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Nidhi Company Registration in Chennai

Nidhi company registration in Chennai is now easy through Smartcorp who provides finest services with professional experts. Smartcorp has expanded their services in Ambattur, Velacherry, Adayar, Guidy, Mylapore, Saidapet and Porur. They have a decade of experience in this sector and named as the best consultant in Chennai. Our goal is to satisfy the customer expectation with the finest service and to make registration process as simple as quick at affordable cost.

Nidhi Company is a non-banking sector; the main core of the Nidhi Company is lending and borrowing money between them with mutual concern. It is also named as mutual benefit company, mutual benefit funds and permanent fund. Nidhi Company is registered under the section 406 of the Companies act 2013 along with the company rule 2014. There is no RBI licence to start Nidhi Company and a principle of mutuality is the basic criteria concept of Nidhi Company. Every registered Nidhi company should mention their name of the company as Nidhi Company limited. This company have tax benefits and the registration process of Nidhi Company is less complicate when compared to other non-banking companies. In a span of one year, the company must ensure that it has not less than 200 members. 80% of the Nidhi Company is located in Tamil nadu.

Documents required for Nidhi company registration

    Pan Card Copy of Directors
  • Recent Passport size Photo
  • Aadhar card
  • Electricity bill, latest bank statement for Registered Office Proof
  • No Objection Certificate –NOC will be signed by the owner.
  • Digital Signature certificate
  • Director Identification Number of directors
  • Memorandum of Association
  • Articles of Association

Benefits of Nidhi company registration

  • Simple documentation- Simple and hassle-free documentation process.
  • Nidhi Company registration is done easily through online.
  • No RBI Compliance - To form a Nidhi Company, RBI approval is not necessary
  • Less level of Risk when compared to other finance sector, risk of loan repayment is less.
  • In Nidhi Company, the minimal rate of interest or paid charge is applicable.
  • The funds raised are limited to the availability of the credit and compared to the other finance companies, Nidhi Company is limited.