Are you looking for a trusted partner?
Nidhi Company Registration: Make Saving Fun🚀
A Nidhi Company is like the financial BFF you didn’t know you needed. Think of it as a savings club for members, helping them save money and access financial support without the headaches of a traditional bank.
- Tax Exemption: Eligible for certain tax exemptions provided if you meet certain conditions.
- Liquidity and Stability: Offer loans that are backed by the deposits of their members.
- Legal Identity & Governance: You can own property, enter contracts, and sue or be sued.
- Dividend Distribution: Distribute profits in the form of dividends to the members.
Ready to take the first step? Partner with Compliance Monk and watch your dream of starting a Nidhi Company come to life. Saving money and supporting your community has never been this easy—or this fun!
Key Advantages
Expert Guidance
Our skilled professionals will navigate you through every step, making the registration experience seamless.
Quick Turnaround
We value your time and ensure prompt services, helping you initiate your business promptly and effectively.
Reliable Support
Our dedicated support team is always ready to answer your questions, assisting you every step of the way.
Nidhi Company Registration
Why Choose a Nidhi Company? Because the World Needs You!
Formed under the Companies Act, 2013, a Nidhi Company operates as a Non-Banking Financial Company (NBFC) but doesn’t need the Reserve Bank of India (RBI) breathing down its neck (no RBI license required!). It’s a public limited company, and the name must include “Nidhi Limited” because, well, rules are rules.
Why Start a Nidhi Company?
The primary goal of a Nidhi Company is to create a mutual benefit society where members support each other financially. Here’s what it focuses on:
- Savings: Encourage members to build healthy financial habits.
- Loans: Provide quick, low-interest loans to members.
- Support: Promote self-sufficiency and mutual cooperation among members.
In short, it’s a win-win for everyone involved!
Nidhi Company Registration Requirements 🗂️
To set up a Nidhi Company, you’ll need:
- 7 Members: Minimum at the start.
- 3 Directors: To run the show.
- 200 Members: Within the first year of operation.
Documents Checklist: No Paperwork? No Party! 📋
Here’s your checklist:
- Proof of registered office address (ownership/rental documents).
- No Objection Certificate (NOC) from the property owner.
- PAN cards, ID proofs, and address proofs for all members.
- Passport-sized photographs.
- MOA and AOA (don’t worry, we’ll help you draft these).
- DSC and DIN for directors.
Ensure all documents are clear and up-to-date to avoid delays in the registration process.
What a Nidhi Company Can’t Do?
Sorry, but no funny business allowed! Nidhi Companies must stick to the basics and avoid:
- Running chit funds, leasing, insurance, or securities businesses.
- Accepting deposits or lending money to non-members.
- Advertising publicly to attract deposits.
Show Me the Money! (Capital Requirements)
You don’t need a fortune to start your Nidhi Company, but here’s what’s required:
- Minimum Equity Share Capital: ₹5 lakhs.
- No Preference Shares: Only equity, please!
- Net Owned Funds: At least ₹10 lakhs within the first year.
Step-by-Step: Your Roadmap to Pvt Ltd Registration 🛤️
Here’s the roadmap to getting your Nidhi Company up and running:
- Get Digital Signature Certificates (DSC): For all directors to sign forms digitally.
- Apply for Director Identification Numbers (DIN): Use Form DIR-3 or SPICe+.
- Choose a Name: File Form SPICe+ to reserve your unique name ending with “Nidhi Limited.”
- Draft Your MoA and AoA: These define the rules and objectives of your company.
- File for Incorporation: Submit Form SPICe+ with all documents to the Registrar of Companies (RoC).
- Certificate of Incorporation (COI): Once approved, you’ll receive your official COI—congrats, you’re in business!
Conditions to Maintain Your Nidhi Status
To keep your Nidhi Company status, you’ll need to meet these goals within your first year:
- Membership: At least 200 members.
- Net Owned Funds: Minimum ₹10 lakhs (calculated as Equity Share Capital + Free Reserves – Losses – Intangible Assets).
- Term Deposits: Maintain 10% of your outstanding deposits in unencumbered term deposits.
- Net Owned Funds to Deposits Ratio: Keep it under 1:20.
Why Choose Compliance Monk?
Because you deserve a hassle-free experience! At Compliance Monk, we make the entire process as smooth as possible:
At Compliance Monk, we offer end-to-end assistance in Nidhi company registration. Our expert team ensures:
- Simplified Processes: We handle the paperwork, so you don’t have to.
- Expert Guidance: From incorporation to compliance, we’ve got your back.
- Affordable Services: No hidden fees—just clear and honest pricing.
- Ongoing Support: We’re here to ensure your company stays compliant and runs smoothly.
FAQs
1.What is a Nidhi Company?
A Nidhi Company is a type of Non-Banking Financial Company (NBFC) that promotes savings and lends money among its members. It operates on the principle of mutual benefit and is governed by the Companies Act, 2013.
2. Who can start a Nidhi Company?
Any individual or group of individuals can start a Nidhi Company, provided they meet the membership and share capital requirements under the Companies Act.
3. Is RBI approval required for a Nidhi Company?
No, a Nidhi Company does not require approval or licensing from the Reserve Bank of India (RBI). It is regulated by the Ministry of Corporate Affairs (MCA).
4. What are the minimum requirements for incorporating a Nidhi Company?
- Minimum Members: 7 (including 3 directors).
- Minimum Share Capital: ₹5 lakhs.
- Name Requirement: Must include “Nidhi Limited.”
5. Can a Nidhi Company lend money to non-members?
No, a Nidhi Company is strictly prohibited from lending to or accepting deposits from non-members.
6. What are the annual compliance requirements for a Nidhi Company?
A Nidhi Company must file NDH-1 annually, NDH-3 half-yearly, and NDH-2 if seeking an extension for compliance.
7. What happens if the compliance requirements are not met?
If the company fails to meet compliance criteria within the first year or extension period, it cannot accept further deposits and may face penalties.
8. Can a Nidhi Company issue preference shares?
No, a Nidhi Company is not allowed to issue preference shares as per its governing regulations.
9. What is the role of Compliance Monk in Nidhi Company registration?
Compliance Monk provides end-to-end assistance for incorporation, compliance management, and operational guidance, ensuring the process is hassle-free and legally sound.
10. What is the timeline for Nidhi Company incorporation?
The incorporation process typically takes 15-30 days, depending on the accuracy of documents and approvals by the Registrar of Companies (RoC).