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Nidhi Company

A Nidhi Company is a type of Non-Banking Financial Company (NBFC) that operates to cultivate the habit of savings and thrift among its members. Registered under Section 406 of the Companies Act, 2013, a Nidhi Company is primarily involved in lending and borrowing money among its members. Unlike other NBFCs, it does not require an RBI license but must comply with Ministry of Corporate Affairs (MCA) regulations.

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Benefits of Nidhi Company Registration

  • No RBI Approval Required – Easier to establish compared to traditional NBFCs.
  • Limited Compliance Requirements – Fewer regulatory obligations than other financial institutions.
  • Encourages Savings – Promotes financial discipline among members.
  • Limited Liability – Protects personal assets of directors and members.
  • Cost-Effective Formation – Lower registration and operational costs.

Required Documents for Nidhi Company Registration

To successfully register a Nidhi Company, the following required documents must be submitted:

Legal Documents

  • Proposed Company Name Approval (RUN Form)
  • Memorandum of Association (MoA) & Articles of Association (AoA)
  • Declaration by Directors (DIR-2 Form)
  • Affidavit from Directors & Shareholders

Identity & Address Proof

  • PAN Card of Directors & Shareholders
  • Aadhaar Card, Passport, or Voter ID
  • Electricity Bill, Water Bill, or Rental Agreement (For Office Address Proof)
  • Passport-sized Photos of Directors

Financial & Compliance Documents

  • Bank Statement (Last 6 Months)
  • Digital Signature Certificate (DSC) & Director Identification Number (DIN)
  • List of Members (Minimum 200 within 1 year)

How Elvez Can Assist You

At Elvez, we provide complete support for Nidhi Company Registration, ensuring a hassle-free and legally compliant process. Our services include:

  • Eligibility Consultation – Ensuring you meet the government’s Nidhi Company criteria.
  • Document Preparation & Verification – Helping you collect and verify all required documents.
  • Online Registration & MCA Compliance – Filing SPICe+ (INC-32) Form for company incorporation.
  • Post-Registration Assistance – Helping with tax registration, statutory compliance, and annual filings.
  • Ongoing Support & Business Growth Strategies – Guiding you in operating and scaling your Nidhi Company.

Steps to Register a Nidhi Company

  1. Choose a Unique Name & Apply for Name Approval (RUN Form).
  2. Obtain Digital Signature Certificate (DSC) & Director Identification Number (DIN) for all directors.
  3. Prepare MoA & AoA and File Incorporation Application (SPICe+ Form).
  4. Obtain Certificate of Incorporation from MCA.
  5. Open a Bank Account & Start Business Operations.
  6. Meet Nidhi Company Requirements within One Year (Minimum 200 Members & ₹10 Lakh Net-Owned Funds).

Conclusion

A Nidhi Company is an excellent choice for entrepreneurs looking to start a small-scale financial business focused on savings and lending. It offers an easy registration process, fewer compliance requirements, and limited liability.

With Elvez, you can register your Nidhi Company hassle-free, ensuring smooth operations and full compliance with MCA regulations.

Start your Nidhi Company registration with Elvez today!