A Nidhi Company is a company, which is a non-banking financial sector and it comes under the Companies Act, 2013. This company is formed with a motto to lend and borrow money within its members and it is very easy to form as a company.
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The MSME sector contributes to 45% of India’s Total Industrial Employment, 50% of India’s Total Exports, and 95% of all industrial units of the country.
Private Limited Company | One Person Company | Limited Liability Partnership | Partnership Firm | Proprietorship Firm | |
Act | Companies Act, 2013 | Companies Act, 2013 | Limited Liability Partnership Act, 2008 | Indian Partnership Act, 1932 | No specified Act |
Registration Requirement | Mandatory | Mandatory | Mandatory | Optional | No |
Number of members | 2 – 200 | Only 1 | 2 – Unlimited | 2 – 50 | Only 1 |
Number of Director/Partner | 2 – 15 | Only 1 | 2 – Unlimited | 2 – Unlimited | Only 1 |
Separate Legal Entity | Yes | Yes | Yes | No | No |
Liability Protection | Limited | Limited | Limited | Unlimited | Unlimited |
Statutory Audit | Mandatory | Mandatory | Dependent | Not mandatory | Mandatory |
Ownership Transfer ability | Restricted | No | Yes | No | No |
Uninterrupted Existence | Yes | Yes | Yes | No | No |
Foreign Participation | Allowed | Not Allowed | Allowed | Not Allowed | Not Allowed |
Tax Rates | Moderate | Moderate | High | High | Low |
Statutory Compliance | High | Moderate | Moderate | Less | Less |
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Starting a company is easy through OnlineLgealIndia. All that is required are PAN card, Aadhaar card, address proof and bank statement copies of the directors along with address proof for the registered office address. A company can be started in about 10 – 15 days. If you have the necessary documents, sign up for one of our packages and have a company registered with guidance from one of our Advisors.
Limited liability is the status of being legally responsible only to a limited amount for debts of a company. Unlike proprietorships and partnerships, in a private limited company the liability of the shareholders in respect of the company’s liabilities is limited. In other words, the liability of the shareholders of a company is limited only to the value of shares taken up by them.
Authorized capital is the maximum value of equity shares that can be issued by a company. On the other hand, paid up capital is the amount of shares issued by the company to shareholders. Authorised capital can be increased after incorporation at anytime to issue additional shares to the shareholders.
To register a private limited company, a minimum of two people are required to act as directors and shareholders. The directors must be natural persons, while the shareholders can be natural persons or corporate entities. In addition, a registered office address in India is also required for company registration.
Yes, NRIs, foreign nationals and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to be a part of the company on the Board of Directors.
Any person over the age of 18 years can become a director in a company. Also, there are no conditions on residency or citizenship. Hence, NRIs and Foreign Nationals can easily start and manage a private limited company in India.
Yes, every company registered in India must have a registered office where all official communication is sent by the MCA, governmental agencies, financial institutions, etc., The registered office of a company can be in any state of India.
Step 1: Obtaining Digital Signature (DSC) and DPIN
Step 2: Application of DPIN
Step 3: Name approval
Step 4: Form SPICe
Step 5: e-MoA (INC-33) and e-AoA (INC-34)
Step 6: PAN and TAN application
Once the filing of the documents is through, the ROC calls the attorney on a specific date for scrutiny and makes the necessary changes in the MoA and AoA filed. After this is done, the Certificate of Incorporation is granted to the company.
After the registration of the company, the following should be fulfilled:
• Current account should be opened within 30 days of PAN registration
• Appoint a Statutory Auditor
• The paid-up capital should be deposited which was mentioned while registration
• Issue and allot shares
You need to have a minimum capital of Rs. 100,000 to start a private limited company. You need not have this amount in hand or your bank account. You can show this amount as the pre-incorporation expense of the start-up. Also, you can show the capital infused in the assets.
Yes, for sure. You can become the director of any type of company. You need to go through the employment rules if that allows you to do so.
Digital signature is just like a hand signature, but only in this case, it is used to affix with computerized reports. A DSC provides validity to the signature.
It is only possible if you provide sufficient proof of it. This address would be where the company receives important information (if any) from the MCA or any other concerned authorities.
No,there are no extra charges, except Govt stamp duty and Name reservation fee are involved.
The whole process is online. So, a person needn’t go anywhere to register it. You are required to send in your documents via email and fill up our questionnaire to get it done.
