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