Nidhi Company Registration In Visakhapatnam

Easy Formation: Nidhi Companies boast a straightforward and hassle-free formation process with minimal requirements, making it accessible for those looking to establish such entities.
Non-Compliance with RBI: Nidhi Companies are not bound by the Reserve Bank of India (RBI) guidelines, allowing them to set their own operational rules and regulations.
Lower Risk: Transactions involving lending, borrowing, or depositing are carried out by members of the Nidhi Company, reducing financial risks and ensuring a sense of security within the community.
Economic Registration: The registration process for a Nidhi Company is cost-effective when compared to other Non-Banking Financial Company (NBFC) registration procedures, which facilitates easier access to business loans and financing options.
Savings Promotion: Nidhi Companies play a pivotal role in promoting a culture of saving among the Indian population, thereby contributing to financial prudence.
Net-Owned Funding System: Nidhi Companies typically adopt a cost-effective net-owned funding system, which can enhance their business growth prospects by efficiently utilizing their own resources and funds.

Name: Nidhi Company
Brand: IndiaFilings
SKU: 9
Price: 34899 INR
Availability: InStock
Rating: 4.5 (7899 reviews)

To register a Nidhi Company in Visakhapatnam no license is needed from the Reserve bank of India. Forming a Nidhi Company is comparatively easy and less tedious. For Nidhi Company Registration in Visakhapatnam, it should be first registered as a public company.

Minimum requirements for Nidhi Company Registration in Visakhapatnam.

To incorporate a Nidhi Company in Visakhapatnam at least seven members are required. Out of these seven three should be the designated directors.

Also, Nidhi company registration requires the Nidhi company to acquire at least 200 members within one year of commencement.

It is also necessary to ensure that the objective mentioned in the Memorandum of association of the Nidhi Company is to cultivate the habit of thrift and savings among the members.

To register a Nidhi Company in Visakhapatnam it is necessary to have an equity share capital of a minimum of Rs.5 lakh. Also, the Net Owned Funds (NOF) must be increased to Rs10 Lakh within 1 year of registration.

IndiaFilings has been the best service provider for registrations and incorporation across India. You can easily get Nidhi Company registration in Visakhapatnam within 15-20 days through IndiaFilings. Our consultants will help you in understanding your business requirement and also guide you throughout the process of registration.