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Online Nidhi Company Registration at just Rs. 24,999/-

Register Nidhi Company in India within 14 days with at just ₹ 24999/- (Exclusive Govt. Fees). Get free Business Website, CRM & GST Registration for your business. Choose us for all your hassle-free startup legalities.

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Nidhi Companies belong to the Non-banking financial companies structure. Registering a Nidhi Company allows a Nidhi to borrow from its members and lend to the members.

Nidhi Companies are registered in India are created to cultivate the habit of thrift and savings among its members. The funds that are contributed to a Nidhi Company are only from its members.

For Incorporating a Nidhi Company, no license is required from the Reserve Bank of India. Hence, the formation of the Nidhi Company is easy. Nidhi Companies are registered as Public Companies and should have Nidhi Limited at the last of the name.

It should also be noted that the Nidhi Companies fall under the purview of the Reserve Bank of India as the functioning of Nidhi Companies is similar to NBFCs.

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Benefits of Nidhi Company

Here are the major reasons why Nidhi company is preferred:

  • Cheaper To Borrow
  • As a member, one can borrow money at a minimum rate, relative to the rate at which banks lend money. This can be a major advantage in times of need, as different individuals in the mutual benefit society are likely to need funds at different points in time.

  • Encourages Savings
  • It encourages all its members to save money and encourages a thrifty lifestyle. A Nidhi Company, after all, is a mutual benefit society wherein members can lend or borrow money and accept financial aid amongst them.

  • Fewer Complications
  • Borrowing and lending to known persons, where the procedure is fixed, is much less complicated than dealing with banks or in an informal setting. A Nidhi Company enables its members to unlock the potential of their money and gain from lower interest rates when they require money themselves.

Checklist for Nidhi Company Registration

  • At least seven members (shareholders) are mandatory to form a Nidhi company. Out of these, three should be designated as the directors. However, it should acquire a minimum of 200 members within one year of commencement.
  • Moreover, the company should have a minimum equity share capital of Rs 5 lakhs, for registering as a Nidhi Company. This entire amount has to be paid up. However, the Net Owned Funds (NOF) must be increased to Rs 10 lakhs within a year of registration.
  • At least 10% of its outstanding deposits should comprise of un-encumbered term deposits.
  • The prescribed NOF to deposits ratio should be 1:20. where 10% of the total deposits are in a fixed deposit account of a nationalized bank.

What are the things Nidhi Companies cannot do as an NBFC (Non-Banking Financial Company)?

  • Chit fund business
  • Hire purchase finance
  • Acquisition/insurance of securities issued by any corporate
  • Engaging as an NBFC in the business of advances or loans
  • Leasing finance
  • Acquisition of stocks/shares /bonds/securities/debentures issued by any local authority /Govt./marketable securities

Documents Required For Nidhi Company Registration

Listed below are the documents required for Nidhi company registration process.

  • Self-attested copy of PAN Card
  • Self-attested copy of Driver's License/ Voter ID/ Aadhaar Card/Passport
  • Self-attested copy of Bank Statement/ Telephone Bill/Mobile Bill/ Electricity Bill
  • Passport-size photograph
  • Specimen Signature Certificate

How to Register Nidhi company in India

To incorporate a Nidhi Company in India, at least seven members are mandatory, out of which three should be the designated directors. However, the Nidhi Company should acquire at least 200 members within one year of commencement.

For registering a Nidhi Company, it is necessary to have a minimum equity share capital of Rs. 5 lakh. But it is to be noted that the Net Owned Funds (NOF) must be increased to Rs 10 lakhs within one year of registration. While Registering as a Nidhi Company in India, it is necessary to first incorporate into a Limited Company under the Companies Act, 2013.

While Nidhi Company Registration, it necessary to ensure that the objective mentioned in the Memorandum of Association is to cultivate the habit of thrift and savings among the members, receiving and lending to its members only for its mutual benefit.

Post incorporation as a Limited Company, the Nidhi Company should meet the following capacities:

  • Not have less than two hundred shareholders (members)
  • Have Net owned funds of 10 lakh rupees or more
  • Have encumbered deposits of not less than ten percent of the outstanding deposits
  • Have a ratio of Net owned funds to deposit of not more than 1:20

Following are the steps involved in incorporation of Nidhi Company:

  • Step 1: The first step begins with acquiring the Digital Signature Certificate of the applicants. After the DSC is obtained, the applicant should apply for the Director Identification Number.
  • Step 2: Next, the applicant has to make an application to MCA for name approval. The names provided should be unique and should not go against any provisions relating to intellectual property rights.
  • Step 3: Once the application is made, the applicant must file prescribed documents to the ROC. The documents must be filed through INC form 32, and along with this, MOA and AOA should be submitted. The applicant has to intimate the main objective of forming the entity while submitting the documents
  • Step 4: An incorporation certificate will be provided after reviewing the Incorporation Certificate. This certificate is issued by the registrar within 15 Days.
  • Step 5: The next step is when the Nidhi Company is required to apply for PAN and TAN.
  • Step 6: This is the final step while Incorporating a Nidhi Company. At this stage, it is necessary to open a Bank account on behalf of the business for any transaction.

What you get after Nidhi company incorporation

Our Nidhi company registration package includes:

  • DIN for 3 directors
  • Digital Signature for 3 directors & 7 shareholders
  • Company Name Approval
  • MOA + AOA
  • Incorporation Certificate
  • Company PAN Card
  • Company TAN
  • Bank account opening assistance
  • Free website for business
  • Free CRM for business
  • Free legal and business consultant with professionals
  • Flat 10% off on professional fee forever

Why for Nidhi Company Registration

  • For your Nidhi company formation, we will incorporate your company and get it business-ready
  • Our experts are up to date with the laws and have helped businesses like you register their company
  • You can register your Nidhi Company through our simple online form and track job progress through our easy-to-use dashboard
  • We will allocate a dedicated manager who will keep you informed about the status of your Nidhi company Registration. Our support team is available to answer any questions you may have

FAQs on Nidhi Company Formation

A minimum of 3 directors and 7 shareholders are required to register a Nidhi company in India.

The Director needs to be over 18 years of age and must be a natural person.

An address in India where the registered office of the Company will be situated is required. The premises can be commercial/industrial/residential where communication from the MCA will be received.

No, provides complete online Incorporation process. All legal documentation and visits are done by us.

Any person can deposit, lend or borrow money through the provisions provided by the Companies Act, 2013. Hence, they can all become members of a Nidhi Company, provided they are not a corporation or a company.

No, members are only allowed to deposit, borrow, or lend funds.

A Nidhi Company can accept deposits not exceeding 20 times of its net owned assets, as per the last audited statements.

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