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Nidhi Company Registration
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What is Nidhi Company ?
Get your query resolved by the BEST Nidhi Company Registration Consultant in India
Nidhi Company is a group of people who wish to facilitate easy funds availability among themselves at any point of time or requirement. It is a type of NBFC i.e., Non-Banking Financial Institution. The deposit and lending of funds is strictly among its members only. The main feature that distinguishes a Nidhi Company registration in India from any other financial legal structures is that a prior RBI approval or license is not required to conduct its business. Thus, if you wish to start a lending business in India, then Nidhi Company registration online is the best fit for you. Incorporation of a Nidhi Company comes under the provisions of Companies Act, 2013. Now the main question isโฆ.
Do you want to start your financing business ?
Start your own small bank. With the help of Nidhi Company Registration online you can provide loan, accept deposit and open saving accounts.
There is a need for companies which facilitates easy fund availability for the business. Nidhi Company registration consultants of Vakilgiri helps you to create your own Nidhi bank and helps you to understand the concept of a Nidhi Company.
Vakilgiri a leading Business Consultant, offering quick Nidhi Company Registration Online Service in India with five simple steps:
1. First and foremost, we will apply for your Digital Signature Certificate (DSC) and Director Identification Number (DIN)
2. Choosing a Unique Name for your Company.
3. Preparing required Nidhi Company registration documents.
4. Filing e-forms with MCA.
5. Allotment of COI. Congratulations, your Nidhi Bank Registration is now complete.
The only step left is to open your Nidhi Company Current Bank Account using the COI allotted by the MCA department. You can begin your Lending business operations now.
It is important to note that:
Nidhi Company Registration are a sort of NBFC (Non-Banking Financial Corporation) that is regulated and managed by the Companies Act, 2013. The single essential aspect that sets this company from others is that it only accept deposits from and makes loans to its members, i.e., shareholders, and it only works for the mutual benefit of its members. The RBI has exempted this company from the RBI Act of 1934โs main regulations because it exclusively deals with the money of its owners or members.
Features of Nidhi Company
Features you can't resist
Separate Legal Entity
In a Nidhi Company Registration, the Company, Directors and its Shareholders are considered as Separate Legal entities, thus shields from personal liability and protects from other risks and losses.
Easy to change owners
It is easy to change the members and directors at any given point of time. The cost associated with the addition or removal of Directors or Shareholders from a Nidhi Company is quite nominal and the process can be completed within the same day as well.
No RBI Regulations
The Benefit of Nidhi Company Incorporation is that, it does not require to take prior approval from RBI to start its loan business. Thus, the Comapny can start its business as soon as it incorporates.
Interest Income
Nidhi Company enjoys the benefit of having a steady income in the form of Interst inome. Also, Nidhi Comapny can earn Interest upto 20% P.a.
Ease of Expansion
Nidhi Comapny can open maximum upto 3 branches within the district after sucessfully completing its 3 years after incorporation.
Safe Lending
Nidhi Company is allowed to lend money against securities like gold, immovable property, FDs, etc. thus providing the adequate resources for recovery.
Minimum Investment
Nidhi Company can be incorporated with a minimum paid up capital of Rs. 5 Lakhs.
Low Risk of NPAs
As we all know that Nidhi Company is allowed to deal with its members only, it provides reasonable assurity about the safety of the money lend by it.
Easy fund Availibility
A Nidhi Company Registration is required to make minimum of 200 members which ultimately provides it with easy fund availability from its members.
What's Next ?
Documents Required
For Nidhi Company Registration Process
Vakilgiri- The Best Nidhi Company Registration Consultant in India requires following documents for the incorporation:
- PAN Card or Passport (Foreign Nationals & NRIs)
- Copy of Aadhaar Card
- Passport-sized Photograh
- Email Ids & Mobile Number
- Latest bank statement (2 months)/ telephone or mobile bill/ electricity or gas bill
- 2 Suggested Names of the Company
- Latest Electricity Bill for Registered Office of Company
FAQ's
Few doubts important to be resolved quickly
A minimum of 7 members are required to start a Nidhi Company out of which 3 members must be the directors of the company.
No, Nidhi Company Registration is a fully online process as all the documents and e-forms are to be filed electronically on MCA Portal. Hence, the physical presence of any of the directors or members is not required at all. Get in touch with Vakilgiri- The Best Nidhi Company Registration Consultants now & get started with the registration process now.
The DSC is an instrument which looks like a pen drive but it is nothing like a pen drive. It enables you to sign the documents like PDF electronically.
MOA & AOA contains all the rules, vision and mission of your private limited company, and defines the exact roles and responsibilities of shareholders and directors.
No, Nidhi Company is not required to take any prior approval of RBI before starting its lending business. Thus, the Company can start its lending business as soon as it gets incorporated.
The word โNidhiโ is derived from the Hindi language and is known as โFundsโ in English. The basic objective of the GOI behind introducing the concept of Nidhi Companies is to provide adequate funds to the general public without having any interventions from government and its agencies like RBI. Thus, the word โNidhiโ is introduced by the Govt. for such companies.
Nidhi Company can accept deposits a maximum upto 20 times of its Net Owned Funds (Where, Net Owned Funds = Equity Share Capital + Free Reserves โ Accumulated Losses โ Intangible Assets).
For Example, if you have started a Nidhi Company with Rs.10 lakh, then you will be able to accept deposits of Rs.2 crore (i.e. twenty times).
Nidhi Company can only issue Equity shares and is prohibited to issue preference shares, debentures or any other debt instrument.
A Nidhi Company Registration Online can be incorporated with a minimum paid up capital of Rs.5 lakhs. However, the Company is required to raise its Net Owned Funds to at least Rs.10 lakhs within 1 year from the date of its commencement ( Where, Net Owned Funds = Equity Share Capital + Free Reserves โ Accumulated Losses โ Intangible Assets).
Nidhi Company is required to make at least 200 members within 1 year from the date of commencement of business.
If a Nidhi Company is accepting deposits, it has to maintain atleast 10% of the outstanding deposits as unencumbered deposits within 1 year from the date of commencement of its business.
A Nidhi Company is not allowed advertise to attract more deposits from its members. However, there is no such restrictions regarding giving loans. Hence, a Nidhi Company can advertise to provide loans to its members.
A Nidhi company is not allowed to carry on the business of chit fund, hire purchase finance, leasing finance, insurance or acquisition of securities issued by any corporate.
No, a Nidhi Company is not allowed to open a current account for its members.
A maximum of 3 branches within its district of operations can be opened only when the company has earned net profit after tax continously for 3 years. Also, if a Nidhi Company wants to open more than 3 branches within its district or any branch outside its district but within the state, it is required to take prior permission of Regional Director and an intimation is also to be given to the ROC within 30 days of opening of any branch.
A Nidhi Company is allowed to open its branches within the same state but is not allowed to open its branch in any other state. That means, a new Nidhi Company has to incorporated for every new state.
A Nidhi Company can offer mainly 3 types of loan facilities to its members, they are as follows:
1. Gold Loan
2. Loan Against property.
3. Loan against FD, govt. bonds, etc.
A Nidhi Company offers the following deposit facilities to its members :
1. Recurring Deposits (RD)
2. Fixed Deposits (FD)
3. Saving Accounts
Yes, it is mandatory for a Nidhi Company incorporate words โNidhi Limitedโ after its name.
Check Company Name Availability
Our systems will check availability of your Company Name
Nidhi Company Registration Procedure
More simple than it looks!
1. Preparations of Digital Signature (DSC)
1st we apply for DSCs of all the Directors & Subscribers. Digital Signatures are required for signing all the documents while incorporating your Nidhi Company.
2. Filing Application for Director's DIN
After DSCs, we will apply for the Director Identification Number (DIN) for each of the proposed directors. It is the unique number allotted by the MCA to each director of the Proposed Nidhi Company.
3. Choosing Unique Name for your Nidhi Company
Meanwhile applying for your digital signatures, we will help you in selecting a Unique Name for your Company. This process completes on the same day.
4. Preparing Forms and Documents
Once your Company name is approves, our experts will start preparing all the required e-forms and other documents. These documents will contain the companyโs business objectives i.e., MOA and AOA and other legal documents that needs to be submitted to the department.
5. Filing e-forms with MCA
After completing all the formalities and documents, we upload e-forms prepared in step-3 on the MCA portal which takes approx 2 days for either approval or rejection. Relax, our experts will get your Nidhi Company registered in a single shot.
6. Allotment of COI, PAN & TAN
Once, the approval is confirmed from the department, the MCA will issue the Certificate of Incorporation, the companyโs PAN and TAN using which a Current Bank Account can be opened and you can start your business operations right away. CONGRATULATIONS.
REQUIREMENTS FOR POST-NIDHI COMPANY REGISTRATION
must remember points
After the completion of Nidhi Company Registration Process Online, there are some requirements that need to be fulfilled within a specific time range. Below are the requirements for post- Nidhi Company Registration in India:
At least 200 people
The firm must have at least 200 shareholders or members by the end of the first year, according to the first condition. It is also required to submit a list of all members in this particular Form within 1 month of the conclusion of each fiscal year.
The NOF should be at least Rs 10 lacs
The NOF (Net Owned Funds) is discussed in the second post-requirement. The companyโs NOF must be greater than or equal to Rs 10 lakhs.
The NOF-to-Deposits Ratio
The Net Owned Funds to Deposit Ratio must be more than 1:20.
Unencumbered Deposits
Unencumbered deposits must account for at least 10% of total deposits.
For more detailed information, fill the form to request a call back from Experts or you can directly contact at : 9528317071
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Our Incredible Packages
India's Best Nidhi Company Registration Consultants
GOLD
- Registration in 10 days
- Authorised Capital upto 15 lacs
- 3 DIN & 7 DSC (Class-3)
- Certificate of Incorporation
- MOA, AOA, PAN, TAN, ESIC
- GST Registration
- ISO Certification (1 Year)
- Professional Website
- 1 year Domain & Hosting
- Basic On-Page SEO
- Google Analytics & Web mails
- Commencement Certificate
- Trademark Registration
- Auditor Appointment
- ITR of Company
- Audit & Annual Compliances
PLATINUM
- Registration in 10 days
- Authorised Capital upto 15 lacs
- 3 DIN & 7 DSC (Class-3)
- Certificate Of Incorporation
- MOA, AOA, PAN, TAN, ESIC
- GST Registration
- ISO Certification (1 Year)
- Professional Website
- Website Support for 1 year
- 1 year Domain & Hosting
- Basic On-page SEO
- Google Analytics & Web mails
- Commencement Certificate
- Trademark Registration
- Auditor Appointment
- ITR of Company
- Audit & Annual Compliances
DIAMOND
- Registration in 10 days
- Authorised Capital upto 15 lacs
- 3 DIN & 7 DSC (Class-3)
- Certificate Of Incorporation
- PAN, TAN, MOA, AOA, ESIC
- GST Registration
- Professional Website
- Website Support for 1 year
- Google Analytics & Web mails
- ISO Certification (1 Year)
- Trademark Registration
- Commencement Certificate
- Auditor Appointment
- ITR of Company
- Audit & Annual Compliances
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