Nidhi Company Registration
Best for lending, borrowing and savings amongst the members
We Bet the Best Cost !!
Within 40-45 days
No Hidden Fees, Quick Turn Around Time
What is it? | Why Needed? | Documents Required | Service Package | FAQs
Nidhi Company Registration
Nidhi company is a company belonging to the NBFC sector and is recognized under section 406, The Companies Act 2013.
A nidhi company runs on a model of borrowing and lending money between their members (shareholders) with the objective of developing the habit of prudently saving funds amongst its members . A nidhi company, is one that belongs to the non-banking Indian finance sector and is recognized under section 406 of the Companies Act, 2013. Nidhi companies are often known as Permanent Fund, Benefit Funds, Mutual Benefit Funds and Mutual Benefit Company. These companies are more popular in South India, and 80% of Nidhi companies are located in Tamil Nadu.
Legal Brother’s has a team of experts in Nidhi Company Registration (NGO) for pan India locations. You may contact us to get your Nidhi Company Registration (NGO) in Delhi, Mumbai, Bangalore, Kolkata, Kanpur, Bareilly, Lucknow, Kanpur, Ghaziabad, Ludhiana, Faridabad, Meerut, Varanasi, Srinagar, Amritsar, Allahabad, Chandigarh, Bareilly, Moradabad, Gurgaon, Aligarh, Jalandhar or any other cities in India.
Why Needed: Reasons & Benefits
The Features and benefits of Nidhi Company Registration are:
Nidhi company needs Limited documentation, Easy Registration process, 7 members, 3 directors, 10-15 Days Registration period.
No RBI Regulations
Nidhi Company coming under the category of NBFC but does not require RBI approval.
Fund ratio: Invest one get twenty
The capital invested by owner in its business for raising fund is called the net owned fund .
Reduced risk of loan repayment
Nidhi Company can accept deposit and provide loans to its members only according to the Nidhi Rules, 2014, thus the risk of non- repayment
More Certainty in Nidhi company
As the main objective of Nidhi company is to promote the habit of saving amongst its member which brings the certainty of survival and growth.
Minimum capital requirement for registration of Nidhi Company is Rs 5, 00, 000 lakh. Not only this, it offers the opportunity to invest the capital
- Address cum Identity proof (shareholders/ directors)
Identity and address proof will be required for all directors and shareholders shall share their proofs. In case of Indian
nationals, PAN is mandatory. For foreign nationals, apostilled or notarized copy of passport must be submitted mandatorily. Residence proof documents
like bank statement or electricity bill must be less than 2 months old.
- Registered address proof
A recent copy of the electricity bill/property tax receipt/water bill must be submitted. Along with the utility bill, rental agreement/sale deed and a letter from the landlord with his/her consent to use the office as a registered office of a company must be submitted.
- Signed incorporation document
Signed digital signature application hard copy along with other incorporation document signed and uploaded in soft format.
Frequently Asked Question
What are the requisites to register a Nidhi Company?
A Nidhi company is treated as a Public Limited Company so it must have minimum three Directors and Seven Shareholders in it. Nidhi company must have a memorandum of association stating the primary object of the company being saving of money among the members and promote sense of savings.
Is my money deposited with a nidhi company secure?
How does a Nidhi Company function?
What is the minimum age to be a member of a Nidhi company?
What are the restrictions I might face with the Nidhi Company?
Nidhi Companies are strictly prohibited from engaging in businesses like: Leasing finance, Chit fund business, hire-purchase finance, insurance and acquisition of securities.
Nidhi Companies are prohibited to issue any shares, debentures or any other securities by any name or form.
Nidhi Companies are restricted to issue an advertisement in any form for soliciting deposit.
Nidhi Company members can not open current account with its member can still open savings account with the members.