Section 8 Company Registration
Section 8 Company Registration
Get Section 8 Company Registration @ ₹15,999/-
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Overview of Section 8 Company
Section 8 company is a corporation, registered as a Non-Profit Organization (NPO). The major intent contains the promotion of arts, commerce, charity, education, protection of the environment and so forth. Thus, the application of its profits, if any, or other income is utilized for the purpose of promoting the objectives. It functions similarly like a limited company which includes all the rights and obligations that come with such a corporation. It is vital to mention that it differs from a corporation in one very crucial aspect, that it cannot use the words “Section 8” or “Limited” in its name.
These are limited corporations which are registered under the Companies Act and would be treated as limited companies without the phrase “limited” added towards their name. They might have been registered as private limited or public limited companies.
Documents required for Section 8 Company Registration
- Articles of Association (aka AOA) & Memorandum of Association (MOA)
- Declaration by the first director(s) as well as a subscriber(s) (Affidavit not required)
- Proof of office address
- Copy of utility bills such as electricity bill, water bill, or gas bill
- Copy of certificate of incorporation (COI) of an overseas body corporate (if any)
- A resolution passed by the promoter company
- Consent of Nominee (INC–3)
- Resident and identity proof of nominees & subscribers
- Applicant’s identity as well as residential proof
Fees for Section 8 Company Registration
Price
- Free Company Name Search & 1 run Name Approval
- Upto 10 lakh authorised capital
- 2 DSC
- 2 DIN
- Incorporation fees
- Incorporation Certificate
- MOA & AOA
- Company PAN & TAN
- New Company Incorporation kit
- Shares Certificate
- Bank A/C opening documents support
- Continuous Legal Support (On call support for 1 year))
- Government Fee Included
Frequently Asked Questions
Any person or an association of persons intending to register a limited liability company for objects specified below can opt to apply for registration of Section 8 Company.
The following have to be proved to the satisfaction of the Central Government that:
(a) its objects includes promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object;
(b) the company after incorporation intends to apply its profits, if any, or other income in promoting such objects only; and
(c) the company intends to prohibit the payment of any dividend to its members.
Registrars of Companies of respective jurisdictions are delegated with the powers of Central government to issue license to Section 8 Companies.
To incorporate a Section 8 Company, an application shall be made to the Registrar of Companies in Form no. INC.12, which shall be accompanied, inter alia, by the following documents:
i. Draft Memorandum of Association (MOA) and Articles of association (AOA) of the Company in prescribed format (Form no. INC – 13) where the photographs of subscribers are affixed.
ii. A Declaration is to be attached in Form no. INC-14 (on the stamp paper, duly notarized) by an Advocate, a Chartered Accountant, Cost Accountant or Company Secretary in practice, that the draft memorandum and articles of association have been drawn up in conformity with the provisions of section 8 and rules made there under and all the requirements under section 8 have been complied with.
iii. An estimate of the future annual income and expenditure of the company for next three years, specifying the sources of the income and the objects of the expenditure.
iv. A declaration (in Form no. INC-15) on stamp paper duly notarized by each of the persons making the application and
v. Form no. INC-9 from each subscribers and first directors, on appropriate stamp paper of the State and duly notarized.
Section 8 Company may be incorporated as a company limited by shares or by Guarantee (with or without share capital).
Yes. As per rule 8(7) of the Companies (Incorporation) Rules, 2014, for the Companies under Section 8 of the Act, the name shall include the words foundation, Forum, Association, Federation, Chambers, Confederation, council, Electoral trust and the like etc.
There are special requirements to be complied with under the Foreign Contribution and Regulation Act, 2010 before a Section 8 Company can receive any contributions or donations from overseas/outside India from non-residents. The provisions of the said Act are in addition to the provisions under the Companies Act.
The prescription under section 149(1) of Companies Act 2013 as to having Minimum of three directors for public limited company and two directors for private limited company and maximum of fifteen directors is not applicable to section 8 company and thus there is no prescription with respect to minimum or maximum directors in a section 8 Company.
However, second proviso to section 149(1) requires a woman director in prescribed class of companies. Also section 149(3) requires every company to have a resident director.