Register Nidhi Company (Mutual Benefit) India

Rs. 23271/- (inclusive of all taxes & fees)

Important Points

- Nidhi Company Registration in 20 days

- After Company Formation Compliance Support by experts

- Work Handled by Top Nidhi Experts

Nidhi Company Registration

Know what is Nidhi Company and how it is registered.

What is a Nidhi Company?

A Nidhi Company is a public limited company which is formed with a sole purpose of accepting deposit and lending money only to its members. It is also an Non Banking Financial Company (NBFC) which has been exempted from the provisions of RBI.

How to register Nidhi Company in India?

Registering a Nidhi Company is a big thing because it something which no ordinary person can start. Starting with Nidhi can gradually upgrades you to NBFC and later on to Bank. Three broad heads for registration are as follows:

• Prepare DSC and DIN: The first step is to prepare Digital Signatures (DSC) and Director Identification Number (DIN). Further, make sure to apply DSC for subscribers as well to complete the procedure under the form SPIC and to e-file eMOA.
• File for Name Approval: After applying for DSC and DIN, the next step is to file for Name Approval. One can file for Name approval under Form INC 1 or one can file with incorporation under Spice Form.
• File for Incorporation: Once your name is approved, you can file for incorporation through Spice Registration forms.

Documents required for Nidhi Company Registration

For Directors/Shareholders:-

• Copy of PAN Card
• Aadhar Card
• Address Proof (Bank Statement, Mobile bill, Telephone bill)
• Passport Size Photo

For Registered Office:-

• Ownership Proof (Electricity bill etc)
• Utility Bill (Gas bill, Electricity bill)
• NOC (Download format)

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Time & Cost for Nidhi Company Registration

The Total Cost Breakup

Items	Qty	Price
.Digital Signature Certificate (DSC)	7	3,400
.Director Identification Number (DIN)	3	1,600
.Name Approval	1	1,300
.MOA, AOA and Incorporation Fee	-	Nil
.Stamp Duty of the Respective State*	-	1,800/-
.PAN and Tan Application	-	200/-
.INC 22	-	200/-
.CA Certification	-	600/-
.Professional Fee (Inclusive of Taxes)	-	12,171/-
. Goods and Service Tax (GST)	-	2,000

Total Nidhi Company Registration Cost in India.  23271/-

Note: Stamp duty Extra for States: Punjab, Kerala and Madhya Pradesh.

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Loan against immovable Property:

• This type of loan is not very popular with Nidhi Company. This loan is also subject to certain conditions:

The maximum loan can be rs. 200,000 if deposits does not exceed Rs.2 Crore.

The repayment period of loan shall not exceed 60 months.

The maximum finance can be up to 50%.

Further, this type of loan cannot exceed 50% of the total loan amount.

Loan against FDR and Deposits:

• Nidhi can advance loan against FDR and also even against the deposits kept by it. Further, this type of loan is also subject to certain restrictions:

The repayment period under this loan shall not exceed the period of Fixed Deposit.

The maximum finance under this case shall be up to the value of Fixed Deposit under Nidhi Company.

• Loan Against NSC / Bonds:

  This type of loan are very rare but Nidhi company can advance loan against these securities as well.

• Unsecured loan by Nidhi Company:

  This type of loan is completely prohibited by Nidhi Company.

• Vehicle (Car Loan) Finance:

  This type of loan is also not allowed under Nidhi Company. Vehicle finance restricted to Non-Banking Financial Companies (NBFC) in India.