Login with your email address
Forgot your password ?
Don't have an account? Sign up
Sign up with your email address
Already have an account? Login
Nidhi Company Registration
Nidhi Company Registration is completed in 20 days
All the Work is Handled by the Top Nidhi Experts of Haxtax.
All You Need to Know About Nidhi Company Registration
Meaning of a Nidhi Company
A Nidhi company is a public limited company that is formed with a sole purpose of accepting deposit and lending money only to its members. It is also an NBFC or Non-Banking Financial Company that has that has been exempted from RBI provisions.
How can you register a Nidhi Company in India?
A Nidhi company cannot be started by an ordinary person. If one starts a Nidhi company, it can be upgraded to an NBFC and even a bank gradually. The major heads for registration are:
Prepare DIN and DSC: You should begin by preparing Director Identification Number (DIN) and Digital Signatures (DSC). You must remember to apply DSC for subscribers as well so that you complete the procedure under the form SPICE. It is also necessary to efile eMOA
Seek Name Approval: After you have applied for DIN and DSC, you should file for name approval under Form INC 1 or you can file with incorporation under Spice Form.
File for Incorporation: Once the name is approved, you can file for incorporation via the Spice Registration forms.
Does RBI need to approve a Nidhi Company?
No, because RBI has expressly exempted the Nidhi Company from the core provisions.
Register your Nidhi Company Now.
Haxtax ensures 20 days Nidhi Company Process to let you start your Business in India..
Call : 7505111555
Nidhi Company Registration Process.
It takes about 20 days to register a Nidhi Limited Company in India. Here’s the complete process:
Day 1-3 will be dedicated for DSC and DIN Filing wherein we will draft and file for DIN and DSC.
Day 3 to 6 will be for Name Approval wherein we will file for Name Approval in INC 1 Form so that you have option for 6 names
Day 6 to 20 will be for Incorporation as once the name is approved, we will file for Incorporation with a SPICE Form
Main Requirements for registering a Nidhi Company
It is mandatory in India that seven people start the Nidhi company. There is no need for an initial capital for a Nidhi company. The company must abide by three compliances:
The net owned fund to deposit should not be more than 1:20.
INR 10 lakh capital should be raised by the end of the first year
200 members should have been added by the company within one year.
Important Information regarding Nidhi Company
It lets you start finance company at cheaper cost.
It can only deal with its members.
It can take a loan from the Director of the company.
It can only lend secured loan, not unsecured.
Encumbered deposit of 10 percent should be deposited as an FD in a commercial schedule bank.
It should file NDH 3 and NDH 1 on time.
Documents You Must Submit.
ID proofs of Directors/ Shareholders.
PAN Card Directors/ Shareholders
Address Proof of Directors/ Shareholders
Passport Size Photographs of Directors/ Shareholders
A signed DSC Form
A Rent Agreement or an Ownership Proof of registered office
Latest electricity bill of registered office
An NOC from the owner of registered office
A scanned copy of the documents is enough. No need for hard copies.
Frequently Asked Questions
Which types of legal documents can you draft?
This package is designed to draft documents for businesses and people. It includes but is not limited to:
Notices, Employment Offer Letter, Agreements, Appointment Letter, Employment Documents, Property Documents, Gift Deeds, Joint Ownership Agreement, Direct Selling Agent Letter, Sale/Purchase Deed, Consultant or Freelancer Engagement Letter, Company Agreements, Co-Founder Agreements, Residential/Commercial Rental Agreements, Invitation Bid, Notice for Payment of Rent, NOC by Property Owner, Share Purchase/Transfer, Notice to Vacate Tenant, Board Resolution, Minutes of Meetings, Secretarial Compliance, Notices of Meetings and Arbitration Contracts.
Personal legal documents needed by people include but are not limited to:
Only legally sound and experienced professionals such as Chartered Accountants, Company Secretaries and legal consultants draft legal documents.
Who will be drafting my legal agreement?
Haxtax has developed a wide network of legal consultants, tax experts, and property experts. We have a team of advocates, legal consultants, chartered accountants and company secretaries who have tons of years of experience in their respective fields which ensures there are no mistakes.
Is it mandatory to ensure all agreements are notarized? Should stamp duty be paid on every legal document?
Only documents like real estate property deed need to be notarized which are to be presented in front of a person with a notary designation. These documents are eligible for being enforced in the court of law only when they are notarized and stamp duty of appropriate value is paid. Some states have a provision for e-stamping too.
In contrast, for some agreements and legal documents, there is no need to acknowledge them before a public unless a state or municipal law makes it mandatory.
As per this package, our legal experts will prepare a draft that will be shared with you. You need to ensure that you share all the specifications and expectations. You should also review the draft carefully. After the process ends, you will get a soft copy of the final draft that you can use as per your needs. Notary and stamp duty charges are not paid in this package.