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Enjoy the perks of registering a Nidhi Company in India like Limited Liability, easy access to loans and other benefits. We have all-inclusive packages to Incorporate the company and there are No Hidden Charges.
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(All you need to know)
Nidhi Company is a business entity in India governed under the Companies Act 2013. Its sole objective is to engage with thrift and savings among its members. A Nidhi Company is a Non-Banking Financial Institute that exclusively provides services like lending and deposits to its members. Therefore, it can be said a Nidhi Company in India only consists of funding from its members and shareholders.
Starting a Nidhi Company in India means starting a Non-Banking Financial Companies class. They are governed by the Reserve Bank of India. This body tells the registered Nidhi Company guidelines about lending and depositing activities. However, Nidhi Companies can only deal with their members. Therefore outside members are not allowed.
What would be the name of the Company?
What amount of capital would be invented in the company?
What would be the principal place of business?
What would be the capital-sharing ratio among members?
How many members would the company have?
Who would be the first directors of the company?
Following Documents are required :-
Taxtorium can help you in obtaining Nidhi Company Registration in India. All you need to do is place an online order with us and we shall help you start it in no time. Your order shall be processed by our highly qualified team who shall ensure that the best quality services are provided to you. As mentioned earlier, our process of Nidhi company registration is completely online so there is no need for you to visit our office. Please do contact us for any clarifications you need.
Once we receive your request an expert reaches you, explains the whole process, and collects the necessary documents. The documents can be submitted online through our Taxtorium website. You shall have to ensure that the documents are authentic and updated.
First, the Directors of the Nidhi company are to apply for DIN (Director Identification Number) and DSC (Digital Signature Certificate). DIN is issued by the MCA and DSC is a digital signature used for all e-filing processes. This step can be skipped for the Director who already has DIN and DSC.
Now, you need to choose and suggest 3 different names to the MCA for your Nidhi Company. Out of these 3 names, only one will be accepted for your Company by the MCA. The proposed names must be unique and not matching to the names of other already registered companies. As per Rule 8 of the Company Act. The approved name will remain valid for 20 days only.
After approving the name, we can proceed with its incorporation. You are required to fill out the online SPICe+ application available on the official website of MCA. The application is divided into two parts- Part A for the name reservation and Part B for Nidhi company incorporation. The application is filled out and signed by any one director of the company and submitted to the ROC along with the prescribed set of documents attached with it.
It takes between 15-25 days to form a Nidhi company and get the incorporation certificate. This certificate declares that a company has been created and it mentions the company identification number (CIN) as well.
Lastly, you need to apply for both PAN and TAN. The PAN and TAN are usually received within 7 working days. Later, you have to get a bank account opened by submitting the Certificate of Incorporation, MoA, AoA, and PAN to the bank.
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What is Nidhi Company?
A Nidhi Company is a part of a Non-Banking Financial Company (NBFC), incorporated with the sole objective of accepting deposits and giving loans to its members.
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.
Why is the limit on deposits in Nidhi Company?
A Nidhi company is not to accept deposits of more than 20 times of it’s Net Owned Funds (NOF) as per it’s last audited financial statements.
How long does the registration process take?
You need to register the company as a limited company under the Companies Act, 2013. It takes approx 30-40 days to register a company.
What are the rules of membership in a Nidhi Company?
What is the purpose of the SPICe+ application?
SPICe+ is a web-based application which provides the end-to-end services of company registration, beginning from the reservation of the company’s name to the issuance of the Registration Certificate. Besides, it integrates 10 other services related to post-incorporation compliances, including PAN, TAN, EPF, ESI, PT, GST, Shops and Establishment Registrations, and opening a business bank account.
What is DIN? Is it mandatory for company registration?
A DIN is the Identification number allotted to the director of the company by the Ministry of Corporate Affairs. A company cannot appoint an individual as its director if he does not possess a DIN. All first and current directors of the company must have a DIN before Pvt Limited Company registration, as their DINs are required to be filled in the SPICe+ application. Additionally, if the company is looking forward to appointing new directors who do not possess DINs, they can apply for it through PART B of the application. The application for DIN through PART B is limited to a maximum of 3 directors only.
