can a Pvt Ltd Company or OPC run domestic money transfer business
if yes then what will be compliance
do I need to register as NBFC to run this business?
anyone please provide opinion
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Money transfer business by OPC or Pvt Co
Replies (3)
- tep 1: Register a company under the Companies Act 2013.
- Step 2: Minimum Net Owned Funds of a Company should be Rs. 2 crores or more.
- Step 3: There must be at least 1 director in a company from the same background.
- Step 4: Good CIBIL score must required to present to register as NBFC.
- Step 5: Next, to visit RBI’s official website and fill in an application form.
- Step 6: Submit the required documents, along with an application form.
- Step 7: Once we have submitted an application form, a CARN number will be generated.
- Step 8: Send a hard copy of the application to the regional branch of RBI.
- Step 9: After an application is checked and verified, the License shall be given to the company.
Is there any other option through which I can run this business by setting up a Pvt Ltd Company?
because I can't fulfill so much compliance
I means any other option to bypass this NBFC requirements because my business is quite small in term of profit
please provide solutions if any
thank you
because I can't fulfill so much compliance
I means any other option to bypass this NBFC requirements because my business is quite small in term of profit
please provide solutions if any
thank you
Agreed
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