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Section 8 Microfinance Company Registration Process

Section 8 Microfinance Company is company providing financial helps to the small business groups. Registration of the Section 8 Microfinance Company is very important. LegalPillers is here to help you with the hassle-free registration of the Section 8 Microfinance Company. Choose LegalPillers as your trusted partner for registering the company.

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Section 8 Microfinance Company Registration Process

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  1. SECTION 8 MICROFINANCE COMPANY REGISTRATION PROCESS WWW.LEGALPILLERS.COM/

  2. SECTION 8 MICROFINANCE COMPANY Section 8 Microfinance Company has been registered under the Companies Act 2013 of India who has an objective of providing the loans & other financial help to the groups of small business who have not been included in the formal banking system due to any reason including poverty, occupation, ethnicity, religion, or nationality. It is the most suitable option to register a Section 8 Microfinance Company if you want to start a finance business anywhere in India without any interference & approval from the RBI i.e. Reserve Bank of India and with no capital restriction. It can be start with the social aim of helping poor people for reducing poverty.

  3. NEED OF SECTION 8 MICROFINANCE COMPANY A Section 8 Microfinance Company is needed because of the following reasons: • Provides financial assistance for the enterprises that are not able to lend anything as guarantee. • Encourages the women entrepreneurship • Provides too much support needed by the startups. • Offers assistance also for the smaller amounts

  4. FEATURES OF SECTION 8 MICROFINANCE COMPANY • No need of the approval of RBI • Can provide unsecured loan • No demographic barrier • No requirement of minimum capital • Defaulters of loan repayment can be sued for non-payment • High rate of interest (may be up to 26% p.a. interest rate) • Limited compliances • Engaged in the other activities also including education, health, environment, sanitation, and many more. • Registered with ROC i.e. Registrar of Companies as a non-profit organization

  5. SECTION 8 MICROFINANCE COMPANY REGISTRATION PROCESS ONLINE Step 1: Planning & Documentation Before going for the registration, you should make sure that you have all the required documents. Step 2: Apply for DSC The next step involves applying for the DSC i.e. Digital Signature Certificate of all the directors

  6. Step 3: Name Approval After that, you should have to select a unique name for your company and must check its availability. Step 4: Company Registration Application Then, you are required to fill the online application which is SPICe form available on the MCA Portal along with your documents including MOA & AOA. Step 5: Incorporation Certificate Issuance After the approval of the documents from MCA i.e. Ministry of Corporate Affairs, PAN, TAN & Certificate of Incorporation will be issued to you.

  7. DOCUMENTS REQUIRED FOR SECTION 8 MICROFINANCE COMPANY REGISTRATION FOR DIRECTORS: FOR PROPOSED REGISTERED OFFICE ADDRESS • PAN card of both the directors • Aadhaar Card of both the directors • Bank statement of both the directors with address (not older than 2 months) • Passport size photographs of both the directors • Email address & phone numbers of both the directors • Copy of any utility bill • Copy of NOC from the owner

  8. REGISTRATION FEES OF SECTION 8 MICROFINANCE COMPANY +91 9267941961 The registration fees to register a Section 8 Microfinance Company will be around Rs. 50,000/- info@legalpillers.com www.legalpillers.com/ C-49, near Bikaner,East Krishna Nagar, Krishna Nagar,Delhi, 110051

  9. CONCLUSION SECTION 8 MICROFINANCE COMPANY IS COMPANY PROVIDING FINANCIAL HELPS TO THE SMALL BUSINESS GROUPS. Registration of the Section 8 Microfinance Company is very important. LegalPillers is here to help you with the hassle-free registration of the Section 8 Microfinance Company. Choose LegalPillers as your trusted partner for registering the company.

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