Access to Experts for Meeting Realistic Expectations
CAAQ is a global leader in offering end-to-end assistance for company compliance. We offer digital solutions to legitimately register and comply with the prescribed laws. Our expertise is internationally recognized for coordinating and offering support online & offline. We follow a seamless interactive process for Nidhi Company registration in India. Our team always provides a crystal clear picture of the incorporation process while meeting real-time expectations. Discover more about what Nidhi Company is with our experts.
Nidhi Company is classified as an NFBC (a Non-Banking Financing Company). Its core function is to lend money between its members. The Ministry of Corporate Affairs regulates & RBI monitors it. We help you to register it under Section 406 of the Companies Act, 2013. We have over a decade-old experienced team of CA, CS, and proficient lawyers. It is an expert in guiding you about how to overcome challenges while registering this company in a fast turnaround time. Our Nidhi Company registration consultants also help in proper documentation, preparation, filing, and following up with ROC.
Merits of Nidhi Company
Discover Advantages that this Company Offers
Limited RBI Regulatory Compliance - This company can be incorporated as a Public Limited Company. The RBI license is not necessary to be acquired for running it.
Less Risky- This type of company can offer loans and also, accept deposits with its members only. The outside investors are not allowed.
Limited Capital Requirement- According to Nidhi Rules in 2014, the minimum capital requirement for registering it is INR 10 lakhs only.
Simple Process- You require seven members, together with some basic documents for incorporating this company with the MOA.
Uninterrupted Life Cycle- This company continues to run even if one member dies, turns insolvent, insane, or takes retirement. It defines its continued life cycle
Encourage Savings- This company promotes the idea of saving and an economical lifestyle. The benefit of the company is mutual and each member can borrow money, or accept financial gains.
Minimal Requirements to be Fulfilled
Not to Follow Practices
For registering Nidhi Company at the best price, you should avoid practices like Chit Fund, Hire-Purchase Finance, Leasing Finance, Insurance, and Securities Business.
Number of Members
You may start it with seven members as a public limited company. But, the count of members should reach 200 over a year to retain Nidhi Company status.
It requires minimum paid-up equity capital worth INR 10,00,000 assistance by at least 200 members for retaining its status.
Determine a unique name for this company. It should not match with the existing company or a trademark.
Standard Process for Registration of Nidhi Company
End-to-end consultation on how to successfully register the company
Digital Signature of Director
This process starts with issuing digital signatures of class two for the application of company incorporation online.
Name Approval of Company
The company name should end with Nidhi Limited. Also, you should select a unique name that does not match with existing companies or trademarks.
Filling for Incorporation
An application form, i.e. Spice 32, is filed for the incorporation of this company. Upon approval, we hand over the certificate.
Obtaining the Nidhi Company Status
With the application for the Nidhi Company, one must show up the net worth of the company INR ten lacs or more from its minimum 200 members.
Checklist of Documents
Do enclose valid and complete list of these documents
- Photo & Identity Proof of Each Promoter
- Address Proof of Promoter
- PAN Card of Each Promoter
Registered Office Documents
- Proof of Registered Office Premises
- Utility Bill as the latest proof
- No Objection Certificate