Business Registrations
Nidhi Company
What Is a Nidhi Company?
Nidhi Companies are a type of NBFC that is founded, governed, and regulated by Section 406 of the revised Indian Companies Act of 2013, as well as the Companies (Nidhi Companies) Rules of 2014. The goal of forming a Nidhi Company is to encourage savings and frugality among its members and it tries to achieve this goal by instilling in its members the habit of saving and thrift. They are only permitted to accept deposits from and lend to members, implying that cash given to a Nidhi company comes from its members (shareholders) and is only to be used by the shareholders of the Nidhi Company. The RBI oversees all of its financial transactions, and it is governed by the Ministry of Corporate Affairs. Get your Nidhi Company registered in India quickly and effortlessly by partnering with India’s leading Nidhi Company Registration service provider. Our team of experts will assist you every step of the way.
Features of a Nidhi Company
- Capital Requirement: As per Nidhi Rules, 2014, the minimum capital requirement for Nidhi Company Registration in India is Rs. 10 lakhs only.
- Encourages Savings: It aids in the development of the habit of saving and thrifting among its members. There is no outside involvement because it is not governed by any trusts or committees. It is an investing feature that the investors possess. Nidhi funds are thus governed by their members.
- Borrowings: A member can borrow money at a lower interest rate than a bank and with fewer responsibilities.
- Uninterrupted Operations: The normal operations of a Nidhi Company Registration are not uninterrupted even at the death, insanity, insolvency, or retirement of any member. However, the Nidhi Company will remain in operation irrespective of any such inevitable change in any type of membership.
Documents required
Documents for Indian Directors or Promoters
- PAN Card of all the Shareholders and Directors of the Company.
- A recent passport-sized photograph of the shareholder/director (in jpeg/pdf format).
- ID proof such as Voter ID Card/Passport/Driving Licence is acceptable forms of identification.
- Proof of Address such as Bank Statement/Recent Electricity/Telephone/Mobile Bill
Documents for Registered Office
- A copy of the most recent bank statement (within the past three months) or a copy of the most recent telephone bill, mobile bill, energy or gas bill (within the last two months) or,
- Copies of property tax receipts,
- Notarized rental/lease agreement,
- Scanned copy of sale deed/property deed,
Property owner’s no objection certificate
Beyond Incorporation: Ongoing Support
Our services extend beyond incorporation. We can assist you with:
- Maintaining Statutory Registers and Books of Accounts
- Taxation Planning and Compliance
- Financial Reporting and Analysis
- Secretarial Services
Get in Touch with Us Today
Ready to embark on your entrepreneurial journey with a Nidhi company? Contact Ease Compliance We’ll ensure a smooth incorporation process and provide ongoing support to help your business flourish.