Incorporate your Nidhi Company at price starts From Rs 24,999/-
“Nidhi” means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit, and which complies with such rules as are prescribed by the Central Government for regulation of such class of companies.
According to Rule 4 of Nidhi Rules, 2014, a Nidhi Company shall be a public company and must have a minimum paid up equity share capital of five lakh rupees. The Nidhi Company shall have only one object in its memorandum that is of cultivating the habit of thrift and savings amongst its members, receiving deposits from, and lending to, its members only, for their mutual benefit. Every Company incorporated as a “Nidhi” shall have the last words ‘Nidhi Limited’ as part of its name.
Rule 5 provides that, every Nidhi shall, within a period of one year from the commencement of these rules, ensure that it has:
(a) Not less than two hundred members.
(b) Net Owned Funds of ten lakh rupees or more.
(c) Unencumbered Term Deposits of not less than ten per cent of the outstanding deposits. (d) Ratio of Net Owned Funds to deposits of not more than 1:20.
The process of incorporation of a Nidhi company is same as of incorporation of a public company limited by shares.
Advantage of Nidhi Company:-
In this write- up will discuss the benefit of starting a Nidhi company in India –
1. Very Easy formation
Requires only 7 persons where 3 will be appointed as Director
Few documentation to do
Simple Registration process
Hardly take 10 to 15 days to get registered*
Nidhi company registration is very simple and the level of complexity as compared to other types of finance companies like NBFC is minimal in Nidhi Company.
2. Cost efficient registration
Registering Nidhi Company comes with pocket-friendly cost. The minimum capital requirement for registration of Nidhi Company is Rs 5, 00, 000 lakh where you have the opportunity to invest the capital within the 2 months after the registration also by paying the Registering fees of Rs 19,999/- only.
3. No RBI Regulations – less compliance.
Nidhi Company by its nature of activity comes under the category of NBFC but does not require RBI approval. These companies follow Nidhi Rules, 2014 issued in respect of the activity and working of the company. RBI has exempted Nidhi Company from following stringent compliances so you don’t need to be in rush-n- hush as RBI will not bother if you starting a Nidhi Company in India.
4. More Certainty in Nidhi Company.
Choose the perfect plan
According to Your Business prospective you can avail any of the below mentioned Plan with a very marginal price.