Nidhi Company Registration

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Nidhi companies are non-banking finance companies that are registered under the Companies Act, 2013. They lend and borrow money only within its members. There is no intermediary in this case and the rate of interest charged is lower than that of other NBFCs, Bank.


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Nidhi Company Registration

Nidhi Company is a financial company that requires a license to work. However, the license is given by a registered firm and not by the Reserve Bank of India (RBI). The registration process is lengthy but very cheap under the company act . It is a mutual fund company which provides benefits to its members who are registered and working with the company. The word “Nidhi” means “treasure.” Nidhi companies do business like borrowing money from members and lending money to members. As they work in different fields, so they are named accordingly: Permanent Fund, Benefit Funds, Mutual Benefit Funds, and Mutual Benefit Companies. Nidhis are famous for their popularity in South India but have become localized as single offices or commercial places.

As the name suggests, a Nidhi Company is a Public Limited Company incorporated under the provisions of Companies Act, 2013 and whose main business is to cultivate the habit of savings for mutual benefits by accepting deposits from its members and lend those deposits to other members only.

Reason to Choose Nidhi Company because:

  • No Need of involve in Management.
  • Helpful NBFC company for lower and middle class.
  • Rate of interest is cheap as compare to other financial intuition such as Bank, NBFC.
  • Secured way of investment with good return.
  • Registration process is easy and less costly.
  • Easy To Manage and transfer Of Ownership
  • No Minimum share Capital Requirement and tax benefit under income tax act
  • Status of public limited company under Indian company’s act.

Basic Requirements for incorporation of Nidhi Limited Company

  • Three people as director and director must be individual person.
  • Since Nidhi Limited Company have status of public company need seven people as member.
  • One passport size colour photo of all members and director of nidhi company.
  • Valid Email id and phone no linked with member and director.
  • Self-attested dated and signed copy of PAN card of all director and shareholders.
  • Self-attested dated and signed copy of id proof issued by government such as Photo Id ID, Passport, ,Aadhar Card, Driving License.
  • Any One of Telephone Bill, Electricity Bill, Property, Tax Receipt, Gas Bill, water bill as business address proof.
  • If business is on rented premises rent agreement if it is owned then sale deed.
  • Business Company Name.
  • Proposed business object of Nidhi company limited

Process of getting license of Nidhi Limited.

Step 1 Preparation of document for issue of digital signature of all seven members and filing the application for the same.

Step 2 Preparation of document such as Main Object, consent letter to act as director, INC-9.

Step 3 Drafting and vetting of Memorandum and Article of association for approval.

Step 4 Filing name reservation application with ROC in e-form Spice+ part A

Step 5 Filing of incorporation for with attachment of self-attested document such as PAN, ID and Address proof of company.

Step 6 Issue of license by ROC for Nidhi Company limited

Step 7 Filing application for tax number such as PAN and TAN for the income tax and TDS purpose.

Step 8. Filing application with ROC for status of Nidhi Limited after fulfilment of criteria of net-worth and 200 members.


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