Microfinance Company Registration in PATNA by CAPLUS

Microfinance companies play a vital role in empowering low-income groups by providing small loans to meet their financial needs. These companies offer financial inclusion opportunities to those who lack access to traditional banking services. If you’re planning to set up a microfinance company in India, CAPLUS , can guide you through the entire registration process, ensuring compliance with all legal requirements.

What is a Microfinance Company?

A microfinance company is a financial institution that provides small loans without requiring collateral. These loans are typically aimed at helping underserved communities, small businesses, or individuals with limited resources.

Microfinance companies can operate as:

1. Non-Banking Financial Company (NBFC-MFI): Registered under the Reserve Bank of India (RBI).

2. Section 8 Company: A non-profit entity that also offers microfinance services.

Why Register a Microfinance Company?

1. Legal Recognition:

Official registration provides legal status and credibility.

2. Access to Funding:

Easier access to loans or grants from banks and other financial institutions.

3. Tax Benefits:

Registered companies may enjoy certain tax exemptions

4. Social Impact:

Serve low-income individuals and create a positive impact on society.

How to Register a Microfinance Company with CAPLUS

CAPLUS, simplifies the complex process of microfinance company registration. Here’s a step-by-step guide:

1. Decide the Type of Microfinance Company

NBFC-MFI: If you plan to work on a large scale, NBFC registration under RBI is recommended.

Section 8 Company:

For non-profit microfinance operations.

2. Name Approval

CAPLUS will help you select and register a unique name for your company under the Companies Act, 2013.

3. Drafting Key Documents

Our team drafts the essential legal documents, including:

Memorandum of Association (MOA)

Articles of Association (AOA)

4. Obtain Digital Signatures (DSC) and Director Identification Number (DIN)

We ensure all directors have valid DSC and DIN for online document filings.

5. Apply for Company Registration

CAPLUS submits your application to the Ministry of Corporate Affairs (MCA) with all required documents, such as:

MOA and AOA

Proof of registered office address

ID and address proof of directors

6. RBI Approval (For NBFC-MFI)

For NBFC-MFIs, RBI approval is mandatory. CAPLUS assists in filing the application with supporting documents like a business plan, capital adequacy proof, and more.

6. PAN, TAN, and Bank Account

We help you obtain your company’s Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN), and set up a corporate bank account.

Documents Required for Microfinance Company Registration

1. For Company Registration

ID and address proof of directors
Passport-sized photographs
MOA and AOA
Office address proof

2. For RBI Approval (NBFC-MFI):

Capital proof (minimum ₹2 crores)
Business plan
Financial projections for the next 5 years

Why Choose CAPLUS for Microfinance Company Registration?

1.Expert Guidance
Our professionals handle all technicalities, ensuring smooth registration.

2.End-to-End Support
From document preparation to RBI approval, we assist at every step.

3.Affordable Packages
Tailored solutions to fit your budget.

4.Quick Turnaround
We ensure timely processing, saving you valuable time.

Benefits of Starting a Microfinance Company

Social Impact:

Promote financial independence among underserved communities.

Growing Market:

Tap into India’s expanding rural economy.

Government Incentives:

Enjoy various schemes supporting microfinance initiatives.

What is the minimum capital requirement for registering an NBFC-MFI?

How long does it take to register a microfinance company?

Can a microfinance company operate without RBI approval?

How does CAPLUS simplify the registration process?

Are there tax benefits for microfinance companies?

What is the difference between an NBFC-MFI and a Section 8 company?

Registering a microfinance company in India requires a clear understanding of legal processes and compliance. With CAPLUS , you get expert support for a smooth registration journey. Whether you’re looking to register an NBFC-MFI or a Section 8 company, CAPLUS ensures every step is handled with precision.

Get started today with a free consultation and take your first step toward empowering financial inclusion in India. Contact CAPLUS for more information!