Nidhi Company Registration Fees in India
Nidhi Company Registration Fees in India – Starting a Nidhi Company in India involves several legal procedures including registration with the appropriate authorities. One of the essential aspects to consider while registering a Nidhi Company is the associated fee. Legal Hub India will bring you a comprehensive guide to help you understand Nidhi Company Registration Fees in India. We will discuss the various components that make up these fees and provide an overview of the registration process. By the end of this article, you will have a clear understanding of the financial aspects involved in setting up a Nidhi Company.
What is Nidhi Company?
Nidhi Company is a type of Non-Banking Financial Institution (NBFC) that functions primarily for the benefit of its members. The main activities of a Nidhi Company include accepting deposits and granting loans to its members. Nidhi companies are regulated under the Companies Act, 2013, and are governed by the Ministry of Corporate Affairs. These companies work on the principle of mutual benefit, the main objective of which is to generate thrift and savings among its members.
Nidhi Company Registration Fees in India
When registering a Nidhi company in India, there are several components that contribute to the overall Nidhi Company Registration Fees in India. Let’s explore these components in detail:
Name Approval Fee
Before registering a Nidhi company, you need to obtain name approval from the Registrar of Companies. The fee for name approval varies based on the authorized capital of the company. The name approval fee ranges from INR 1,000 to INR 2,000, depending on the authorized capital of the company.
Digital Signature Certificate Fee
To complete the registration process online, you need to obtain a DSC for the proposed directors of the company. The cost of obtaining a DSC may vary depending on the service provider. The cost of obtaining a DSC for each director can range from INR 1500 to INR 2,000 per person.
Director Identification Number Fee
Each director of the Nidhi company must have a unique DIN issued by the MCA. The fee for obtaining a DIN is nominal. The DIN fee is approximately INR 500 per director.
Incorporation Fee
This fee includes the cost of drafting the Memorandum of Association (MOA) and Articles of Association (AOA) of the company, as well as the filing fee for the incorporation application. For example, if the authorized capital is up to INR 1 lakh, the fee is around INR 5,000. For authorized capital above INR 1 lakh, an additional fee is applicable.
Stamp Duty and Notary Charges
Stamp duty is applicable on various documents during the registration process, such as the Memorandum and Articles of Association. Notary charges may also apply for attesting certain documents.
Professional Fee
Seeking professional assistance from chartered accountants or company secretaries for the registration process may incur additional fees, which vary based on the complexity of the application and the scope of services required.
Which document is required for Nidhi Company Registration?
To register a Nidhi Company in India, you will need the following documents:
Directors’ Documents:
- Identity proof (PAN card) of all directors
- Address proof (Aadhaar card, passport, voter ID, or driving license) of all directors
- Passport-sized photographs of all directors
- Proof of residence (bank statement, utility bill, or telephone bill) of all directors
Registered Office Documents:
- Proof of registered office address (ownership document or rental/lease agreement)
- No-objection certificate (NOC) from the owner of the registered office
- Utility bill (electricity bill, water bill, or property tax receipt) as proof of address of the registered office
Other Documents:
- Digital Signature Certificates (DSC) of all directors
- Memorandum of Association (MOA) and Articles of Association (AOA) of the company
- Declaration of compliance with the Nidhi Company rules
It is important to note that the exact documentation requirements may vary based on the specific rules and regulations in your jurisdiction. It is advisable to consult with a professional or a chartered accountant to ensure that you have the correct and updated list of documents required for Nidhi Company registration in your specific case.
Conclusion
Starting a Nidhi Company in India involves a systematic registration process and associated fees. Legal Hub India helps to explain the components of registration fees for planning Nidhi Company Registration Fees in India. By familiarizing yourself with the registration process and associated costs, you can make informed decisions and ensure compliance with legal and regulatory requirements. Consulting professionals or taking guidance from relevant government authorities can provide more clarity and help you set up your Nidhi Company successfully.
FAQ About Nidhi Company Registration Fees in India
Q – Are there any other fees involved in the registration process?
A – These can include stamp duty charges for the preparation of the Memorandum of Association (MOA) and Articles of Association (AOA) of the company. The stamp duty charges vary from state to state in India.
Q – Are there any recurring fees after the registration of a Nidhi company?
A – Yes, Nidhi companies are required to maintain a minimum net owned fund of Rs. 10 lacks, and if the NOF falls below this threshold, they need to pay penalties or face potential restrictions.
