Introduction:-
Nidhi companies, often referred to as mutual benefit societies or mutual benefit companies, play a pivotal role in securing the financial future of individuals by promoting thrift and savings within a community. These companies primarily work by accepting deposits from their members and lending to other members. Before setting up a Nidhi company, it's essential to understand the registration process and, of course, the associated fees. In this article, we will delve into What is the Registration Fees for Nidhi Limited Company.
Nidhi Company Registration Process:-
Before we delve into the specifics of registration fees, let's briefly go over the steps involved in registering a Nidhi Limited Company:
- Director Identification Number (DIN) and Digital Signature Certificate (DSC): The first step is obtaining a DIN for the proposed directors and a DSC for the authorized signatories.
- Name Approval: Choose a unique name for your Nidhi Limited Company and get it approved by the Registrar of Companies (ROC).
- Memorandum and Articles of Association: Draft the Memorandum of Association (MOA) and Articles of Association (AOA) of the company.
- Application for Incorporation: File the necessary forms along with the MOA and AOA to apply for incorporation.
- Certificate of Incorporation: Once all requirements are met, the ROC issues a Certificate of Incorporation.
Registration Fees for Nidhi Limited Company:-
The registration fees for a Nidhi Limited Company may vary based on factors like authorized capital and the state in which the company is registered. Here's a general breakdown:
- Authorized Capital: The registration fee is calculated based on the authorized capital of the company. It's important to note that there is a minimum authorized capital requirement for Nidhi companies, as prescribed by the Companies Act, 2013.
- Stamp Duty: Stamp duty may be applicable depending on the state where the company is registered. This fee varies from state to state.
- ROC Fees: The Registrar of Companies charges a fee for processing the application for registration.
- Professional Fees: If you choose to engage a professional service for assistance in the registration process, there will be additional fees.
- Other Incidental Expenses: These may include expenses for drafting the MOA and AOA, obtaining DIN and DSC, and any other legal or professional services availed.
Online Nidhi Company Registration:-
In today's digital age, most registration processes, including that of a Nidhi Limited Company, can be completed online. This streamlines the process, making it more convenient and time-efficient for aspiring entrepreneurs.
To initiate online Nidhi company registration, follow these steps:-
- Visit the MCA Portal: Go to the Ministry of Corporate Affairs (MCA) website.
- Create an Account: If you haven't already, create an account on the MCA portal.
- Apply for DIN and DSC: Apply for the Director Identification Number (DIN) and Digital Signature Certificate (DSC) for the proposed directors.
- Name Approval: Apply for name approval for your Nidhi Limited Company.
- File for Incorporation: Submit the necessary forms along with the MOA and AOA.
- Pay Registration Fees: Pay the requisite fees online.
- Receive Certificate of Incorporation: Once approved, you will receive the Certificate of Incorporation.
Conclusion:-
Understanding the registration fees for a Nidhi Limited Company is crucial for budgeting and planning. By leveraging online registration processes, aspiring entrepreneurs can streamline the journey to establishing their Nidhi Limited Company.