SECTION 8 COMPANY:-
Non-Profit making Company or Section 8 company is a Company which has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object and intends to apply its profits, if any or other income in promoting its objects; and intends to prohibit the payment of any dividend to its member.
Who can form a Section 8 Company?
• Any person or association of persons (including a partnership firm)
• Any existing company
• One Person Company cannot be a Sec 8 Company
Advantages of Registering a Section 8 Company
Separate Legal Entity: - A Section 8. Co. is a legal entity and a juristic person established under the Act.
Uninterrupted Existence: - A company has perpetual existence i.e. it won’t be affected by the change, exit or entry of member.
Limited Liability: - Member’s personal assets are safe and liability of members is limited to the assets of a company.
Easy Transferability: Where it is proposedto sell the business as a going concern, all that is required is to transfer the entire shareholding to the purchaser and thus facilitate easy change in management and ownership.
• Minimum 2 Directors
• The object must be charitable, to promote arts, science, commerce etc
• Intends to apply all its profit in promoting the objectives
• Assures the prohibiting of the payment of dividends to any of its members
Scanned Copy of the Following Documents has to be Provide by the Promoters of the Company:
PAN card copy with Self attestation.
Voter Id copy or Passport copy or Aadhar card copy or Driving license copy with self-attestation.
Latest Bank account statement or Mobile /Telephone bill or Electricity Bill (not older than two months)- no need for self-attestation.
Latest passport size photo in jpg.
For the registered office proof of the company, if the property is rented/ leased, then copy or rental agreement or lease agreement.
Copy of Electricity bill or Property Tax receipt or Water Tax receipt not older than two months.
Copy of No objection certificate from the owner of the property.
If owned property, copy of Sale Deed and Electricity bill is sufficient.
In case of NRI or Foreign national, Passport copy has to be notarized at the Indian Embassy of the particular country.
Utility bill has to be provided of the particular country where the NRI or Foreign national resides and it should be notarized.
Digital Signature for Directors
DIN for Directors
Name search & approval
Preparation of MOA/AOA
ROC registration Fees
Company PAN Card.