What is a networth certificate?
A networth certificate is a consolidated document containing the net worth of an individual or an enterprise, usually certified by a Chartered Accountant (CA), after scrutinizing the book of accounts, records and documents, and total assets and liabilities. The net worth certificate format, as per the suggestion of Dr. L.C. Gupta committee report, the SEBI Regulations, 2013 has passed the method of computation of networth.
What are the benefits of a networth certificate? Networth Certificate shows the financial health of an individual or an enterprise.A graph of positive net worth for a year shows a sound financial background.The networth certificate is an indicator of your calculated financial wealth.Obtaining a bank loan will be easier with a positive net worth certificate.
What are the checklist conditions of the networth certificate for visa applications? Networth certificate for visa applications helps determine the financial health of applicants.On the basis of networth certificate issuance of visa is determined.Similarly, a franchisee application also requires a networth certificate for determining the economic capability of the applicant, to conduct business.
How to acquire a networth certificate? Pre-consultation with experts helps set us in the right direction to acquiring a networth certificate.Approach a Chartered Accountant (CA) or get help from a similar online service provider.After engaging with a CA, submit all documents, records, assets, and liabilities required.After determining the total net worth calculation, from the information provided, a chartered accountant will prepare a networth certificate and certify it.
What are the documents required for preparing a networth certificate? Fixed assets.Pledged securities.Intangible assets.Bank balance.Investments in shares/ mutual funds.Capital involved in Business.Vehicles, etc.
FAQs on Networth Certificate
YES. A chartered accountant is the authorized certifier of a networth certificate.
NO. It differs from person to person, depending on the requirements like visa application, franchisee application, etc.
We execute legal work for over 1000 companies and LLPs every month, by leveraging our tech capabilities, and the expertise of our team of legal professionals. Come on board and experience the ease and convenience!
By handling all the paperwork, we ensure a seamless interactive process with the government. We provide clarity on the incorporation process to set realistic expectations.
With a team of over 300 experienced business advisors and legal professionals, you are just a phone call away from the best in legal services.