Ozg Nidhi Finance Company Experts
Requirements before registration of Nidhi Company
Nidhi Company is incorporated in the nature of Public Limited Company. Hence, all requirements for the Public limited company will be applicable. There is also a myth in the industry that a Nidhi Limited Company is first incorporated as a Public Limited company, and then registration of Nidhi is initiated.
However, the above statement does not hold truth. Nidhi Company is registered from the beginning as a Nidhi limited. There is no separate approval process except further compliance.
Here is the list of requirements for a Nidhi limited company:
- Minimum Seven Members: Nidhi Company can be started with seven members. Out of which 3 are also to be appointed as directors including a female director. These members can be your relatives.
Also, there is no educational qualification required for any of any member.
- Documents Required: Documents required can be further classified into two subheads: Documents of Members and Registered Office.
Documents required for Members are as under:
- PAN Card
- Identity Proof – (Voter ID, Passport, Aadhaar Card, DL etc)
- Current Address Proof – (Bank Statement/Passbook, Electricity Bill, Telephone Bill, Mobile Bill – Any One (Should not be older than two months)
- Passport Size Photograph
Documents required for Registered Office are as under:
- If premises are on rent: Rent Agreement + Utility bill + Signed NOC
- If Premises are owned: Ownership Proof + Utility Bill + Signed NOC
Note: NOC stands for No Objection Certificate: We will provide the format, you just need to sign on plain paper.
Electricity bill, Gas bill, Telephone Bill, Water Bill are served as utility bill for registered office.
- No Minimum Capital Requirement: This requirement has been officially waived off by the Ministry of Corporate Affairs (MCA). Earlier, it was used to be INR 5 lakh, but now you can register Nidhi Company with any amount of capital of your choice.
However, we recommend you to start the company with INR 10 lakh, because of Rule 5 of Nidhi Rules, 2014, which mandates you to have INR 10 lakh owned fund invested into the . So, it is recommended to start the Nidhi Company with INR 10 lakh capital.
Hiring an Experienced Professional: Hiring an expert professional (CA or CS) is your important decision. Please, do proper research before hiring them. On Internet, you may find many eye-catching ad and fake website offering ‘Nidhi Company Incorporation’ service at lower fee. If you do not find right expert nearby then simply fill-up your contact details for complete information and guaranteed services with 100 percent Ozg Assurance .
Click here to learn about: Nidhi Company Registration Procedure.
Feel free to drop your query here or simply email to: firstname.lastname@example.org
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