Nidhi Company Registration
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A Nidhi Company is a company, which is a non- banking financial sector and it comes under the Companies Act, 2013. This company is formed with a motto to lend and borrow money within its members and it is very easy to form as a company. It requires at least 200 members in a year to get its Nidhi Company status. Their mode of operation is through its members only. It is the easy form of business. Nidhi Companies are regulated by the Ministry of Corporate Affairs (MCA). They are also known as Benefit Fund, Permanent Fund etc.
Documents for Nidhi Company Registration
Passport size photograph of directors
Self-Attested Copy of Pan Card of Directors
Electricity/Water Bill (Proposed register office)
Copy of Property Papers (If owned Property)
Self-Attested copy of Voter Id card /Aadhaar card
Email Id & Mobile No of all Designated Partners
Copy of rent Agreement (If rented Property)
Landlord NOC (Format will be provided)
Advantages of Becoming Nidhi Company
LESS REGULATIONS
Nidhi companies are governed under Nidhi Rules, 2014. The Central Government is the regulating authority controlling its activating and operating. Guidelines imposed by the RBI on Nidhi’s are very few.
LOW CAPITAL REQUIREMENT
Ministry of Corporate Affairs (MCA) commands that the minimum capital requirement of Rs. 5 lakhs for Nidhi. Within the next fiscal year, the company’s capital has to be raised than the initial capital.
MICRO BANKING
Nidhi’s provide banking services to the remote and rural publics of India which still is based in far-off locations and is, hence, devoid of accessing finance from national banks and NBFCs.
EASE OF FUND
Nidhi Company is the safest and the cheapest way of inviting deposits from the general public. You just need to take them as registered members.
BETTER CREDIBILITY
Nidhi companies enjoy better credibility as opposed to any other members based organization like Trusts, Cooperative Societies or NGOs.
NO EXTERNAL INVOLVMENT
Nidhi Companies take funds from their members and further provides loans to their members only. All transactions are don within this group only.
BETTER CREDIT CO-OPERATIVE SOCIETY
Onec a Nidhi company has been registered, the members can avail of all the benefits os credit co-operative society.
LIABILTY IS LIMITED
Liability of Directors and shareholders of the Nidhi Company is limited.