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

No Profit Motive

The companies registered under section 8 of the companies act, cannot distribute profits or assets to its members.

Voting Rights

The voting rights to the members of section 8 company are based on the number of shares, similar to that of any other company.

No Minimum Capital

There is no minimum level of capital prescribed, hence a section 8 company can be incorporated with the capital as required by it.

One Resident Director

One director of the company must be resident in India. A person is said to be a resident when he stays in India for at least 182 days in the FY.

Documentation of the Section 8 Company Registration

Documentation of the Promoters
  • Photo & Identity Proof of Each Promoter
  • PAN Card of Each Promoter
  • Address Proof of Promoter
Documentation for the Company Registered Address
  • Proof of Registered Office
  • Utility Bill as proof must be Latest
  • NOC from the owner of premises

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.

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