The term ‘Nidhi’ implies to treasure or fund. The primary purpose of this type of organization is to encourage the habit of saving money among the company members. Remember, that only the members of such organizations are eligible to lend and borrow money. It is a part of Indian Non Banking financial Company (NBFC) industry. But unlike other NBFC organizations like the Microfinance, Nidhi registration is extremely simple and there is no requirement of any licensing from the Reserve Bank of India (RBI).
One Click Business Solutions has qualified and strongly motivated man power strength. We always keep ourselves updated to all technical updates, development and changes while dealing with any field. Our professionals offer the best services in cost-effective nidhi company registration fees. If you want to start your nidhi company in low cost, contact us as soon as possible.
Now you can find here one of the best CA Consultant company registration firm 100% safe online process of Nidhi company registration at lowest price in all over West Bengal and also find the free consultant services of it. We are aware of nidhi company registration online procedure to make the registration process in fastest way.
Managing Nidhi Company is also easy. It works as a group of people where the company takes money from one member and gave it to another member. This way the company circulates the money among all the other members of the company.
6 Best part of Nidhi Company
1. Easy Registration Process
Company registration is the most important part of starting a legitimate business. Nidhi Company also needs to be registered. And here you will find the first benefit of such an organization. It is relatively easy to register a Nidhi Company in India. To register it, people need to do the following:-
- Just, three (3) directors and seven (7) shareholders/members are needed.
- Easier documentation is required.
- Takes 5-10 days in registering the company.
2. Low Capital Requirements
Also, the Nidhi Company registration process requires less capital. Although Nidhi is a financial organization, still it has low capital requirements. People need:-
Only ₹ 5 lakh Indian Rupees are needed as capital to apply for the incorporation process.
3. Low Cost of Registration
The cost of Nidhi Company Registration is just ₹14,999/- in all over India.
4. Fewer Rules and Regulations to Follow
Although Nidhi Company falls under the NBFC category in India, still it can enjoy many unique relaxations in comparison with other NBFC firms. It requires no mandatory licensing from the Reserve Bank of India (RBI). It is also exempted to follow other provisions that are exclusively followed by other financial companies.
5. No Interference from the Outsiders
Nidhi Company is formed and managed by the members only. The benefits of the company will go to the members/shareholders also. Here, only the company members can deposit and apply for loans. This is why it is also popularly known as the “Mutual Benefit Company.”
6. Highly Corporate Identity
The identity of the Nidhi Company is established as a Public Limited Company. It has separate legal existence and cannot be related to the company members and directors.
These are the 5 best parts or you can say advantages of Nidhi Company. At the same time, we can show you some worst parts or Disadvantages of this type of organization.
What are the requirements of Nidhi Company Registration?
As I earlier mentioned that it’s extremely simple to Incorporation Process Nidhi Company in West Bengal, check the requirements here.
- Minimum Paid up capital is only ₹5 lakh,
- Nidhi is a natural Public Limited Company. Hence minimum 7 numbers of members and 3 numbers of directors are mandatory.
- The Company name must be concluded with the word “Nidhi Limited.”
Nidhi Company is a part of the Indian NBFC or Non-Banking Financial Company Sector. It is formed with the assistance of its members and shareholders. The exact meaning of Nidhi is ‘Treasure, Money or Fortune. Such a Company is fused with the object of building up the propensity for frugality and saves the assets among its shareholders. The deposits and credits directly come from and to its members, for their shared advantage.
Many individuals have started Nidhi Company to provide financial services to others and share the benefits for funding. In India, it must be registered to start its works. Today, we will discuss the 5 best and worst things about Nidhi Company.
Procedure of Nidhi Company Registration Services
When people contact us to facilitate with their Nidhi Company registration in West Bengal, we provide these below mentioned to them in completing the whole procedures.
- Nidhi Company registration cost is 14,900/- only for the areas like Midnapore, Murshidabad, 24 PGS and Nadia in West Bengal.
Get DSC and DIN
To process the Nidhi Company registration in West Bengal, you need Digital Signature Certificate (DSC) and Directors Identification Number (DIN) for your members and directors, respectively. We will arrange all these valuable documents for your company.
Application for Company Name
Nidhi Company registration experts in our Company are here to help you getting an appropriate name for your firm. We will apply to the Registrar of Companies (ROC) on behalf of you in approving the best selected name for the company.
Assisting in Company MOA and AOA making
We will assist you to make draft MOA (Memorandum of Association) and Articles of Association (AOA) for your company. After the finalization, we will submit the same to the registration authority along with other documents.
Managing the Documents
You also need to submit relevant documents like identity and address proof, company address proof and many more. We will arrange all those documents with your help and complete the whole Nidhi Company registration process.
Once your Nidhi Company is registered and you have got the Certificate of Incorporation, you need to make PAN and TAN in your company name. With our assistance you will get these things done.
Advantages of Nidhi Company Registration
No RBI Regulations –
Nidhi Company is outside the glance of Reserve Bank of India. It does not need RBI’s license for managing a loan business in India.
Restricted Paid up Capital Requirement –
The Ministry of Corporate Affairs has done away with the minimum Paid up capital need of Rs. 5 Lakhs for Nidhis.
Ease of formation –
They just have to incorporate themselves as a public company with the MCA, infuse the required amount of capital as per Nidhi Rules, 2014 and they are all set to go
Help in channelizing small savings –
The small savings of the members contribute to the funds of and avail credit from Nidhi companies.
The lower rate of credit –
The loans given to the members are at a lower rate of interest than the market rate.
No outsider intervention –
The outsider is not allowed to intervene in the working of the Nidhis. Read more