Introduction
Chit Fund Company is one of the famous types of finance company which of course do not have sound background. In the past, people have used the Chit Fund Company to defraud crore of the rupees and hence government has decided to regulate the complete business of Chit Fund.
Now, no person in India can start a Chit fund business until and unless he is registered with Chit registrar. Every city or district has a chit registrar where you need to go and apply for chit fund registration. However, before you go there, you must register a Chit Fund Company in India under Companies Act and then register apply for license with Chit Registrar.
Further, one of the important things to incorporate a chit fund company is the required documents. If the documents for chit fund company registration are not arranged properly then you will not be able to get the company registered.
Here is the list of documents required for chit fund company registration.
Personal documents of director
- PAN Card
- ID proof (Voter ID card, Aadhar card, Driving license, passport) – anyone
- Address proof (Bank statement, electricity bill, mobile bill, telephone bill)
- Passport size photo
Registered office docs
- Electricity bill
- Rent agreement (in case the premises are on rent)
- No objection certificate (NOC)
Further, apart from this, here are certain points which may be useful for chit fund company registration:
- Once the company is incorporated, you need to apply for local license for chit fund business before starting the business in India.
- Minimum 2 persons are required to start a business in India.
- Minimum capital of one lakh is required to start a chit fund company.
Conclusion
In case you want to register a Chit fund Company in India, please email us at info@hubco.in.