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

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.

As per the provisions of the Ministry of Corporate Affairs (MCA), the minimum capital requirement to incorporate a Nidhi Company is Rs. 10 Lakhs. The MCA also specified that the capital has to be raised two times at least.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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

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.