Overview
A Nidhi company, is one that belongs to the non-banking Indian finance sector and is recognized under section 406 of the Companies Act, 2013. Their core business is borrowing and lending money between their members. Nidhi Companies cannot deal with anybody other than its members.
Nidhi Company registration is simple and less complexed as compared to other types of finance companies like NBFC which require RBI license to start. A Nidhi Company can be started with an initial capital of Rs.5 lakh and require at least seven people to start with. Nidhi Company registration also require three directors initially. Every promoter or director shall need a copy of PAN card, ID proof and address proof to apply for Nidhi Company in India. It takes around 15 to 20 days to get Nidhi Company registered in India.
Benefits of a Private Limited Company
- The directors need not retire by rotation.
Obligations of a Private Limited Company
- Complying with Statutory laws such as Excise Duty, Sales Tax, Service Tax, etc.
Why Choose Nidhi Company Registration
- No External Involvement in Management
- Helpful for Lower and Middle Classes
- Low Rates of Interest
- Secured Investments
- Minimum Documentation and Formalities
Required Documents
- Copy of Rental Agreement (along with NOC from owner)/Sale Deed in case of own property.
- Telephone or Mobile Bill/Electricity or Gas Bill Scanned copy of Notarized Rental Agreement in English
- Affidavit from director and shareholders
- Copy of PAN card, Identity and Address Proof for DIN for up to 3 directors
Process
Due to Digitalization of registration process, it’s become easy to register the private limited company
Obtaining DSC & DIN
Due to online process at least one director need to have digital signature (Dsc) which is required to sign electronic document.
For obtaining DSC, self-attested copy of director's pan card & his address proof is required.
Obtaining DSC & DIN
Firstly You need to find your name has not been taken
Secondly, you need to comply with the MCA guidelines. You can do so by ensuring that the name has a unique component and a descriptive component.
Company Registration Form & MoA & AoA Submission
Copy of Rental Agreement (along with NOC from owner)/Sale Deed in case of own property
Telephone or Mobile Bill/Electricity or Gas Bill Scanned copy of Notarized Rental Agreement in English
Affidavit from director and shareholders
Copy of PAN card, Identity and Address Proof for DIN for up to 3 directors
Company Incorporation Certificate
Once all the documents are approved by MCA , it will issue a incorpation certificate.
Apply for PAN & TAN & Bank Account
On the basis of incorporation certificate u can apply for the TAN , PAN & Bank.