Nidhi Company Registration in Mumbai
Table of Contents
ToggleA Nidhi Company is a Non Banking Financial Company (NBFC) in India which operates under 2014 Regulatory rules. Under section 406 of the Companies Act, 2013 the registration of Nidhi company takes place and operates. The primary purpose is to encourage savings among its members while facilitating financial assistance through lending. These companies generally operate in Souther parts of India. It’s registration doesn’t require any licensing from RBI and hence have less legal formalities. It is registred as a public company and should have “Nidhi Limited” in the last of it’s name. The Major role of company is to lend and borrow meny among it’s members. It may take upto 2-3 weeks in registration of this kind of company.
Minimum Requirements for Nidhi Company Registration
- A Minimum of 7 members are required
- Atleast 3 members must be directors of the company
- Minimum 10 Lakh rupees required as authorized capital
- Minimum 10 Lakh rupees is required for share capital
Benefits of Nidhi Company Registration
- Low Capital Requirement
- Low Risk
- Less Legal Compliances
- Savings motivation
- Easy & Economial Registration Process
- Limited Liability
Activities prohibited for Nidhi Company in India.
Nidhi Companies can’t do following Activities:
- Chit Fund
- Issue of shares not allowed
- Can't advertise and ack for deposits from Public
- Can't run Lotteries
- Can't offer insurance service
- Lease Finance
- Hire Purchase Finance
Nidhi Registration Process and price
- Digital Signature Certificate Apply
- Name Appliation Apply
- Submission of Memorundum of Association & Article Associate
- Certificate of Incorporation
- Apply for PAN, TAN and Bank Account
Nidhi Registration Costs around 20k in Mumbai which includes digital signature certificate, DIN Allocation, Government fees and professional fees. This charges varies as per number of members and state as given cost is for 7 members.
Documents Required for Registration
- Incorporation Certificate
- Pan Card of Directors
- Photographs of Directors
- Voter ID/ Driving License or Password of Directors
- Bank statement and Electric Bill copy
Online Nidhi Company Registration
- Lowest price
- Fast and Efficient Registration process with no hassle
- No Hidden Cost
- Expert Assistance while Registration