To start a nidhi company, it must be incorporated as a Limited Company under the companies act. The company ought to have a minimum of 7 shareholders and 3 directors. The company should have a minimum of Rs.5 lakhs of fair capital. Every company should have a minimum of 200 members. The company should have Net Owned Funds worth Rs.10 lakhs or more.
Documents required for registration
• Proof of registered place of business (rent/lease agreement)
• No Objection Certificate (signed by the owner/landlord)
• Identity proofs
• Address proof of the members
• Photos of the members
• Digital Signature Certificate (DSC) of the directors
• PAN card of the members
• Director Identification Number (DIN) of the directors
• Memorandum of Association (MoA) of the company
• Articles of Association (AoA) of the company