In recent years, Nidhi Company registration has been increased. Many people who wanted to invest their money in a secured platform, and earn the benefits are joining this type of organization here. But why people are having so much interest in Nidhi Company? Let’s find out.
About Nidhi Company
Nidhi Company is mainly a type of Mutual Benefit Company. The main objective of the organization is to assemble the propensity for saving among its members or shareholders. One thing is clear that this type of organization work for the members and by the members only. Members can deposit money in the company, and the money is utilized to loan the other members.
Nidhi is like a large group of individual people where the company takes money from one member and gives the same as a credit to other members. This way the money gets circulated. The structure of the Company is quite different from other types of companies; this makes it easy to Register Nidhi Company in Uttar Pradesh. But how easy it is? We will be explaining it here.
Requirements of Nidhi Company
There are some simple requirements that people need to accomplish in order to Incorporate Nidhi Company in Rajasthan. Let’s have a look at those preconditions.
- It requires at least 7 people as members/shareholders and 3 people as the Director of the proposed Nidhi Company.
- It is very important to mention that Nidhi is a “Public Limited Company” by default. Hence, at the end of the company name, the term “Nidhi Limited” must be mentioned.
- 5 Lakhs paid-up share capital is a must in applying for the registration.
Process of Nidhi Company Registration
As a leading Nidhi Company registration consultant in UP, we follow the below-mentioned 5 simple steps to get it done.
1. Select for an Appropriate Name
At first, people need to select a proper name for the proposed Nidhi Company. The easiest process to accomplish it is to go with the online process in the Ministry of Corporate Affairs portal. The RUN (Reserve Unique Name) portal is there to complete the whole process. People can select 2 unique names and apply. If everything is ok, then the name would be approved within 48 hours.
2. Apply for Digital Signature Certificate
Now, it’s time to apply for the Digital Signature Certificate (DSC) for all applicable members. For this purpose, the members need to come up with Aadhar & PAN card, mobile number, and Email ID and submit to the authority.
3. Application for Directors Identification Number
Also, the proposed directors of the Nidhi Company need to have Director Identification Number (DIN). It is a unique identification number assigned to the people who wish to be the director of the proposed Nidhi Company in Rajasthan.
4. Draft MOA and AOA
In this step, people have to prepare a draft of the Nidhi Company’s Memorandum of Association (MOA) as well as Articles of Association (AOA). After finalizing these two important documents, these documents have to be submitted to the Registrar of Companies for incorporation.
5. Final Application for Incorporation
This is the final step for the incorporation of the new Nidhi Company. An incorporation form needs to be filled and submitted by the company members along with the above-mentioned documents and several other documents to the registrar authority. It’ll take 10-15 days to get the final incorporation certificate.
Hire Services from the Expert
Well, this was the simple way to register a Nidhi Company. If anyone wishes to hire an expert to get the job done on their behalf, our professionals are there to assist in all the way. Nidhi Company registration fees in Uttar Pradesh is much more lowest to any other state in India.
Post Incorporation requirement of Nidhi Company
After the incorporation is done, people need to fill in some other requirements that are mentioned below.
- Get PAN and TAN for the newly incorporated Nidhi Company.
- Open a current account in the name of the Company.
- Make at least 200 members for the Nidhi Company to run its operations within one year of registration.
- The net owned fund needs to increase to Rs. 10, 00,000 (Ten Lakhs) or more.
- The ratio between the net owned fund and deposits must not exceed 1:20.
Well, these are the procedures that people can utilize in order to make a Nidhi Company and run the operations. If anyone wishes to know “How to operate Nidhi Company?” then they can contact One Click Business Solutions and get all the assistance from our experts.