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Read MoreKey Information
Benefits of Nidhi Company Registration
Nidhi Company Registration Process
Minimum Requirements for Nidhi Company Registration
Documents Required for Nidhi Company Registration
Nidhi Company Registration Fees
Post-Incorporation Compliance for Nidhi Companies
Frequently Asked Questions (FAQs) on Nidhi Company Registration
What is a Nidhi Company?
A Nidhi Company is a type of Non-Banking Financial Company (NBFC) that primarily focuses on lending and borrowing money among its members. The main goal of a Nidhi Company is to promote a culture of savings and provide mutual financial benefits. Unlike other NBFCs, a Nidhi Company does not require an RBI license, making the registration process easier. It operates as a public limited company, and the name must include “Nidhi Limited.”
Benefits of Nidhi Company Registration
Promotes Savings: A Nidhi Company encourages members to develop a savings habit.
No RBI Regulations:Unlike other NBFCs, a Nidhi Company does not need RBI approval to operate.
Limited Liability: Members of a Nidhi Company enjoy limited liability, ensuring their personal assets are protected.
Separate Legal Entity: A Nidhi Company can acquire assets and liabilities in its own name, independent of its members.
Nidhi Company Registration Process
BizMantra streamlines the Nidhi Company Registration process through the following steps:
Digital Signature Certificate (DSC): Since the registration is digital, all directors need a DSC. You can get it through certified agencies, with issuance within 24 hours.
Application for Name Availability: File the name application using the SPICe RUN form, defining the company’s objectives and industry code.
Filing SPICe Form (INC-32): After name approval, fill out the SPICe+ form with company details, subscribers' information, and PAN/TAN applications.
Filing e-MoA & e-AoA: Submit the Memorandum of Association (MoA) and Articles of Association (AoA) electronically, outlining the company's structure.
Issuance of Certificate: After approval, you'll receive the Certificate of Incorporation, PAN, and TAN. You can now open a bank account.
Minimum Requirements for Nidhi Company Registration
A minimum of 7 members.
At least 3 members must be directors.
Minimum authorized capital: ₹10 lakhs.
Minimum share capital: ₹10 lakhs.
The company can only accept deposits and lend money to its members.
Documents Required for Nidhi Company Registration
Aadhaar or Voter ID of members
PAN Card of members
Email address and phone number
Proof of business address
Bank statement (within the last 2 months)
No Objection Certificate (NOC) from the property owner
