Nidhi Company Incorporation

29,999.00

All Inclusive Fees

(EMI: Rs.2728.59 for 12 months)*

Category:

Description

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Important Points

  • Completely online service – No physical visit required.
  • No minimum capital requirement.
  • Minimum 7 Members Required for Registration
  • Nidhi Company in just 10 working days.
  • There are no hidden Charges
  • Work Handled by Professionals

*Stamp duty Extra for States: Punjab, Kerala and Madhya Pradesh

About Nidhi Company

Nidhi Company is one of the categories of Non-Banking Financial Company (NBFC) that does not require any Reserve Bank of India (RBI) license. Nidhi Companies are limited companies formed for cultivating the habit of thrift and savings amongst its members. It borrows from members and lend to members only. The main reason as to why the Nidhi Company is so famous between the business communities is the Nidhi Company is very easy and cheap to form to register. Pre Incorporation steps:

Nidhi Companies are formed in nature of public limited company where minimum seven members. A minimum of three Directors are required for establishing a Limited Company. Minimum net owned funds of atleast INR 10 lakh as capital is required.

Registration Process

  • DIN & DSC

    1 to 2 Days

  • Submission of forms to MCA

    4 to 5 Days

  • Drafting MOA & AOA

    2 to 4 Days

  • Certificate Of Incorporation

    10 to 15 Days

  • DIN & DSC

    1 to 2 Days

  • Drafting MOA & AOA

    2 to 4 Days

  • Submission of forms to MCA

    4 to 5 Days

  • Certificate Of Incorporation

    10 to 15 Days

Advantages of Nidhi Company

  • Simple Registration Process

    Nidhi Company initially can be registered by atleast seven persons, by complying with the prescribed limited formalities of the Companies Act, 2013 and  Nidhi companies Rules, 2014. Within one year of incorporation minimum no. of members atleast two hundred

  • Limited Liability

    Limited liability is the greatest benefit of Public Limited Company. If any legal liability arise then neither it’s member nor it’s director’s personally affected; Liability of the members are only for the unpaid amount on shares held by them and not more than that. Shareholders are not liable for Company’s debts and liabilities.

  • Separate Legal Entity

    One of the best advantage of a Limited Company is that it is distinct from that of its members. A company is a separate entity having its own rights & Obligations.

  • Perpetual Succession

    A company with ‘perpetual succession’, has continued or uninterrupted existence until it is legally shut down. Company, being a separate legal entity, is not affected by the death of any member or transferable of shares but continues to be in existence.

  • Rate of interest

    The maximum interest rate a Nidhi Company can offer on deposits must equal to the rate of interest offered by NBFC which is currently 11.00%. Further, in case of saving account, the maximum Interest rate can be 2% more than a nationalized bank is offering.

  • Acceptance of Desposits

    Accept Deposits from or lend to any person, other than its members not more than twenty times of its Net Owned Funds (NOF) as per itslast audited financial statements.

  • Owning Property

    A company being a separate legal person, can purchase, own, enjoy and alienate or sale, property in its own name. No member or shareholder can make any claim upon the property of the company so long as the company is a going concern.

  • Declartion of dividend

    A Nidhi shall not declare dividend exceeding twenty five per cent. or such higher amount as may be specifically approved by the Regional Director

Frequently Asked Questions (FAQs)

01. How Registrationseva can help you with Nidhi Company Registration?

Registrationseva can incorporate a Nidhi Company in 15 to 20 days, subject to ROC (Ministry of Corporate Affairs) processing time.

02. What is Nidhi Company?

Nidhi Companies are limited companies formed for cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and Which complies with rules of Chapter XXVI of Companies Rules, 2014.

Nidhi Companies are formed in nature of public limited company where minimum seven members. A minimum of three Directors are required for establishing a Limited Company. Minimum net owned funds of at-least INR 10 lakh as capital is required.

03. How many Shareholders are required to Register a Nidhi Company?

Minimum of seven shareholders required to register a Nidhi Limited Company and  within one year of incorporation it shall be minimum  two hundred.

04. How many Directors are required in Nidhi Company?

Minimum of three directors are required to register a Nidhi limited Company.

05. How much money do I need to start a Nidhi Company?

In case of Nidhi Company, minimum Rs. 10,00,000/- (Ten lakhs) of owned capital is required.

06. How much deposit does Nidhi Company can take from the members?

The quantum of deposits depends upon the net owned fund of the Nidhi Company. As per law, it has to maintain the ratio of 1:20. Which means if we have net owned fund (NOF) of Rs. 100/-, we can take deposit of Rs 2,000/-

07. No. of branches, a Nidhi Company Open?

A Nidhi Company is not allowed to open any branches before 3 years that too on a condition that profit has been earned by the Nidhi Company in all the three years consecutively. Also, as per law, branches cannot be opened before three years even with any permission. A Nidhi Company is not allowed to open any branches before 3 years that too on a condition that profit has been earned by the Nidhi Company in all the three years consecutively. Also, as per law, branches cannot be opened before three years even with any permission.

08. Maximum rate of interest a Nidhi Company can offer on deposits?

The maximum interest rate a Nidhi Company can offer on deposits must equal to the rate of interest offered by NBFC which is currently 11.00%. Further, in case of saving account, the maximum Interest rate can be 2% more than a nationalized bank is offering.

09. Documents Required to Process?

Documents Requirement For Directors And Shareholders (In Scan only):

1. PAN Card
2. Identity Proof – Anyone (Election ID/Passport/Driving License/Aadhar Card)
3. Photographs
4. Address Proof – Anyone and Latest by One Month (Bank Statement/Mobile Bill/Telephone Bill/Electricity Bill)NOTE: AADHAR CARD/DL/PASSPORT/VOTER-ID WILL NOT BE ACCEPTED AS ADDRESS PROOF.

For Registered Office (In Scan only) :

In case the premises are Rented
Rent agreement In case the premises are Owned by any Director or any Relative
Registry Proof or House tax receipts + Latest Electricity bill + NOC from the Owner on the name of any Director

10. Information Required?

Information Required (Only information NO Documents Required):

1. Education Qualification of all the persons Involved
2. Any Landline number
3. Place of birth of all the persons
4. Mobile Numbers of Directors
5. Email IDs of DirectorsCompany related Information:1. State in which company will be registered
2. Complete Registered office address along with PIN Code
3. Proposed business of the company in brief
4. Proposed Name of the company
Name should be like thisFirst Name – To be unique eg. XYZ
Second Part – Activity Word eg. If Technology Company then Technologies, tecnosoft are the activity Words Complete Should be Like this:

XYZ Nidhi Limited
XYZ Nidhi Limited

Brief Significance of Prefix used in Company Name.