{"id":5066,"date":"2020-03-19T14:53:50","date_gmt":"2020-03-19T09:23:50","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=5066"},"modified":"2024-12-10T17:44:22","modified_gmt":"2024-12-10T12:14:22","slug":"documents-required-for-nbfc-registration","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/documents-required-for-nbfc-registration\/","title":{"rendered":"Documents Required for NBFC Registration"},"content":{"rendered":"\n<p class=\"has-drop-cap\">NBFC is the financial institution that provides a variety of banking and non-banking services to the consumers. NBFCs in India are supervised and regulated by the Reserve Bank of India. Any Company cannot commence the business of Non-Banking Financial Company without obtaining a Certificate of Registration from the RBI. The entire process of <a href=\"https:\/\/corpbiz.io\/nbfc-registration\"><strong>NBFC Registration<\/strong><\/a> from company incorporation till obtaining the Certificate of Registration requires proper documentation. An applicant Company is required to arrange proper documents to obtain a <strong><a href=\"https:\/\/corpbiz.io\/company-registration\">Certificate of Incorporation<\/a><\/strong>.<\/p>\n\n\n\n<p>In this topic, we will discuss the documentation required for NBFC registration, but before that, we will discuss what NBFC, <a href=\"https:\/\/corpbiz.io\/learning\/types-of-nbfcs-in-india\/\">Types of NBFCs<\/a>, and the steps required for NBFC registration. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-nbfc-registration\/#What_is_NBFC\" >What is NBFC?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-nbfc-registration\/#Types_of_NBFC\" >Types of NBFC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-nbfc-registration\/#Steps_Required_in_NBFC_Registration\" >Steps Required in NBFC Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-nbfc-registration\/#What_are_the_Documents_Required_for_NBFC_Registration\" >What are the Documents Required for NBFC Registration?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/documents-required-for-nbfc-registration\/#Takeaway\" >Takeaway<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_NBFC\"><\/span>What is NBFC?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>NBFC is a Non-Banking Financial Company that provides long term and specialized credit facilities and attracts foreign grants. The process of NBFC registration is very lengthy, and the applicant is required to comply with the rules and regulations of <a href=\"https:\/\/corpbiz.io\/rbi\">RBI<\/a>.<\/p>\n\n\n\n<p>NBFCs\nfacilitate all the banking related financial services. The services of the NBFC\nare flexible, which helps the client in getting all the updates and also helps\nin meeting the needs of the specific client.<\/p>\n\n\n\n<p>To carry out the new segment, NBFCs are offering a wide range of products like Financing, leasing, Housing Finance. Through advance technology and enhanced experience, <strong>NBFCs<\/strong><sup><a href=\"https:\/\/www.rbi.org.in\/Scripts\/FAQView.aspx?Id=92\"><strong>[1]<\/strong><\/a><\/sup> are majorly focusing on the customer segment.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Types_of_NBFC\"><\/span>Types of NBFC<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Based\non the kind of activities, NBFC are of 3 types \u2013<\/strong><\/p>\n\n\n\n<ul>\n<li>Deposit-taking NBFCs<\/li>\n\n\n\n<li>Non-Deposit taking NBFCs<\/li>\n\n\n\n<li>NBFC-ND-Systematically Important<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Steps_Required_in_NBFC_Registration\"><\/span>Steps Required in NBFC Registration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Before\nobtaining the NBFC registration, various steps are required to comply with.\nBelow mentioned are the steps that are required before NBFC Registration-<\/p>\n\n\n\n<ul>\n<li>Company Incorporation under the Companies Act,2013.<\/li>\n\n\n\n<li>Net owned fund should be Rs 2 crore.<\/li>\n\n\n\n<li>1 director of the company shall be an Independent Director dealing in the professional capacity.<\/li>\n\n\n\n<li>To register as NBFC, a good CIBIL score of the director\/subscriber is required.<\/li>\n\n\n\n<li>Filing of COSMOS, i.e. Submitting the documents online on RBI&#8217;s official website.<\/li>\n\n\n\n<li>CARN will be generated; once the form is filed by the applicant online along with the requisite documents.<\/li>\n\n\n\n<li>Submission of a physical copy of the documents to the regional branch of Reserve Bank of India.<\/li>\n\n\n\n<li>After document submission, the application is checked and verified by the RBI, and in case of no further verification and query, the department will grant COR to the applicant company.<\/li>\n<\/ul>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/procedure-of-nbfc-registration-in-india\/\">NBFC Registration \u2013 Know the Entire Incorporation Procedure<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Documents_Required_for_NBFC_Registration\"><\/span>What are the Documents Required for NBFC Registration?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>For\nNBFC Registration, various documents are required at the time of incorporation\nor after incorporation of the company.<\/p>\n\n\n\n<ul>\n<li>Certificate of Incorporation of the Company.<\/li>\n\n\n\n<li>Memorandum of Association and Article of\nAssociation.<\/li>\n\n\n\n<li>Detailed Information about the Director and\nsubscriber of the Company-<\/li>\n<\/ul>\n\n\n\n<p><strong>From the Directors-<\/strong><\/p>\n\n\n\n<ul>\n<li>Highest\nQualification Certificate<\/li>\n\n\n\n<li>Id and\nAddress Proof of Director<\/li>\n\n\n\n<li>Experience\nCertificate<\/li>\n\n\n\n<li>Net\nWorth Certificate<\/li>\n\n\n\n<li>Details\nof Directorship in other companies, if any<\/li>\n\n\n\n<li>Business\nProfiles<\/li>\n\n\n\n<li>Banker\u2019s\nreport <\/li>\n\n\n\n<li>CIBIL<\/li>\n<\/ul>\n\n\n\n<p><strong>From the Shareholders-<\/strong><\/p>\n\n\n\n<ul>\n<li>Id and\nAddress Proof of the Subscriber<\/li>\n\n\n\n<li>Banker\u2019s\nReport<\/li>\n\n\n\n<li>Net\nworth Certificate<\/li>\n\n\n\n<li>CIBIL<\/li>\n<\/ul>\n\n\n\n<p>Along\nwith the above documents, documents related to the <strong>Applicant Company<\/strong> and\nits working is also required-<\/p>\n\n\n\n<ul>\n<li>PAN Card\nof the Company<\/li>\n\n\n\n<li>Proper\ndisclosure in the Annexure I, II and III.<\/li>\n\n\n\n<li>Certified COI, <strong><a href=\"https:\/\/corpbiz.io\/learning\/moa-and-aoa-why-they-are-vital-to-setup-an-institution\/\">MOA, and AOA<\/a><\/strong>.<\/li>\n\n\n\n<li>Shareholding\ndetails<\/li>\n\n\n\n<li>Details\nof Banker and Auditor.<\/li>\n\n\n\n<li>Business\nLayout<\/li>\n<\/ul>\n\n\n\n<div class=\"shadow1\"><strong>Note:<\/strong> For NBFC Registration, all the documents are required both in Online and Physical form. The Department or NBFC Consultants can also ask for the other necessary documents apart from the above-mentioned documents.<\/div>\n\n\n\n<p><strong>All the documents shall be self-attested by the directors and the subscriber.<\/strong><\/p>\n\n\n\n<p>Operating the NBFC is equally important as registering the NBFC, and for that, it is important to fulfil the <a href=\"https:\/\/corpbiz.io\/learning\/online-nbfc-annual-compliances-prescribed-by-the-rbi\/\"><strong>NBFC annual compliances<\/strong><\/a>. To avoid the fraudulent practices and for preventing speculation, the compliances of Reserve Bank of India is getting tougher day by day. Proper documentation and compliances are required to be fulfilled by the NBFC to avoid the penalties.<\/p>\n\n\n\n<p>Once\nthe NBFC is registered, it is required to be fulfilled with the Post Registration\ncompliances-<\/p>\n\n\n\n<ul>\n<li><a href=\"https:\/\/corpbiz.io\/income-tax-return-filing\"><strong>Income Tax return<\/strong><\/a><\/li>\n\n\n\n<li>ROC Return<\/li>\n\n\n\n<li>Statutory Audit<\/li>\n\n\n\n<li>NBS Returns<\/li>\n\n\n\n<li>Membership from the Credit Rating Agencies<\/li>\n\n\n\n<li>KYC registration<\/li>\n\n\n\n<li>FIU Registration.<\/li>\n<\/ul>\n\n\n\n<p>All the\nabove-mentioned compliances also require proper documentation and analysis to\nprovide better services and transparency to the borrower.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Takeaway\"><\/span>Takeaway<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Registration of NBFC requires coordination\nwhich ensures better management and conformity of norms. Registration of NBFC\nis required to meet the criteria defined by the Companies Act, 2013 and Reserve\nBank of India. Proper documentation and Compliances results in transparency and\nconfidence in the mind of the people. To build a strong connection, the main objective\nof NBFC is to focus on the needs of the customer and fulfil all the necessary\ncompliances. <\/p>\n\n\n\n<p>For more details, Contact <a href=\"https:\/\/corpbiz.io\/\"><strong>Corpbiz<\/strong><\/a><strong>, <\/strong>our team of professionals will assist you in NBFC Registration and Post compliances after NBFC Registration.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/online-nbfc-annual-compliances-prescribed-by-the-rbi\/\">Are you running an NBFC? Get updated about the list of Annual Compliances Prescribed by the RBI\n<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NBFC is the financial institution that provides a variety of banking and non-banking services to the consumers. NBFCs in India are supervised and regulated by the Reserve Bank of India. Any Company cannot commence the business of Non-Banking Financial Company without obtaining a Certificate of Registration from the RBI. The entire process of NBFC Registration [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":5069,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[91],"tags":[408],"acf":{"service_id":"8"},"authorName":"Priyanka Bajpayee","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/03\/IMG-20220303-WA0005.jpg","authorDescription":"A Company Secretary together with PG in international Business, she has gained significant experience as legal content writer. She has keen interest in doing research and writing on legal and financial subject matters. She also holds work experience in legal compliances.","postViews":12117,"readingTime":3,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/5066"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=5066"}],"version-history":[{"count":11,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/5066\/revisions"}],"predecessor-version":[{"id":67694,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/5066\/revisions\/67694"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/5069"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=5066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=5066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=5066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}