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NIDHI COMPANY REGISTRATION
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WHAT IS NIDHI COMPANY ?
ONLINE NIDHI COMPANY REGISTRATION IN INDIA
GET YOUR QUERY RESOLVED BY THE BEST NIDHI COMPANY REGISTRATION CONSULTANT IN INDIA
Nidhi Company registration is the procedure by which the establishment of a particular type of non-banking financial company (NBFC) known as Nidhi becomes feasible. This incorporation occurs in accordance with the regulations outlined in the Companies Act, 2013.
The unique aspect of Nidhi Company registration in India is that it operates on the principle of restricting the deposit and lending of funds strictly among its members. Unlike other financial legal structures, a Nidhi Company does not require prior approval or a license from the Reserve Bank of India (RBI) to conduct its business. If you intend to start a lending business in India, Nidhi Company registration online is the ideal choice. Through Nidhi Company registration, you can establish your own small bank and offer loans, accept deposits, and open savings accounts. This type of incorporation falls under the provisions of the Companies Act, 2013.Do you want to start your financing business?
Companies that facilitate easy fund availability for businesses are in demand. Vakiltrust, as Nidhi Company registration consultants, assists you in establishing your own Nidhi bank and provides guidance on understanding the concept of a Nidhi Company.
Vakiltrust, a renowned business consultant, offers a prompt Nidhi Company Registration Online Service in India with a straightforward five-step process:
The final step remaining is to open your Nidhi Company Current Bank Account using the Certificate of Incorporation (COI) provided by the Ministry of Corporate Affairs (MCA). Once completed, you can commence your lending business operations.
It is important to note the following:
1. Initially, we will apply for your Digital Signature Certificate (DSC) and Director Identification Number (DIN).
2. Selection of a unique name for your company.
3. Preparation of necessary Nidhi Company registration documents.
4. Filing e-forms with the MCA.
5. After the COI is allotted, your Nidhi Bank Registration is considered complete.
6. Utilizing the COI issued by the MCA department, you can proceed to open your Nidhi Company Current Account.
Nidhi Company Registration falls under the category of Non-Banking Financial Corporations (NBFCs) regulated by the Companies Act, 2013. The distinguishing feature of this company is its acceptance of deposits and provision of loans exclusively to its members, i.e., shareholders, working solely for their mutual benefit. The RBI has exempted this company from the main regulations of the RBI Act of 1934 because it deals exclusively with the funds of its owners or members.
FEATURES OF NIDHI COMPANY
FEATURES YOU CAN’T RESIST
SEPARATE LEGAL ENTITY
In a Nidhi Company Registration, the Company, Directors and its Shareholders are considered as Separate Legal entities, thus shields from personal liability and protects from other risks and losses.
EASY TO CHANGE OWNERS
It is easy to change the members and directors at any given point of time. The cost associated with the addition or removal of Directors or Shareholders from a Nidhi Company is quite nominal and the process can be completed within the same day as well.
NO RBI REGULATIONS
The Benefit of Nidhi Company Incorporation is that, it does not require to take prior approval from RBI to start its loan business. Thus, the Comapny can start its business as soon as it incorporates.
INTEREST INCOME
Nidhi Company enjoys the benefit of having a steady income in the form of Interst inome. Also, Nidhi Comapny can earn Interest upto 20% P.a.
EASE OF EXPANSION
Nidhi Comapny can open maximum upto 3 branches within the district after sucessfully completing its 3 years after incorporation.
SAFE LENDING
Nidhi Company is allowed to lend money against securities like gold, immovable property, FDs, etc. thus providing the adequate resources for recovery.
MINIMUM INVESTMENT
Nidhi Company can be incorporated with a minimum paid up capital of Rs. 5 Lakhs.
LOW RISK OF NPAS
As we all know that Nidhi Company is allowed to deal with its members only, it provides reasonable assurity about the safety of the money lend by it.
EASY FUND AVAILIBILITY
A Nidhi Company Registration is required to make minimum of 200 members which ultimately provides it with easy fund availability from its members.
Documents required for Micro Registration
- Copy of PAN of Directors and Shareholders
- Copy of ID Proof of Directors and Shareholders
- Voter ID/AADHAR/Driving License/Passport
- Copy of Address Proof of Directors and Shareholders
- Bank Statement/ Electricity bill/ Mobile bill/ Telephone Bill
- DSC & DIN of all directors
- MOA & AOA
- Passport size photographs
- Property Ownership Documents of Registered office premises
- If property is owned: Electricity bill + Ownership Documents + NOC (if required)
- If property is rented: Electricity bill + Rent Agreement + NOC
Pre requirements for Nidhi Company Registration
Particulars
Numbers
Minimum Directors
3
Minimum Members
7
Minimum paid-up capital
Rs. 5 Lacs
FREQUENTLY ASKED QUESTIONS
The minimum capital requirement for incorporating a nidhi company is Rs 5 lakhs.
It takes around 10-15 days to register a nidhi company.
No, a Nidhi company is a form of NBFC which do not require RBI’s approval for its registration
No, Nidhi companies are not allowed to do microfinance business.
Anyone who is above the age of 18 years can become a member of Nidhi Company.
A Nidhi Company is allowed to take the maximum of 20 times the net owned fund. For example, if you have invested Rs.1 Crore, then you are entitled to raise funds up to Rs. 20 Crore.
A Nidhi Company can open up to 3 branches within the district only after three years of continuous profit running of the business and it will require the Regional director permission. Also, a Nidhi Company cannot open a branch outside the state.
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Reasons why customer’s choose us?
Best Online Company Registration in India
7 Working Days
We deliver the rapid Online Company Registration Services in India. Our team knows the importance and pleasure of our first company registration. Hence, delivers services with ultimate sincerity.
Personal Assistant
When you determine to start out with your company registration procedure with us, we designate you a personal committed assistant who assure a smoothen user experience and answers all your queries on time.
Lowest Price In India
“First step is always that toughest”; we have redefined this phrase and thus help you take your first step towards entrepreneurship with ease. You can rely on VakilTrust- Best CA Consultants in India as we are committed to serve you at the lowest possible cost.
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