Nidhi Company falls in Indian NBFC (Non Banking Financial Company) sector in India. It mainly conducts into money lending and borrowing business, but there is a catch. In this type of organization, only members of the company can make deposits or invest and take loans. One Click Business Solutions help growing entrepreneurs to process their nidhi company registration documents accurately and perform the registration process in fastest and hassle-free ways.
The people who never try because they feel that there are complications and too many formalities. It was a matter of the past, now it’s very easy to Incorporate nidhi company in India. Start a banking or NBFC company, there are huge formalities. Also, need certification from the Reserve Bank of India (RBI) in this regard. Establishing a new business feels like a distant dream for many. Some of them never try to do it, some never even try.
Nidhi Company promotes the idea of savings among its members. It is very simple, yet unique concept. It’s a kind of mutual benefit company or mutual benefit fund that ultimately works for the benefit of its members only. Get festival special offer of nidhi company registration at lowest price in Maharashtra, Uttar Pradesh, West Bengal, Delhi, Rajasthan, Bihar, Madhya Pradesh and all over India.
There are some pre incorporation of nidhi company measurements needs to be taken if you wish to go forward with it.
Pre Incorporation of Nidhi Company Measurements
- As a public limited company, Nidhi Company needs minimum 3 directors and 7 members.
- There is a minimum capital requirement of ₹5 lakh.
- The equity share must not surpass Rs. 10/-
- The main purpose of the company must be to promote money saving activity among the members.
- Cannot issue preferential share.
- The Company name must be concluded with “Nidhi Limited” word.
Quick Nidhi Company Registration Process
- Get Digital Signature Certificate for the proposed Members and Directors.
- Collect Director Identification Number for the planned director.
- Apply for an appropriate name for the Nidhi Company to the Registrar of Companies (ROC) along with respective documents. The RUN (Reserve Unique Name) portal of ROC can be utilized for this purpose which is available online.
- Prepare a draft of company Memorandum of Association and Articles of Association and finalize the same. These are needed to be submitted to the ROC at the time of incorporation application.
Documents Required for Nidhi Company Registration which are following.
- Pan Card of Directors and Shareholders
- ID Proof Directors & Shareholders
- Bank Statement
- Passport Size Photo
- Registered Office Proof
Post Incorporation Rules
- After the incorporation is done, you need PAN (Permanent Account Number) and TAN (Tax Account Number) for your Nidhi Limited.
- Need to open Current account in the name of the company to conduct businesses, smoothly.
- Within one year of the incorporation, it needs minimum 200 members to carry on with it.
- Form NDH-1, NDH-2, NDH-3, Annual Return, Profit and Loss statements, Income tax return, declaration of ratio between net owned fund and deposit (1:20) are required when applicable.