Starting a Nidhi Limited company is a strategic move for those looking to promote savings and offer low-interest loans within a community. Nidhi companies are unique non-banking financial institutions that prioritize the welfare of their members, focusing on mutual benefits through savings and loans. However, navigating the process of setting up a Nidhi Limited can be complex, involving specific prerequisites, multiple steps, and ongoing compliance requirements.
To help you establish and maintain your Nidhi Limited company, we’ve outlined the essential prerequisites, the step-by-step registration process, and the critical compliance requirements. This guide is designed to make your journey smoother, ensuring you meet all regulatory obligations while empowering your financial ventures.
Register Your Nidhi Limited – Simple Steps to Financial Empowerment!
Prerequisites for Registration
Minimum Members: At least 7 members and 3 directors.
Capital Requirements: Minimum paid-up equity share capital of ₹5 lakhs.
Unique Name: Choose a unique name for your Nidhi company.
Registered Office: A physical office space to register your company.
Steps Involved in Nidhi Limited Registration
Obtain Digital Signatures (DSC):
Get DSC for all directors for online document submission.
Director Identification Number (DIN):
Apply for DIN for the directors if not already obtained.
Name Reservation:
Apply for name reservation using the RUN (Reserve Unique Name) form.
Preparation of MOA & AOA:
Draft the Memorandum of Association (MOA) and Articles of Association (AOA).
Filing of Incorporation Documents:
Submit Form SPICe+ (INC-32) along with the required documents, including MOA, AOA, and identity/address proof.
Obtain Certificate of Incorporation:
After verification, receive the Certificate of Incorporation from the Registrar of Companies (ROC).
PAN & TAN Application:
Apply for the company’s PAN and TAN through the SPICe+ form.
Commencement of Business:
File a declaration of commencement of business within 180 days of incorporation.
Compliance Requirements
Annual Compliance:
File financial statements and annual returns (Form AOC-4 and MGT-7).
Statutory Compliance:
Maintain statutory registers and records.
Conduct annual general meetings (AGM).
Periodic Returns:
File Form NDH-1, NDH-2, and NDH-3 for Nidhi company-specific compliance.
Audit & Tax Filing:
Conduct annual audits and file income tax returns.
