Nidhi Company Registration in Jaipur
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Introduction of Nidhi Company
Nidhi Company means a Company that participates in receiving deposits and loans to its Members for correlative benefits. It is incorporated as a Public Limited Company and differs from the National Banking Finance Company governed by the RBI and other Companies under the Companies Act, 2013. The purpose of Nidi Company is to promote the practice of savings and frugality among its members.
It is not directly regulated by the RBI but is required to follow other guidelines issued by the RBI from time to time to accept the deposit. It is an appropriate type of business for a particular group of people intended to invest or borrow money.
Advantages of Nidhi Company Registration
Micro Finance
Nidhi Company borrows money from remote and rural areas of the country and located off-site.
Limited Liability
Members' liability is limited by the amount they have invested in the Company and therefore, they are not liable in person and are a legal entity which means that they are different from their Members and directors.
Fewer complexities
Nidhi Company includes less complexion and requires an amount of Rupees 5 Lakhs for incorporation which could be increased to 10 lakhs per year and loans from Nidhi Company can be obtained at cheaper rates than NBFC.
A good saving option
As the main purpose of establishing Nidhi Company is to develop a saving practice among the people as they can only borrow and lend money from their members only.
A better Credit Co-operative community
Nidhi Company has some similarities with a co-operative organization and is suitable for small investors. Once registered it can enjoy benefits from the credit co-operative Society.
Easy Access to Public Finance
Nidhi Company can take deposits from its members through various accounts such as Saving Account, FD A / c, Rd A / c which is much more easier than taking money from banks and other financial institutions.
Minimum requirements for Registration
Require a minimum of three directors and a maximum of fifteen
Require a digital signature of subscriber and director
Require minimum of seven members
5 lakhs as minimum capital
Preference shares cannot be issued
Minimum one director to be an Indian resident
Documents Required for Incorporation
Pan card as proof of identity of partners
Proof of the identity
of all members and directors of the proposed entity; (Driving License/Voter ID/Passport/Aadhar)
Address Proof
(Mobile Bill/Telephone Bill/Service Bill /Bank statement not exceeding two months)
Latest passport size photograph of directors and members
Proof of Business Address Location of owned property
(Copy of Registry and Recent Electricity or Water Bill)
Proof of Business Address Leased/rented
Lease Agreement, NOC from Owner, Recent Government Electricity Bill or Water Bill)
Note: - In the event of an NRI or Foreign nationals documents of Directors and Subscribers shall be in writing or sent by an apostle.
Process of Nidhi Company Registration
Complete the Application Form
You are requested to first complete the simple questionnaire provided by our expert team.
Processing Documents
In the second step, we will need the documents as per the questionnaire completed by you so that we can organize them as required and for processing.
DSC application
First of all the DSC (Digital Signature Certificate that includes E-signatures) needs to be prepared. This step can be ignored if it is already prepared. It will take about 1-2 days.
Availability of Name
The next step is to check the availability of the name. The name must be different and should not be the same as the name of any other registered organization. It may take at least 1-2 days.
Company incorporation e-filing
Once the name is approved, an online application is required to be submitted via SPICE+ along with the required documentation as received from the ROC client. MOA and AOA will be filed online. This process also takes about 2-3 days.
Obtain an Incorporation Certificate
Once the Company is registered we will share all documents such as Certificate of Incorporation, MOA, AOA and Digital Signature.
Our process through Online Registration
We at Paravue Advisors guarantee a high level of satisfaction and timely delivery of your firm registration with better response to government needs through our professionals. You can contact our team on 099504-51000 or send an email to infoparavueadvisors@gmail.com for Nidhi Company Registration.
Establish your entity in just 3 simple stages-
- Opt for the suitable package for your needs
- Fill in the questionnaire that takes less than 12 minutes
- Provide the basic details and documents required to register
- Make payments with secure payment gates
- A Relationship Manager assigned
- DSC procurement
- Application for registration of company name
- Drafting AOA and MOA
- Incorporation Certificate
- PAN and TAN allotment
- Require 4 working days
*Affected by Government processing term
Why you should choose Paravue Advisors for your assistance?
Expertise guidance
We will help you from picking up a suitable registration to getting your registration certificate. Our experts give you expert guidance on many of the processes involved in registering your business as a Nidhi Company, as well as service tax registration, sales tax, import/export code, and professional tax.
Filing Application
The professionals to assist you in the application are well-executed and can manage native registrations.
Registration Receipt
Our team will provide full assistance with the registration process. This can vary between 5 and 15 days, depending on the work done by the authorities involved.
FAQs on Nidhi Company Registration
- As they relate to the nature of the Public Company so the rules and regulations of the Companies Act, 2013 apply.
- The RBI provisions relating to the interest rate payable apply to Nidhi companies. RBI rules do not apply to Nidhi Companies as the RBI has absolved Nidhi Companies the same.
- Nidhi Rules, 2014.
- It must have a minimum of 200 members/shareholders.
- Minimum Net Owned Fund should be Rs. 10 Lakhs.
- Unsecured term deposit must be at least 10% of the time deposit.
- Net Owned Fund rate and fixed-term deposit should not be less than 1:20.
- It is a single office entity governed by its members exclusively without the involvement of third parties.
- Provide loans with low-interest rates and few documents.
- Secure investments are guaranteed by such companies.