Nidhi Company Registration
Register your Nidhi Company legally and confidently with Prospect Legal — Madhya Pradesh’s trusted legal partner for NBFC setup and compliance.
What is a Nidhi Company?
A Nidhi Company is a type of Non-Banking Financial Company (NBFC) incorporated with the objective of cultivating the habit of thrift and savings among its members. It operates primarily to accept deposits and lend to its members only. Governed under Section 406 of the Companies Act, 2013 and the Nidhi Rules, 2014, Nidhi Companies are ideal for those looking to build a small financial institution with a community-first approach.
Benefits of Starting a Nidhi Company
- ✔ Easy to Incorporate: No RBI approval required unlike other NBFCs.
- ✔ Low Cost Structure: Fewer compliance requirements.
- ✔ Financial Empowerment: Help members borrow and save legally.
- ✔ Separate Legal Identity: Limited liability and corporate recognition.
- ✔ Encourages Savings: Designed to promote financial inclusion and discipline.
Eligibility Criteria
- ✔ Must be a Public Limited Company
- ✔ Minimum 200 Members within 1 year of incorporation
- ✔ Minimum Net Owned Funds of ₹10 Lakhs
- ✔ Unencumbered Term Deposits of 10% of outstanding deposits
- ✔ NO dealings with non-members
Documents Required
- ✔ PAN & Aadhaar of All Directors
- ✔ Passport-size Photos
- ✔ Electricity Bill/Property Tax Receipt for Office
- ✔ Rent Agreement (if applicable)
- ✔ No Objection Certificate (NOC) from Property Owner
- ✔ Digital Signature Certificates (DSC)
- ✔ Draft MOA & AOA (We Prepare)
What Prospect Legal Will Do
- ✔ Company Name Reservation (RUN Form)
- ✔ DIN & DSC for All Directors
- ✔ Incorporation Certificate from MCA
- ✔ MOA, AOA Drafting & Filing
- ✔ PAN, TAN, GST Registration
- ✔ Nidhi Rule Compliances
- ✔ Post-Incorporation Legal Guidance
Start Your Nidhi Company With Confidence
Fill out the form and our expert legal team will call you within 1 hour to begin the process.
