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    Nidhi Company

    Nidhi Company is a Company classified as a Non-banking financial company and registered under Section 406 of the Companies Act, 2013, which has a sole objective of cultivating the habit of thrift and savings amongst its members. Therefore, the funds contributed for a Nidhi company are only from its members (shareholders) and used only by the shareholders of the Nidhi Company. This way members (or shareholders) are encouraged to save money and invest them within the company.

     

    Nidhi company is a class of NBFCs and RBI is empowered to issue directions to them in matters relating to their deposit acceptance activities. Therefore, Nidhi Company is an ideal entity to take deposit from and lend to a specific group of people.

     

    ComplianceIndia can be your legal and professional partner in India to help you understand how to register Nidhi Company in India quickly and cost-effectively.

    Advantages of Nidhi Company

    Simple Formation Process

    Simple Formation Process

    Cost Efficient Registration

    Cost Efficient Registration

    No RBI Regulations – Less Compliance

    No RBI Regulations – Less Compliance

    Less Risk of non-payments of loans

    Less Risk of non-payments of loans

    Low Capital Requirement

    Low Capital Requirement

    No outsider Intervention

    No outsider Intervention

    Exemptions and privileges under the Companies Act

    Exemptions and privileges under the Companies Act

    Eligibility to form a Nidhi Company

    – At least seven members are required to form a Nidhi Company.
    – Out of Seven members, three of them should be designated as Directors.
    – Minimum Equity Share Capital requirement of Rs. 5 lakhs
    – Atleast 10% of its outstanding deposits should comprise of un-encumbered term deposits

    How we Work?

    Step 1

    Fill-up our Contact Form and Submit

    Step 2

    Our Expert/ Legal Professional will contact you and provide brief guidance into the related context

    Step 3

    All Required Documents and Details to be provided as discussed with our Expert

    Step 4

    Our Expert will start Drafting of required documents for registration process

    Step 5

    Drafting of MOA & AOA

    Step 6

    Application for DSC of three Directors

    Step 7

    Once all required documents are prepared, Our Expert will file E-Form with ROC.

    Step 8

    On Successful filing of Form with ROC, Certification of Incorporation will be issued to you by ROC.

    Packages

    Consultation Charges

    Nil

    Complete assistance by Experts or Professionals indicating Process, Documents required, Benefits, Tax compliance, Legal Compliance, etc.

    Basic Plan

    Rs. 14,999/- only

    • – Registration of Nidhi Company
    • – Drafting of MOA and AOA
    • – Allotment of DIN of 3 Directors
    • – MCA Processing of E-form
    • – PAN and TAN Registration
    • – Current Account Opening in your nearest Branch
    • – Expert advice from Experts/ Legal Professionals

    Advance Plan

    Rs. 25,999/- only

    • – Registration of Nidhi Company
    • – Drafting of MOA and AOA
    • – Allotment of DIN of 3 Directors
    • – MCA Processing of E-form
    • – PAN and TAN Registration
    • – Current Account Opening in your nearest Branch
    • – Appointment of First Auditor
    • – MCA Annual Return Filing
    • – NDH-1, NDH-2 & NDH-3 filing
    • – DIR-3 KYC filing
    • – Expert advice from Experts/ Legal Professionals

    Ultimate Plan

    Rs. 35,999/- only

    • – Registration of Nidhi Company
    • – Drafting of MOA and AOA
    • – Allotment of DIN of 3 Directors
    • – MCA Processing of E-form
    • – PAN and TAN Registration
    • – Current Account Opening in your nearest Branch
    • – Appointment of First Auditor
    • – MCA Annual Return Filing
    • – NDH-1, NDH-2 & NDH-3 filing
    • – DIR-3 KYC filing
    • – Income Tax Filing
    • – Expert advice from Experts/ Legal Professionals

    Post Incorporation Requirements

    * Within One year of commencement, it should acquire a minimum of 200 members.

    * Within One year of commencement, Net Owned Funds (NOF) must be increased to Rs 10 lakhs

    * At least 10% of its outstanding deposits should comprise of un-encumbered term deposits.

    * The prescribed NOF to deposits ratio should be 1:20.

    Documents Required for Nidhi Company Registration

    Photograph

    Latest passport size photograph in jpg format of all directors

    PAN card

    Self-attested Copy of PAN card of all Directors.

    Identity Proof

    Self-attested Copy of Aadhaar Card/ Voter ID/ Passport/ Driving License of all Directors.

    Address Proof

    Self-attested Copy of Aadhaar Card/ Voter ID/ Passport/ Driving License or Bank Statement/ Utility Bills not older than 2 Months of all Directors.

    Office Address Proof

    Copy of Electricity bill or Sale Deed or rent agreement and latest self- attested electricity bill in case of rented accommodation not older than 2 months.

    NOC from owner

    No Objection Certificate to be obtained from the owner(s) of registered office.

    DSC

    For obtaining DSC of all Directors, alongwith above documents, DSC Application Form and Video Verification as per the latest guidelines of DSC issued by CCA is required.

    Unique Name

    Four-Five Unique names in Preference order indicating the business of the Proposed Company.

    Business

    Description of main business activity intended to perform

    Comparison

    Form of Business Nidhi Company Private Limited Company Section 8 Company
    Registration Requirement Mandatory Mandatory Mandatory
    Minimum Number of members 7 2 2
    Minimum Number of Directors 3 2 2
    Minimum Capital Requirement Rs. 5,00,000 Rs. 1,00,000 No minimum requirement
    Net Owned Funds to deposits ratio Required in the ratio of 1:20. Not required Not required
      GET STARTED KNOW MORE KNOW MORE

    Frequently Asked Questions

    1. How many people are required to register a Nidhi company?

    A minimum of 3 directors and 7 shareholders are required to register a Nidhi company in India.

    2. Which Act of the Indian Govt. administrates the Nidhi Company registration process?

    In India, section 406 of the Companies Act, 2013 recognizes the Nidhi Company Registration process and oversees the correlated instances with the recognition of the Ministry of Corporate Affairs (MCA) of the Indian Govt.

    3. What is the Minimum Capital requirement to incorporate a Nidhi Company?

    As per the provisions of the Ministry of Corporate Affairs (MCA), the minimum capital requirement to incorporate a Nidhi Company is Rs. 5 Lakhs. The MCA also specified that the capital has to be raised two times at least.

    4. On what condition a Nidhi Company can provide loans to its members?

    A registered Nidhi company can provide loans to its members once the particular individual provide an equivalent security expanse like Gold, Silver or any type of financial credential against the loan.

    5. Who can become a member/shareholder in a Nidhi Company?

    Any Indian citizen who is above 18 years of age, can become a member or shareholder in a Nidhi Company. In the process, the particular individual is mandated to produce the valid age-proof and address proof.

    6. What are the requirements to be a Director?

    The Director needs to be over 18 years of age and must be a natural person.

    7. Is an office required for starting a Nidhi Company?

    An address in India where the registered office of the Company will be situated is required. The premises can be a commercial/ industrial/ residential where communication from the MCA will be received.

    8. Do I have to be present in person to incorporate a Nidhi Company?

    No, you will not have to be present at our office or appear at any office for the registration of a Nidhi Company. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.

    9. What is a Digital Signature Certificate?

    A Digital Signature establishes the identity of the sender or signee electronically while filing documents through the Internet. The Ministry of Corporate Affairs (MCA) mandates that the Directors sign some of the application documents using their Digital Signature. Hence, a Digital Signature is required for all Directors of a proposed Nidhi Company.

    10. What are the documents required for registration?

    Identity proof and address proof is mandatory for all the proposed Directors of the Nidhi Company. PAN Card is mandatory for Indian Nationals. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.

    11. How long is the registration of the Company valid for?

    Once a Nidhi Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. A Nidhi Company must have a minimum of 200 shareholders and comply with other criteria within one year of incorporation. In case, annual compliances are not complied with, the Nidhi Company will be asked to refund the deposits.

    12. What is Director Identification Number (DIN)?

    Director Identification Number is a unique identification number assigned to all existing and proposed Directors of a Company. It is mandatory for all present or proposed Directors to have a Director Identification Number. Director Identification Number never expires and a person can have only one Director Identification Number.

    13. Which steps should be taken to register a business in India?

    To register a business in India, the promoters or owners are required to finalize their business activities and capital requirements first. Based on aspects such as the association of partnership, fund requirements, types of activities, etc. the appropriate business structure is chosen.

    14. What are the common post registration steps?

    The legal requirements do not end with registration. The businesses have to make sure that other registrations such as GST registration, shop & establishment registration or trademark registration, etc. are also obtained after the business set-up. The activity specific registrations such as Import-Export Code, FSSAI registration, etc. are also required.

    15. Can a Nidhi Company operate in another State?

    No, Nidhi Company cannot perform their operations outside the boundaries of the state in which the registration has taken place.

    16. How long will it take to incorporate a Nidhi Company?

    ComplianceIndia can incorporate a Nidhi Company for in 20-30 working days. The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.

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    WHY TO CHOOSE US

    Recognised by Govt. of India

    We are Govt. recognised registered Company providing Financial and Legal aspects to clients all over India.

    Professional & Experienced Team

    We are a strong team of 25 energetic people with 2 Chartered Accountants and 4 Company Secretaries.

    Quick Turnaround Time

    From our past records, we assure you 100% accuracy in services we provide within the timeframe mentioned.

    Cost Effective Service with Easy EMI

    With us, you can be confident that needs will be met and agreed-upon services will be provided at a fair price with an option of Easy EMI.

    5000+ Satisfied Customers

    We provide financial, taxation and regulatory services to more than 5,000 Individuals and Businesses.

    ISO 27001:2013 Certified for Data Security

    Certified Service provider for quality standards, data security and confidentiality.

    Transparent Process & No Hidden Charges

    We practice transparent pricing for all services and separate cost into three categories, our fee, government fee, and GST. No Hidden Cost.

    All services under one roof

    From incorporation to routine finance, tax and regulatory services till Closure/ wind-up for businesses and Individuals.