased,   Copy of the rental/lease agreement   Copy of electricity/water bill (business place)   In the case of your own property, a copy of the sale deed and electricity bill is sufficient   Copy of no objection certificate from the owner of the property
Read more