Nidhi Company Formation

Nidhi Company formation refers to the process of incorporating and registering a type of non-banking financial institution (NBFC) in India known as a “Nidhi Company.” Nidhi Companies are mutual benefit societies that operate primarily for the purpose of cultivating the habit of thrift and savings among their members and lending funds to them for their mutual benefit. You can choose My All Business consultant as top nidhi company formation consultant.

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What Is Nidhi Company Formation?

Nidhi Company formation refers to the process of incorporating and registering a type of non-banking financial institution (NBFC) in India known as a “Nidhi Company.” Nidhi Companies are mutual benefit societies that operate primarily for the purpose of cultivating the habit of thrift and savings among their members and lending funds to them for their mutual benefit. You can choose My All Business Consultant as top nidhi company formation consultant.

Who Needs Nidhi Company Formation?

Small Savers and Borrowers
Low-Income Individuals and Families
Residents of Specific Localities or Communities
Entrepreneurs and Small Businesses
Individuals Seeking Safe Investment Options
Members of Self-Help Groups (SHGs) and Cooperatives
Unbanked and Underbanked Populations
Individuals Seeking Financial Stability and Independence

Types Of Nidhi Company Formation

Nidhi Limited
Nidhi Mutual Benefit Societies (MBS)

Documents Required For Formation

Identity Proof of Directors and Shareholders
Address Proof of Directors and Shareholders
Passport-size Photographs of Directors and Shareholders
Proof of Registered Office Address
Memorandum of Association (MoA)
Articles of Association (AoA)
Declaration of Directors
Director Identification Number (DIN)
Digital Signature Certificate (DSC)
Certificate of Incorporation (COI)
Form INC-9
Form INC-22
Bank Account Opening Documents
Other Documents (if applicable)

Benefits Of Nidhi Company Formation

Promotion of Thrift and Savings
Access to Credit Facilities
Financial Inclusion
Community-Based Financial Services
Non-Banking Financial Services
Safe and Secure Investments
Ease of Membership
Financial Stability and Empowerment
Regulatory Oversight and Compliance
Collective Ownership and Control

Stepwise Process Of Nidhi Company Formation

Ensure Eligibility
Director Identification Number (DIN)
Digital Signature Certificate (DSC)
Name Approval
Drafting of Memorandum and Articles of Association
Incorporation Application
Payment of Fees
Verification and Approval
Opening of Bank Account .
Commencement of Business
Compliance Requirements

Frequently Asked Questions

A Nidhi Company is a type of non-banking financial institution (NBFC) in India that operates primarily for the purpose of cultivating the habit of thrift and savings among its members and providing them with access to credit facilities for their mutual benefit.

The primary objectives of a Nidhi Company include promoting thrift and savings among its members, encouraging financial cooperation and mutual assistance, and providing credit facilities to meet the financial needs of its members.

CAs possess expertise in company law, compliance requirements, and financial matters. They ensure that the formation of a Nidhi Company complies with legal provisions, minimizing the risk of errors or non-compliance.

Nidhi Companies are regulated by the Ministry of Corporate Affairs (MCA) and are subject to the provisions of the Companies Act, 2013, and the Nidhi Rules, 2014. They must comply with statutory requirements related to incorporation, governance, reporting, and disclosure.

Members of Nidhi Companies have access to credit facilities, including loans and advances, at reasonable interest rates and terms. They also benefit from the promotion of thrift and savings, financial cooperation, and mutual assistance within the Nidhi Company.

Unlike traditional banks, Nidhi Companies operate on a mutual benefit basis, serving the financial needs of their members rather than seeking profits. They are subject to fewer regulatory requirements compared to banks and are primarily focused on promoting thrift, savings, and financial cooperation among members.

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Pricing Plans

A BITE PACK

17999/-

DSC for Seven Members
DIN for Three Members
Name approval of the Company
MOA & AOA for the Company
Certificate of Incorporation (COI)
PAN Number for the Company
TAN Number for the Company
FREE ACCOUNTING APP

2 BITE PACK

17999/-

DSC for Seven Members
DIN for Three Members
Name approval of the Company
MOA & AOA for the Company
Certificate of Incorporation (COI)
PAN Number for the Company
TAN Number for the Company
FREE ACCOUNTING APP
MSME REGISTRATION
CURRENT ACCOUNT OPENING

Z BITE PACK

17999/-

DSC for Seven Members
DIN for Three Members
Name approval of the Company
MOA & AOA for the Company
Certificate of Incorporation (COI)
PAN Number for the Company
TAN Number for the Company
FREE ACCOUNTING APP
MSME REGISTRATION
CURRENT ACCOUNT OPENING
Dedicated Account Manager
GST REGISTRATION

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