Get Your Nidhi Company Registrated
The business of Nidhi Company is concerned with the acceptance of deposits and lending of money. As compared to the registration processes of other NBFCs, This registration process is an easy one. In respect of taxation and annual compliances, Nidhi companies enjoy the benefit of specific exemptions. Nidhi Company incorporation will invigorate the feeling of savings as well as smart spending in the mind of its members.
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Benefits of Nidhi Company
- Easy Formation Without Any Complexity InvolvedThe registration process of Nidhi Company relishes freedom from all kinds of complexities. As less documentation process prevails from the beginning to end in Nidhi Company Registration, Initiating a Nidhi Company is an easy task. In addition to this, the registration process gets completed within one or two weeks.
- Limited LiabilityIn accordance with the Companies Act, 2013, directors and shareholders are having limited liability. In the game of business, either there will be profit or the company have to incur losses. While performing the business activities, if the company suffers from any loss or even goes through any financial trauma, creditors, banks, and the government have no power to seize the personal assets of any of the shareholders or even the directors.
- High Certainty ValueIn a developing nation like India, From 8 years old child to 60 Years older adult is interested in saving their money. Here, the habit of saving is going in the same line with the central goal of Nidhi Company. Inculcating the habit of saving amongst its members is one of the primary purposes of Nidhi Companies. As it is a going concern of establishment and is full of certainty, members would keep on sticking to the good habit of saving.
- Few GuidelinesBeing governed under the Nidhi Rules, 2014, Nidhi Companies have to follow fewer guidelines imposed by RBI. The monitoring and regulating hat remain in the hand of the Central Government. It empowers them to control the operating part along with all their activities. Even though Nidhi Company falls under the category of NBFC, it rarely follows RBI Regulations. You can definitely form your Nidhi Company in India as RBI is not going to create any trouble in your path. Go ahead without putting yourself in any rush-n-hush.
- Separate Legal EntityBeing a separate legal entity from its shareholders, directors as well as promoters, Nidhi Company can own property and incur debts on its name. It has got the power to sue anybody or be sued by others. If there will be a requirement for the fund in the company, the company cannot ask its members for any contribution.
- Easy Availability Of FundsNidhi Company is the most secure and most accessible way of accepting deposits from the end of the general public. Only the requirement is that they should be the registered members.
- Perpetual ExistenceDeath or departure of any member is not going to affect a Nidhi Company as it has perpetual existence. Perpetual succession allows the Nidhi Company to continue till the time it gets dissolved legally.
- Meeting The Requirements Of Lower And Middle ClassNidhi Companies play a crucial role in fulfilling the demands of people belonging to the category of lower and middle-income society by extending financial support to them without any further lengthy documentation involved.
- Ease Of Managemen In Nidhi Company, bringing changes is not a matter of worry and concern, unlike other NBFCs.