Importance and Process Of NBFC Registration In India

In this article, we are going to discuss the online process of an NBFC or the non-banking financial company and the process of the NBFC Registration. Let us start with what it is first.

WHAT IS A NON-BANKING FINANCIAL COMPANY (NBFC)?

Non-banking financial company or as its short abbreviation is NBFC is a kind of registered company that gets registered under the company’s act. These NBFCs get engaged in businesses like lending loans and other advances. It also gets involved with the acquisitions of banking like activities such as shares, stocks, debentures, bonds and securities. All of which are issued by the government or the local authorities.

The principal business of receiving deposits is followed by a non-banking financial company under a scheme or a certain arrangement in a one lump sum amount or in instalments by the way of contributing or perhaps in another certain manner. This also falls under the non-banking financial company activity (a residuary non-banking financial company).

WHAT IS THE DIFFERENCE BETWEEN BANKS & NBFCS?

Non-banking financial companies lend money and make certain investments and this is why their activities are recognized to be similar to that of a bank’s activities. However, there are still some differences that are put below in points:-

• NBFC cannot accept demand deposits,
• Unlike in the case of banks, Deposit Insurance and Credit Guarantee Corporation is not available to depositors of NBFCs.
• NBFCs doesn’t form a part of the payment and settlement system and cannot issue cheques drawn on itself,

WHAT ARE THE REQUIREMENTS FOR REGISTRATION WITH RBI?

Non-banking financial company that has been incorporated under the company’s act of and wishes to commence a business of the non-banking financial company as a financial institution then they must get NBFC Registration.

The NBFC Registration has to be done under section 45 I (a) of the reserve bank of India act of 1934 and it must comply with the following: –

• A company must get registered under Companies Act, 2013.
• And it should have a minimum net owned fund of Rs 200 lakhs.

WHAT IS THE PROCEDURE FOR APPLICATION TO THE RESERVE BANK OF INDIA FOR NBFC REGISTRATION?

• The company that is applying for NBFC Registration is required to apply file for an application online and then submit a physical copy of that application (print out) to the regional office of the reserve bank of India. The filing for the NBFC Registration application has to be done through the official website of RBI, which is cosmos.rbi.org.in
• At this stage, there won’t be any need for logging in to the cosmos application and this is why there will be no requirement for user id. Your company can simply click on the company registration on the main log-in page and you will be redirected to a window that will show an excel application form that is available for being downloaded. The company may download this form and fill in the information requested.
• The company should put in the correct name of the respective regional office in the field C 8 of the Annex i.e. identification of particulars into the online excel NBFC Registration application form.
• Now after following through the above steps, the applicant company shall then receive a reference number for the COR application that’s been filled online. After which the applicant can submit the copy of this online form (this time indicating the online Company application reference number. This along with the requested list of required documents) has to be then submitted to the regional office too.
• Now the company can further easily check for their NBFC Registration application status by filling in the given acknowledgement number until they finally receive their NBFC Registration certificate.

For more details, you may anytime contact Swarit Advisors as we are 247 hr available to serve our customers in any online legal processes of registrations.

Source link: https://swaritadvisorsindia.wordpress.com/2018/09/10/importance-and-process-of-nbfc-registration-in-india/

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Follow The Online MSME Registration Procedure In India

In our blog, we will discuss the basic details of MSME Registration in India. Here we will provide the very basic information regarding MSME Registration, why to get an MSME Registration? and some basics on the online procedure of MSME Registration, where most of the people need experts help and guidance.

What is an MSME & What is the need of MSME Registration?

MSME is micro small medium enterprises. It’s the similar, rather falls under same category as SSI which is small scale industry. Both of these MSME and SSI Registration benefits are given under the Udyog Aadhaar. Both being the foundations of the economy in India almost like a backbone. The Indian government supports and promotes these businesses through many different schemes and rights over benefits. It’s their way to encourage more such Businesses.  These benefits, for example, are like power rates of interests over loans and other rules favouring the business owners with regard to the settlement of disputesin a limited time period etc. But these benefits are limited to those who have done MSME Registration only. And this is why despite the fact that if you have a business, MSME Registration is not compulsory but one must get an MSME Registration just to avail for the government benefits.

What Are The Laws Related to The MSME Registration?

MSME Registration application is prepared and applied under the MSMED act. These MSMEs could be in both, service sector and manufacturing sector. The MSME Registration has a classification of categories depending on the type of operations the business does and the amount of annual turnover they make.

Following is how the three categories can be divided: –

Types of MSME Registration based on their size, Investment, and turnovers.

• Micro Enterprises- The micro enterprise Businesses under the MSME Registration is the smallest in size and the criteria for falling under this category is as followed:-
• The Investment made in the sector of manufacture must not be more than the amount of Rs. 25 lakhs
• And in case your business is of the service sector type, then the investments made should be less than Rs 10 lakhs.
• Small Enterprises-  This is the 2^nd and the middle of the three sizes of categories, the small-sized enterprise. To get an MSME Registration under small enterprise category is as follows:-
• In the sector of manufacture, the Investment made must not exceed the amount of Rs 5 crores. But it must be more than the amount invested in micro-sized industries which is Rs. 25 lakhs.
• Now similarly, looking at the service sector here, the amount of investment must be more than the amount of Rs. 10 lakhs but must not exceed the amount of Rs.2 crores.
• Medium Enterprises- This category has the biggest sized enterprise among the MSMEs. And the criteria for this is as followed:-
• The category that deals with the manufacturing sector has to be an investment which is more than the previous category which is small-sized enterprise. So the criteria is that the investment amount must be above Rs. 5 crores and upto should be Rs 10 crores.
• And similarly like previously mentioned two categories, the service sector must have an investment of Rs. 2 crores that doesn’t exceed the amount of Rs 5 crores.

What should you be prepared with for MSME registration application?

In order to get the MSME Registration done in India, you must have the following documents prepared with you to follow a hassle-free procedure online.

• Government Registration fees
• The MSME Registration application form.
• Prescribed list of documents for submission at the registrar office.

Have a Look at the Procedural Steps for MSME/SSI Registration

• Prepare and complete the form of MSME Registration or SSI Registration.
• Next, get all the prescribed list of documents.
• Once you have the documents for MSME Registration application file for the MSME Registration to the registrar.
• Now that you have submitted your MSME Registration application, it will be verified by the authorities and when they are satisfied with your submission you will be granted your approval.
• You shall receive your MSME Registration certificate and you are now a registered MSME business owner with rightful access to the government benefits.

We at Swarit Advisors are the best leading online legal service providers who are constantly available to support you in the best possible ways. All you can do is contact our specialists by discussing your problems and doubts so that we can guide you in the right direction with an accurate procedure to follow. Dial our phone number anytime in 24/7 hr or drop us an email when you need us.

Source link: https://swaritadvisorsindia.wordpress.com/2018/09/07/follow-the-online-msme-registration-procedure-in-india/

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Know The Importance Of The Trademark Registration

We all agree that we need something to represent our business or its activity and services, something distinctive from the already existing business or having the similar activities. In today’s market our brand needs to stand out, it needs to be unique, however we don’t want it to be copied or misused or replicated by anyone. We need a security for our logo or our symbol that we are supposed to display publicly.

So what do you think is the way to keep our brand shining in the eyes of the masses that it influences without anyone causing any infringements? We can obtain it by registering for trademark, and yes getting a trademark registration will provide you with the protection against infringements as well as it will give you the legal rights to sue those who dare to steal your intellectual property. In fact once you have your trademark registration done you can display and use it out in the open world with the security in your mind that it’s legally protected from any theft or misuse and hence, it’s important to get a trademark registration.

A trademark is such an asset to have which is intangible, it provides protection to the investments that you have made in your respective company. A trademark may be a name of a brand, any logo, and a symbol with some design or a tag line. In India the trademarks are functionally governed by the officer that also handles the patents, designs and trademark, these all are intellectual properties with slightly variable difference its description is given under the trademarks act of 1999. There has been some recent advancements and changes in its rules and regulations and also its classes, all here in the name of improving the Indian intellectual property regime. There once used to be 74 trademark application forms all in action that has now been conveniently reduced to just 4. The fees though have definitely hiked and is between four thousand rupees and ten thousand rupees however in order to courage people to file their trademark registration application online the fees has been kept as nine thousand rupees only. Also, for those who are just starting up their business and have rather small business, the fees is as low as four thousand five hundred rupees.

In order to make the trademark registration process rather time efficient and a bit smoother, giving registered official email address has been made mandatory in order to allow frequent and better communication easily along with the inclusion of video conferencing if necessary. The number of adjournments also has been now reduced to just two, all of these new goodies were introduced under the trademark registration rules and regulations in the year 2017 and these rules basically has replaced the rules from year 2002 update. Let’s look at a summary of some of the advantages of the trademark registration. A trademark shall remain registered and legally protected by the law under the trademark act for ten years, after which it must be re-registered or its registration must get renewed.

What AreThe advantages of the Trademark Registration? 

• There will always be a legal protection first of all with the exclusive right to the owner to be able to sue anyone in the court of law against infringement by anyone.
• It becomes an exclusive entity giving the owner the ability and right to commercially use it, franchise it or transfer its rights to someone else.
• It is an intangible asset and as mentioned above about commercial use and franchising it, as it can generate income by those means.
• You may get global trademark registration on the basis of your current trademark registration in India.

So now don’t forget to get a trademark registration as it is very important for protection of your logo and has so many other advantages accompanying it. You may anytime get in touch with the Swarit Advisors experts to get more insight details about the online legal processes. We are 24/7 hr available to offer reliable services to our customers whenever you need. We are the renowned leading consulting service provider firm where our professionals give step-by-step solutions at your end in shortest possible time period.

Original Source: https://swaritadvisorsindia.wordpress.com/2018/09/05/know-the-importance-of-the-trademark-registration/

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Are You Looking For Online One Person Company Registration Process In India?

In this article, we will discuss something that’s a bit convenient for those who want to earn through a business. So, if you are planning to start a business solely then something we can suggest you would be a one person company. I suggest starting a one person company because of the convenience it provides and the level of complete control you can have over your business activities and operations.
One person company is a fairly new concept that has recently been introduced through the company’s act of 2013. The idea behind the concept was to support the new entrepreneurs with their start-ups with no mandatory requirement of more than one person to start their company. They may easily incorporate a single person economic entity. Before the existence of this one person company concept, there used to be the requirement of at least two directors and two members for incorporating a private limited company while there was a requirement of three directors and seven members for incorporating a public limited company. Now, this step of collecting more partners for you is no longer necessary. Isn’t that a wonderful advantage?

But I must mention that one person company has its limitations too. Some of the limitations of a one person company are that you must also have a nominee to take over your duties in case, you are no longer in a condition to operate the activities of your business.  In any case, if you become disabled, then your one person company will be required to be converted into a private limited company.
There is also a condition that once your annual turnover exceeds the amount of two crore rupees, then it will need to get audited for its financial statements with the ministry of corporate affairs or as it’s known for short as MCA. Now, this was all about what a one person company is and its limitations and basic benefits. Let’s look at now why you must be getting a one person company registration. 

Why should you get one person company registration?

Following are the reasons why you must opt for one person company registration:-

• You will become the single promoter of your one person company – this is the only type of company that you can have, with just you as the member and director both and only person solely responsible and running all the operations by yourself with complete control over all the activities. You will also have limited liability protection to it in India because your one person company is an entity itself having its own properties, investments and liabilities. Also, you can transfer your rights easily.
• One person company has its own uninterrupted existence which means a perpetual succession. This remains so until it is ever legally dissolved. The company being its own entity will continue to exist as itself irrespective the changes in members, deaths or departure of its directors.
• The one person company has borrowing capacity that is it can easily borrow land, loans and make investments in its name. Though the company can’t issue any kind of equity security all because it can be owned by only one person.
• The ownership can easily be transferred to another person whenever the need arises. The procedure is usually done by transferring and altering the shareholder directorship and nominee’s information.
• The company being its own legal entity has rights like owning its own property.

The required documents for one person company registration. 

• Identity proof:- the documents to prove your identity and business address. These documents will include your Aadhar card, voter ID or a copy of your passport. Apart from this your PAN, residential address proof like utility bills and bank account passbook etc.
• Registered office proof:- just like all the companies you too must have a registered office. And there must be a proof for it. The documents required for that would be a copy of the ownership of the property if you own it along with the recent utility bills like electricity and water bills. Or if you have your office on a rented property, you’d be required to submit a copy of the rental agreement along with the NOC from the landlord of the property.

Now let’s get to the one person company registration process for your one person company. 

Avail the One Person Company Registration Process with the Help Of Experts 

• Start with getting a DSC or a digital signature from a government recognised authority. Along with that also get a DIN which is short for the director identification number, also keep your documents ready with an application for the one person company registration.
• Now get a name approval. Your one person company name will be approved with subject to the availability and the guidelines that are laid down by the MCA.
• Now the final step is of getting your one person company registration done. You need to submit the application with attached documents and details of the name approval and you will be granted your one person company registration certificate.

Our Experts at Swarit Advisors are constantly available to help you in any circumstances all you have to do is to dial our helpline number and we respond immediately with perfect solutions.

Source link: http://swaritadvisors.over-blog.com/2018/09/are-you-looking-for-online-one-person-company-registration-process-in-india.html

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Avail The Key Factors Of Import And Export Code

Are you looking forward to avail the import-export code for your business? If yes, then we can help you to understand the key highlights of the import-export code. In this article, we will try to cover everything you ever need to know regarding the import and export business and how to apply online for its registration. Let’s, first of all, discuss what import and export code is?

What is import and export code or IEC?

Now, all the businesses that will ever engage with importing and exporting of any kind through the countries will mandatorily require to have an import and export code or IEC code which is just a short abbreviation.  This import and export code or IEC code is a unique 10 digit number that you will be using while importing or exporting of any goods or services through overseas.
When you go through the IEC Registration process, the IEC is granted by the director general of foreign trade. It will be under the ministry of the commerce and industry. The importers will not be allowed to proceed without this IEC Code. This 10 digit number will give you a validity that is permanent when issued once. This is one of the registrations that would not require any re-registration after a certain time period. 

Some of the key features of IEC registration 

• It is valid for a lifetime

Once you issue an IEC code after getting an IEC registration, it will remain valid for lifetime. It has no expiry date or a certain term period after which you had required a re-registration. An IEC code is valid throughout the nation and for all the factories and each branch of the company or respective organization.

• It is required by the Importers

All the importers that wish to import goods in India will need to have a valid import export code. This import export code must be mentioned in all of the relevant or the necessary documents when running your import business. The bankers that you will deal with for any monitory transactions abroad will need you to have a valid IEC registration in order to make any respective transactions.

• It is required by the exporters

All the exporters that wish to export any goods outside of India will need to have a valid import-export code. The mention of this import-export code is mandatory in all of the necessary and relevant customs law documents. The bankers will also require a valid import-export code through an IEC registration when there will requirement of any monitory transactions through them from your respective customers.

• There is no need for any return filing

There is never a need for the renewal or re-registration of the import export code, there is also no need for any periodic filing of any returns with respect to this import-export code.

• The import-export code for a individual

This import export code need not be only for any registered business. It can simply be for any individual also. So there’s no such restriction for sole proprietors.

• It is processed quickly

You don’t exactly require to submit any proofs for the purpose of import or for export. The IEC registration is completely an online process and would not need any IEC physical intervention.

Basic documents required for IEC registration- 

• Your passport sized photographs.
• A self-attested copy of pan card number of all of your directors, your partners, and proprietors.
• Residential proof of all the directors, your legal partners, and proprietors.
• A copy of PAN card number of your business or any respective entity, if you have any.
• A cancelled cheque for bank reframes and valid details.
  

Step for the Procedure of IEC Registration 

• Fill in the application form,
• Collect you prescribed list of required documents,
• Verify your documents to be correct,
• Submit the IEC registration application along with the required documents,
• And done! Your IEC registration is complete, you will be allotted your IEC or import export code.

These are the basic steps that you may follow while you are applying for the online IEC Registration. In case you are having doubts then you may call anytime on our helpline number. Swarit Advisors is a leading consulting firm where experts are 24/7 hr are available at your end. Get in touch with us whenever you need.

Source by: https://swaritadvisorsindia.wordpress.com/2018/08/30/avail-the-key-factors-of-import-and-export-code/

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Why Do We Must Opt Trademark Registration In India?

The trademark registration in India gives protection against the intellectual properties that are in the form of symbols, words or logo representing their respective brands and companies and their activities. A trademark is basically an expression that is unique to the company as it distinguishes itself from similar counterparts.

The trademark owners have an exclusive right once they get the trademark registration done. There are several classes or categories for trademark registration, a total of 45 to be precise. Here in our blog, we will discuss about the online procedure of trademark registration in India.

Trademark Registration Procedure Online 

• The filling of the trademark registration application form –

The first step for trademark registration is filling an application. The form will ask about certain details regarding what the trademark is to be registered for, and in what form you want your trademark to get registered.

• Preparation of the requested documents required for the trademark registration application.

For that you will need the following:-

1. The name of the applicant.
2. The type of business you run or are planning to run.
3. The main objective behind your business activities and the way of operation.
4. The name of your respective brand, or the chosen slogan you wish to trademark or a brand logo.
5. The address of the registered office of your business.

• Trademark Search

The next step comes of searching for your trademark. An availability check must be run in order to confirm that the symbol or logo or any words that you want a trademark registration is available, and has not already been registered by anyone else. In case, your idea is already taken, try modifying it so that there will not be any objection in the future while registering.

• The selection of the class

As discussed earlier, there are 45 classes to choose from for trademark registration. The classes are based on the type of the business you run or the activities of your business is about.

• The trademark application filing

You have your trademark search complete and also you have your trademark registration application ready at this point, so now you can easily file it. Once you have filed your trademark registration application, you will be provided with a trademark number by the department of the trademark. This trademark number will be important as it will help you to track your registration process. This filing of the application takes about 2 days.

• Now you reach the stage of Vienna classification or codification

At this point, the patent registrar involved with the registration of your trademark will affix something called a Vienna codification. This is an international one and in your tracking process will give a status saying “trademark registration application sent for Vienna classification”

• Now comes the time for examination of your trademark

The trademark officer will run an examination for your trademark registration application through the certain procedural guidelines. Now after the verification and review, the officer may or may not accept your application. If your application is accepted and approved, your job is done.

• In case your trademark registration application is rejected then you may apply for a hearing in which you may reason with the officials. In case they are satisfied you will get your approval while in case the things don’t go in the progressive direction then you can take another step of reaching out to the appellate board of intellectual properties for another hearing.

Here our trademark registration procedure is complete.
Once you get your trademark registration certificate you can then put the TM symbol next to your brand or logo or whatever you have gotten your trademark registration for. For more insight details you may anytime contact Swarit advisors which is a renowned consulting firm where our professionals are 24/7 hr available to help you in every possible way. All you have to do is to dial our number or email us so that we can revert you back immediately.

Source by: https://swaritadvisorsindia.wordpress.com/2018/08/29/why-do-we-must-opt-trademark-registration-in-india/

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What Are the Steps to Apply For Online FSSAI Registration in India?

Do you know what FSSAI license registration in India is all about? Well, in case, you are someone who deals with food of any kind then you really need to know everything about FSSAI license and registration.

The FSSAI is an association made by the government and it’s a short abbreviation for the food safety and standards authority in India. As a food business operator, it is mandatory to get FSSAI registration. If you run a food business of any kind and haven’t got an FSSAI registration then you will be liable for penalty or fine. It is illegal to deal with any business related to food without FSSAI registration. Now when you are aware of what food license is and what FSSAI registration is, we will move ahead to learn the basic steps that you can easily follow to apply for the FSSAI Registration.
The steps of FSSAI registration

• You can do the registration yourself online, it’s not that difficult but you can also reach out to consultancy firms such as Swarit Advisors, where experts will either guide you through the step-by-step registration process or just ask you about some basic details and will start the registration process for you. So contact experts and discuss what you need to do next.
• The second step is the document preparation. There is a prescribed list of documents that are required to be submitted along with the application for FSSAI registration.

The basic list is as below –

1. In case you are a proprietor, you need the identity proof and the address proof of the location from where you run your food business.
2. A list of the food items that you either use or intend to use in your food business. You must pick an appropriate food category also.
3. A complete layout or a blueprint of all the manufacturing machines and plant and the way you will produce food products as well as the distribution facility of your food product.
4. The name of your business.
5. A report of the analysis of your food products.
6. The source of the raw material you use for the food production.
7. And NOC from the municipal corporation.

• Pay one year term of FSSAI registration government fees.
• Now that you have done enough preparation and collected the required documents and details, you may now file for the FSSAI registration application. Start by drafting it first.
• There will be next follow-ups with the department of the FSSAI, they will review your application and inspect your way of operations.
• Once all the review and follow-up is done, your application will get approved and you will be granted with an FSSAI registration The FSSAI certificate will come with an FSSAI registration number. This number will be of 14 digits absolutely unique to you only and is a means of getting any knowledge and information about your business functions. This certificate and the number must be on a display in your registered office by law. Along with that this FSSAI registration number must be printed on all the packaging of the food products that you sell.
  

Let’s look at the list of individuals that are eligible to get an FSSAI registration.

• The hotel owners, restaurant owners.
• Those who have food chain business.
• Those who are into manufacturing of the food products and packaging.
• Those individuals who sell and resell food products. (Retailers)
• Those individuals who are involved in the import and export of the food products.
• The individuals supplying raw material for the production of the food products to be sold in a to the food businesses.
• Any operators of the canteens and messes in the big organizations and those who are into catering for the lunches to the government offices and organization.

Now we hope that you are very well aware of the very basics of FSSAI registration. So in case, you are running a food business or planning to run any food-related business of any kind, don’t forget to get your FSSAI registration either by yourself online or with the help of any agency that does these kinds of registrations. You can contact Swarit Advisors through our helpline number or mail us so that we can reach you as soon as possible.

Source by: https://swaritadvisorsindia.wordpress.com/2018/08/28/what-are-the-steps-to-apply-for-online-fssai-registration-in-india/

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