Section 8 Company Registration
For the purpose of promotion of commerce, art, science, religion, charity or any other useful object, a company can be incorporated after obtaining section 8 license from the central government. The license is essentially permission to delete private Limited from the proposed name.
Section 8 company is suitable for non-profit objective and it may a private limited or a public limited company. As per law in case the proposed section 8 company is a private limited then minimum two promoters is required, however in case it is a public limited section 8 company then minimum 7 person must be the promoters of the company. A ‘Section 8 Company’ is eligible for certain exemptions from provisions of law and a concessional rate of fees. The process of incorporation of a section 8 company is similar to that of any other company registration in India with an additional requirement of seeking a prior license from the central government under section 8 of the companies act, 2013.
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Important Points on Section 8 Company
Documentation of the Section 8 Company Registration
Documentation of the Promoters
Documentation for the Company Registered Address
Section 8 Company Registration Process
Digital Signature Of Director – Step – 1
As the application for Company Incorporation is filed online, the process starts with the issuance of Digital Signatures of class two.
Name Approval Of Company – Step – 2
The Company name must be unique and should not be the same or similar to an existing company, LLP or a trademark.
License For Section 8 Company – Step – 3
An application is filed before the central government for grant of license to incorporate a company without Limited in their name.
Incorporation, PAN AND TAN – Step – 4
An application is made to the ROC office for incorporation of section 8 company, and allotment of PAN and TAN.