Nidhi Company

Get Registered

DSC and DIN

Name reservation via RUN (One Time)

MOA and AOA

Certificate of Incorporation

PAN & TAN

Note: – Difference in Stamp duty as per State Stamp Act if any shall be paid by the client.


Introduction

What is Nidhi Company?

Nidhi Company is a company registered under the Companies Act, 2013, which has a sole objective of cultivating the habit of thrift and savings amongst its members. Nidhi companies are allowed to take deposit from its members and lend to its members only for their mutual benefits. Therefore, the funds contributed for a Nidhi company are only from its members (shareholders) and used only by the shareholders of the Nidhi Company.

Since Nidhis come under one class of NBFCs, the RBI is empowered to issue directions to them in matters relating to their deposit acceptance activities. However, since Nidhis deal with their shareholder-members only, RBI has exempted such notified firms from the core provisions of the RBI Act and other directions applicable to NBFCs. Therefore, Nidhi Company is an ideal entity to take deposit from and lend to a specific group of people.

A Nidhi Company is registered with a minimum capital of Rs. 10 lakh having three directors and seven shareholders. Corporate Advisor can help you register your Nidhi Company.

What Makes a Nidhi Company, So Unique

Separate Legal Existence

Nidhi Company is a separate legal entity from its promoter or shareholders. That is the members of the Company have no liability to the creditors of a Company for any debts. It can own property and also incur debts

Easy to Manage

Nidhi Company has less compliance to follow unlike other companies. Any director of a nidhi Company can be easily changed by filing forms with Registrar of Companies.

Better Credibility

Nidhi Company are registered and monitored by Central Government therefore it enjoys better credibility when compared to any Mutual Benefit Organizations

Perpetual Succession

A Nidhi Company being a separate legal person is unaffected by death or disability of any director. It continues to exist unless and until it is winded up legally.

Limited Liability

Limited liability means the liability of the members is limited to the extent of their share taken up by them. There is no personal liability of director(s)/shareholder(s).

Procedure

LLP is one of the easiest organized form of business to incorporate and manage in India. With an easy incorporation process and simple compliance formalities, LLP is generally preferred by Professionals, Micro and Small businesses that are either family owned or closely-held. Since, LLP should not be used for any business that has plans for raising equity funds during its lifecycle as LLPs are not permitted to issue equity shares.

Steps

  1. Obtain Digital Signature Certificate (DSC)
  2. Obtain Director Identification Number (DIN)
  3. Name Reservation Applicatiom to be filed with ROC
  4. After the name is approved, apply for incorporation
  5. Obtain Certificate of incorporation and PAN & TAN-Work - complete

Documents Required

  Self Attested copy of PAN for Indian Nationals and Notarised Passport for Foreign Nationals.

  Self Attested copy of Identity Proof of all the Directors and Shareholders- Voter Id/ Driving License/ Passport/ Aadhar Card/
   Bank Statement / Electricity Bill (Any One)

  Self Attested copy of Additional Identity Proof of all the Directors and Shareholders - Bank Statement / Electricity Bill/
   Telephone Bill/ Gas connection Bill (Any One)

  Municipal Registered Deed/ House Tax Paid Receipt of the Registered Office (if owned) Rent Agreement & NOC is also
  required in case property is not owned.

  Additional Proof of the Registered Office- Electricity Bill/ Telephone Bill/ Mobile Bill (Any One)

  Bank Statement/ First Page of Pass Book/ Printed Cancelled Cheque is required for Bank Account proof which must contain
   Account No & IFSC Code (For GST Registration).

  Required Business Name.

  Hard Copy of Digital Signature Application Form signed Individually by all the Directors/ Subscribers

What we can do

We at Compliance Advisor are providing registration and Compliances services in India, offering registrations of Limited Liability Partnerships (“LLPs”), Partnerships, Private Limited Company, Nidhi Company, one person company (“OPCs”), Nidhi Company, Section 8 Company, Producer Company and Indian Subsidiary of a Foreign entity. Average 10-15 working days required to complete a Incorporation, subject to submission of complete documents by the client and the government processing time.

For any query related to Incorporations and business formation in India, get free advice by scheduling an appointment with a Compliance Advisor.

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