Nidhi Company Registration - Overview
Nidhi Company is a Type of NBFC ’ Non Banking Financial Company. Nidhi Company borrows finances from its Members & lend to Members. Nidhi Company is registered as a Public company & should have Nidhi Limited as its last name. Nidhi business structure is a best suitable for the young entrepreneurs who wants to enter the world of finance business.
The business structure is primarily formed to provide Funds. Members use this entity to lend funds to other members. Nidhi Company Registration is easy process when compared to other NBFCs. Nidhi companies also enjoy certain Exemptions in respect of taxation & annual compliances.
Minimum of 7 Shareholders of members are required for Nidhi Company. Minimum of 3 Directors also required. Minimum of 5 Lakhs is required for Capital Requirement.
Documents Required For Registration
- PAN Card of Members Pancard of members associated with the company.
- Identity Proof of Members, such as aadhar card and Voter ID/ Passport/ Driving License.
- Address Proof of Directors, such as the latest Telephone Bill /Electricity Bill/ Bank Account Statement.
- Passport size photograph of Members and Directors of company.
- Business Address Proofs such as latest Electricity Bill/ Telephone Bill of the registered office address
- NOC or No Objection Certificate to be obtained from the owner(s) of registered office
- Rent Agreement is needed if the registered office is a rented place.
Process To Register
- Applying for Digital Signature Certificate or DSC.
- Applying for the Director Identification Number or DIN
- Checking name availability and Applying for the name availability.
- Drafting of MoA, AoA& other required documents to register Nidhi company
- Applying for the PAN and TAN of the registering company
- Certificate of incorporation will be granted by RoC with PAN and TAN
- Opening a current account on the company name in an authorized bank
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