ramanathan (assistant engineer) 14 December 2013

Starting finance company in india

Hello All,

I want start a finance company with investment of few lakhs. so what are all the document necessary to register as a company?

I could see in RBI site, its said that, we need to invest around 2 crore in RBI to register as NBFC

But I plan to start in my home which is come under Town panchayat., tamilnadu and I Dont have that much of money.

so Could anyone guide me to do this business legally accepted by govt and provide the info like how to register? where to register? and list of needy document....etc...

Thanks in advance for your guidelines

Regards,

Ramanathan

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7 Replies

Hemant Agarwal (ha21@rediffmail.com Mumbai : 9820174108) 14 December 2013

Instead of starting a Finance Co. and since you have only few lakh rupees, it would be best (initially) to start a Prop. Firm and obtain Money Lenders licence from the local authority. This will be more simpler and easier to manage and gain experience.

Keep Smiling .... Hemant Agarwal
https://hemantagarwal21.blogspot.in/?view=sidebar

Udaya Shankar. C (Retired) 15 December 2013

You can start a private Ltd company with minimum capital and RBI sure will give permission with out an upper limit for investment. Its easy to register a Pvt Ltd company.

ramanathan (assistant engineer) 15 December 2013

would you provide me what are the steps by step process to register as pvt lt?

SACHIN AGARWAL (ADVOCATE) 20 December 2013

Firstly check the present minimum requirement of funds for obtaining the licence of finance company. I think it is about 5 Crores.

Pawan Kumar (JOb) 21 December 2013

You can start financial consultancy company with Minimum paid-up capital of Rs. 1 Lacks. For detail clarification & registration you may contact me at rajotiapawan@yahoo.co.in.

Ranjan (founder) 09 January 2014

First, select your business entity type -- are you going to be an S corporation? C corporation? Sole proprietor? Partnership? LLC? This will affect your license and permit requirements. Do some research and decide which entity type is best for you. You should consult with a lawyer or legal advisor during this process. One you've done so, check at the state, county, and city level of government to determine your license and permit requirements. This will be based on your entity type, your type of business, and your location. Good luck!