Nidhi Company Registration

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Nidhi Company Registration

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Registration within 7days
100% Online Process | No Office visit required
Get COI+PAN+LLP DEED+2 DSCs+2DINs
Capital upto 1 lakhs
Free Udyam/ MSME Certificate
Free ISO 9001:2015 Certification

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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 is….

Do you want to start your financing business?
Start your own small bank. With the help of Nidhi Company Registration online, you can provide loans, accept deposits, and open savings accounts.

There is a need for companies which facilitate easy fund availability for businesses. Nidhi Company registration consultants of Fincawork help you create your own Nidhi bank and guide you in understanding 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 1934’s main regulations because it exclusively deals with the money of its owners or members.

Features of Nidhi Company

Features you can’t resist

Documents Required

For Nidhi Company Registration Process

Fincawork – The Best Nidhi Company Registration Consultant in India requires the following documents for 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

FAQs

ONE PERSON COMPANY REGISTRATION PROCESS

1 How many members are required to start a Nidhi Company in India?: A minimum of 7 members are required to start a Nidhi Company out of which 3 members must be the directors of the company.
2 Do we need your Physical presence during Nidhi Company Registration Process ?: 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 Fincawork – The Best Nidhi Company Registration Consultants now & get started with the registration process now.
3 What is Digital Signature Certificate (DSC) ?: 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.
4 What are Articles of Association (AOA) and Memorandum of Association (MOA) ?: 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.
5 Do Nidhi Company required to take any approval from RBI for its lending business?: 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.
6 What is the meaning of the word "Nidhi" in Nidhi Company?: The word “Nidhi” is derived from the Hindi language and is known as “Funds” 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 “Nidhi” is introduced by the Govt. for such companies.
7 How much deposits a Nidhi Company can accept from its members?: Nidhi Company can accept deposits a maximum upto 20 times of its Net Owned Funds (Where, Net Owned Funds = Equity Share Capital + Free Reserves – Accumulated Losses – Intangible Assets).
8 What type of securities can Nidhi company issue to raise funds?: Nidhi Company can only issue Equity shares and is prohibited to issue preference shares, debentures or any other debt instrument.
9 What is the minimum capital requirement a Nidhi Company Registration Online?: 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 – Accumulated Losses – Intangible Assets).
10 How many members do Nidhi Company is required to make before completion of 1 year from commencement of its business?: Nidhi Company is required to make at least 200 members within 1 year from the date of commencement of business.
11 How much unencumbered term deposits a Nidhi Company is required to maintain ?: 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.
12 Can a Nidhi Company advertise to attract more members ?: 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.
13 Which type of businesses are not allowed to carry on by a Nidhi Company?: 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.
14 Can a Nidhi Company open a current account for its members ?: No, a Nidhi Company is not allowed to open a current account for its members.
15 How many branches a Nidhi Company can open ?: 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.
16 Can a Nidhi Company open its branches anywhere in India or Outside India ?: 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.
17 Which type of loan facilities a Nidhi Company can offer to its members ?: 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.
18 Which type of deposit facilities a Nidhi Company can offer to its members ?: A Nidhi Company offers the following deposit facilities to its members : 1. Recurring Deposits (RD) 2. Fixed Deposits (FD) 3. Saving Accounts
19 Do a Nidhi Company has to add the word “Nidhi" in its name ?: Yes, it is mandatory for a Nidhi Company incorporate words “Nidhi Limited” after its name.

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