Nidhi Company
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Incorporate an NBFC as per RBI rules. Get it right, the first time. Effortlessly with Vakilify.
Benefits of NBFC
• Financial advantages with tailored financial services.
• Cost-effective borrowing: Access funds at minimal rates, offering significant benefits during financial needs.
• Promotes savings culture: Encourages members to save and adopt prudent financial habits.
• Simplified transactions: Borrowing and lending among known individuals reduces complexities compared to dealing with banks or informal setups.
Procedure
• Apply for DIN and DSC.
• Obtain name approval.
• Draft MoA & AoA.
• Acquire Certificate of Incorporation (CIN).
• Obtain PAN, TAN, and open a bank account.
Documents Required
• Self-attested copies of PAN Card and identification documents.
• Proof of address.
• Passport-size photograph.
• Specimen Signature Certificate.
How Vakilify can help?
• Expert guidance and project consultation.
• Tailored business plan formulation.
• Procurement of necessary registrations and licenses.
• Professional advisory services for a legally robust finance company.
FAQs
What is a Nidhi Company?
A Nidhi Company is a type of Non-Banking Financial Company (NBFC) recognized under the Companies Act, 2013. It primarily deals with lending and borrowing activities among its members, promoting savings and thriftiness.
How is a Nidhi Company different from other NBFCs?
Unlike traditional NBFCs, Nidhi Companies operate on the principle of mutual benefit, where members lend and borrow funds among themselves. They are primarily formed to cultivate the habit of savings and provide financial assistance to their members.
What are the benefits of registering a Nidhi Company?
Registering a Nidhi Company offers various benefits, including:
• Easy access to funds at minimal interest rates for members.
• Encouragement of savings culture among members.
• Simplified borrowing and lending procedures compared to traditional financial institutions.
What is the procedure for registering a Nidhi Company?
• Applying for DIN (Director Identification Number) and DSC (Digital Signature Certificate).
• Obtaining name approval from the Registrar of Companies (ROC).
• Drafting the Memorandum of Association (MoA) and Articles of Association (AoA).
• Acquiring the Certificate of Incorporation (CIN) from the ROC.
• Obtaining PAN, TAN, and opening a bank account for the company.
Why choose Vakilify for Nidhi Company registration?
Vakilify offers expert guidance and assistance throughout the registration process, ensuring a smooth and hassle-free experience. Our professional team provides tailored solutions and ensures compliance with all legal requirements for establishing a Nidhi Company.