Since this thread is about starting your own PMS firm,here goes my 2 (or may be more ) cents.
First things first :
I need :
1.To show a networth of INR 2,00,00,000.
2. Application fee for obtaining the licence for INR 1,00,000 (non-refundable)
3. INR 10,00,000 as registration fees
4. INR 5,00,000 as renewal fees EVERY 3 years.
However there is a way by which all the above 4 pointers is going to get solved in a single shot:
To make matters simple, if I can get my hands on 2,00,00,000 INR and deposit that on the bank as Fixed deposit then all the purposes will be solved at a single stroke :
1. I can show a networth of 2,00,00,000 INR
2. From the interests that will be credited, the remaining 3 issues can be solved (obtaining licence, registration fees as well as renewal fees every 3 years)
Additional pointers for those like me who are searching for funds:
As obvious, lesser the money in the form of debt, better it is.