+91 416 2241199
#23,8th East Main Road,Gandhinagar, Katpadi, Vellore
infowealthbridge@gmail.com

Nidhi Company Registration

Starting a finance business or want to legalize your existing finance business, then you are at the right door as Nidhi Company is the only available option to start a finance business legally that too without the Reserve Bank approval.

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Nidhi Company Registration

Nidhi Company is one of the category of Non Banking Financial Company (NBFC) which does not require any Reserve Bank of India (RBI) license. Nidhi Company works through its members. It can accept deposits and lends loans to its members only.
The companies doing Nidhi business borrowing from members and lending to members only, are known under different names such as

  • Nidhi
  • Permanent Funds
  • Benefit Funds
  • Mutual Benefit Funds
  • Mutual Benefit Company

Nidhis are more popular in South India and are highly localized single office institutions.

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Advantages

Easy of Formation

Unlike other NBFCs, Nidhis don’t have to obtain a license from RBI. They just have to incorporate themselves as a public company with the MCA with the required capital as per Nidhi Rules 2014.

Lower Rate of Credit

The loans given to the members are at a lower rate of interest than the market rate. This brings greater savings to the members.

Business Continuity

A Nidhi company has ‘perpetual succession’, that is uninterrupted existence until it is legally dissolved. A Nidhi company is unaffected by the death or other departure of any member.

Separate Legal entity

A Nidhi Company is a legal entity and a juristic person established under the Act. Therefore, a Nidhi company has wide legal capacity and can own property and also incur debts.

Channelizing small savings

he main aim of such companies is to promote the habit of saving and thrifts among lower and middle section of the society.

Limited Liability

Personal assets of the shareholders will not be at risk, in the event of the company facing financial distress. Liability of the shareholder is limited to the unpaid amount on his shareholding.

Pre-requisites for Incorporation of Producer Company

Benefit of Members

The objective of such a firm would be to imbibe in the members a habit of thrift and saving and the services would only be restricted to its members.

Minimum Required Capital

A minimum capital of Rs. 5,00,000 is required to incorporate a Nidhi Company.

Company Formation

A Nidhi company has to be a public company

Producer Company Registration

We Serve Everywhere

Thewealthbridge.in is web portal of the Virutchamwealth Bridge Private Limited is one stop business setup and consulting company, managed by specialized team of Business Analysts,Company Secretaries, Chartered Accountants, Corporate Lawyers and Financial Professionals company headquartered in Vellore,Tamilnadu, India. Having known for our quality of services, delivering the projects on time, we have clients spread across the globe

Step 1. Income tax

We will provide income tax return preparation, Revised return, Responding to Department notices and solving other Income Tax related issues.

Step 2. Business Licenses

Our Professionals Will help you in getting your business licenses and Business licenses necessary for smooth running of businesses

Step 3. Financial Services

we will Provide Funds for both personal and Business. Our funding system gives a credit line facility, enabling you to expand your business to new heights

Step 4. GST Returns

We will make your business to GST Compliance. Returns are required to be filed digitally online through a common portal to be provided by GSTN

What are the Documents required for Formation of Nidhi Company?

  • PAN card and Residence Proof of directors of the company
  • Copy of Rental Agreement / EB Card Copy of Registerd Office
  • Copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
  • Passport Size Photograph
  • Specimen signature (blank document with signature [directors only])
  • copy of Passport (In case of Foreign Director)

What Includes in this package?

  • Verification of Documents
  • DSC and DIN for 3 Directors
  • Name approval and ROC fees
  • Drafting MOA & AOA
  • Following until Certificate is allotted
  • Applying PAN & TAN
Nidhi Company Registration

Process

Applying DIN&DSC

DSC and DIN for all directors are required.Affidavit and declaration by first subscribers and Directors should be prepared

Name Approval

4-6 proposed names should be provided that should be unique and suggestive of company business.

MOA,AOA&AFFIDAVIT

Memorandum and Articles of Assocication should be drafted. Affidavit and declaration by first subscribers and Directors should be prepared

Company Registered

Once your Company is Incorporated. Incorporation Certificate will be issued

Nidhi Company Registration Online In Bangalore
Nidhi Company Registration

FAQ

Nidhi Company is one of the category of Non Banking Financial Company (NBFC) which does not require any Reserve Bank of India (RBI) license.
ID proof and residence proof of all the proposed directors, PAN card is mandatory for Indian nationals. No objection certificate from the owner of registered office or lease agreement must be produced.
Digital signature is process to authenticate and validate records electronically. DSC is required for every director of the company as the Ministry of Corporate Affairs (MCA) mandates digital signature of directors on some documents.
Authorized capital of a Company is the amount of shares a company can issue to its shareholders. Companies have to pay authorized capital fee to the government so as to be able to issue shares. Companies have to pay authorized capital fee for a minimum of Rs.1 lakh.
A Chit fund is a kind of savings scheme practiced in India. A chit fund company is a company that manages, conducts, or supervises such a chit fund, as defined in Section of the Chit Funds Act, 1982. … In Kerala, chitty (chit fund) is a common phenomenon practiced by all sections of the society.
The dividends earned in a chit are not taxable. If you want to claim the bid as loss then these dividends has to be shown as revenue income in the assessment. Hence the entire dividend earned in a chit is not taxable if you don’t claim the bid amount as loss.
Company’s proposed name should be unique i.e., it should not be identical to any existing name. Names that infringe others’ rights, trademarks or patents are likely to be rejected by ROC
DIN is a unique identification number which is allotted to all the directors existing or proposed. DIN can be obtained by filing e-form DIN1 in MCA portal.
Chit funds in India are governed by the Chit Funds Act, 1982. Under this Act, thechit fund businesses can be registered and regulated only by the respective State Governments. Regulator of chit funds is the Registrar of Chits appointed by respective state governments under Section 61 of Chit Funds Act.
A private limited company must have a minimum of 2 directors while the maximum no. of directors can be upto 15.
Nidhi Company Registration Online In Bangalore

About Wealth Bridge

We Help You To Form Your Company In A Simple Way Wealth Bridge Will Making More Possibilities which aims at providing much-needed funds to businesses across the trading and service industry

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Head Office

2nd Floor, #23, 8th East Main Road
Gandhinagar, Katpadi, Vellore

(+91) 416 2241199
(+91) 86677 53901

infowealthbridge@gmail.com
www.thewealthbridge.com

Branches

ARAKKONAM OFFICE

# 10/1, Thiruthani High Road ,

Upstairs to Central Bank ,Jothi Nagar,

Arakkonam , TamilNadu - 631003

Phone:+91 6381184522 , +91 8012747723.

RANIPET OFFICE

No 126, MBT Road, Mahaveer Complex,

First Floor, Muthukadai,

(NearDarling bakery) Ranipet - 632401

Phone : +91 417 2295006 +91 86675 42148