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Nidhi company Registration
Nidhi Companies are a type of NBFC that is founded, governed, and regulated by Section 406 of the revised Indian Companies Act of 2013, as well as the Companies (Nidhi Companies) Rules of 2014. The goal of forming a Nidhi Company is to encourage savings and frugality among its members and it tries to achieve this goal by instilling in its members the habit of saving and thrift.
Capital Requirement : As per Nidhi Rules, 2014, the minimum capital requirement for Nidhi Company Registration in India is Rs. 10 lakhs only.
Ease in Raising Funds : Being a highly compliant structure, banks prefer to issue loans easily to Companies. Private Limited Company offers key benefits like the ease in limited liability protection for owners & ownership transfer.
Borrowings : A member can borrow money at a lower interest rate than a bank and with fewer responsibilities.
Uninterrupted Operations : The normal operations of a Nidhi Company Registration are not uninterrupted even at the death, insanity, insolvency, or retirement of any member.
Document Required
- Proof of the registered place of business (Ownership documents/ rent or lease agreement)
- No Objection Certificate (signed by the owner/ landlord)
- Identity proofs
- Address proofs of the members
- Photos of the members
- PAN card copies of the members
- Digital Signature (DSC)
- Director Identification Number (DIN) of the directors
- Memorandum of Association of the company (MoA)
- Articles of Association of the company (AoA)
