Nidhi Company registration is basic and less complexed when contrasted with different kinds of finance companies like NBFC which require RBI permit to begin. A Nidhi Company can be started with an underlying capital of Rs.5 lakh and require at least seven individuals, to begin with. Nidhi Company registration also requires three directors at first. It takes around 15 to 20 days to get Nidhi Company enlisted in India. Nidhi company is represented by Nidhi Rules, 2014. They are joined in the idea of Public Limited company and consequently, they need to agree to two arrangement of standards, one of a Public limited company according to Companies Act, 2013 and another is for Nidhi rules, 2014. No RBI approval is important to register the company, as RBI has particularly exempted this classification of NBFC in India to comply its centre arrangements, for example, registration with RBI and so forth. Each Nidhi might, inside a time of one year from the initiation must guarantee that it has at the very least 200 individuals.
Required Documents:- (All copies of documents should be self-attested by the customer)
- PAN Card (mandatory)
- Address proof
- Photo ID Proof
Nidhi Company Registration
- Separate Legal Entity
- Easy Management
- Going Concern
- Uninterrupted Existence
- Better Credibility
Documents that are Required for Nidhi Company
Identity and Address Proof
Identity and address proof will be required for all directors and shareholders of the company to be incorporated. In case of Indian nationals, PAN is mandatory. For foreign nationals, apostilled or notarized copy of passport must be submitted mandatorily. All documents submitted must be valid. Residence proof documents like bank statement or electricity bill must be less than 2 months old.
Registered Office Proof
All companies must have a registered office in India. To prove access to the registered office, a recent copy of the electricity bill or property tax receipt or water bill must be submitted. Along with the utility bill, rental agreement or sale deed and a letter from the landlord with his/her consent to use the office as a registered office of a company must be submitted.
Signed Incorporation Documents
Signed digital signature application documents must be submitted in hard copy. Other incorporation documents signed and uploaded as soft copy.
Nidhi Company Registration Process
Prepare DSC & DIN: The first step is to file for Digital Signatures (DSC) and Director Identification Number (DIN). It takes around one day to get the digital signatures and generally DIN can be filed on the same day.
File Name Approval
The second step is to file the name approval via RUN approval and at-most you can give maximum 2 names for approval, The name must start with a unique word and must end with “Nidhi Limited”.
File for incorporation
The third step is to file the incorporation along with all necessary documents via form INC 32. The form is attached with all the important attachments like MOA, AOA, declarations etc.