Section 8 Company Registration
The section 8 Company is an organization which is registered as non-profit organization and whose main objective is to promote arts, commerce, charity, environment protection, religion, social welfare, research, education, sports and science. The Section 8 Company is not registered for the purpose of profit but it is registered for the purpose of charity. This type of company is same as a society or a trust. The Section 8 Company does not pay dividends to its members or shareholders. Its income or profits are used for promoting the charitable objects only.
The societies and trusts are registered under the regulations of the state government but the “ministry of corporate affairs” has the power to register a Section 8 Company. Section 8 Company offers various advantages as compared to societies and trusts. The most important feature of this type of company is that the company name can be incorporated without adding or using the word “Private Limited” or “Limited” or “section 8”. The central government provides incorporation certificate to all such companies as well as inform them about some restrictions and conditions too. In case, they are not able to fulfill the conditions, govt. may take a step of winding up their company. In case of fraud, a legal action will be taken against all officers of the company.
Documents Needed for Section 8 Company Registration
What Is Included In Our Package?
Step by Step Procedure for Section 8 Company Registration
DIN/DSC: For section 8 company registration, the first step is to get the Director Identification Number (DIN) and a Digital Signature Certificate (DSC) of all the company directors.
2Name approval: The name of the company should be unique and not same or similar to the name of any other registered company. The form number INC 1 is to be filed with ROC to the ministry of corporate affairs for the name approval .
As per rule 8 (7) of the Companies (Incorporation) Rules 2014, the name of the section 8 company can include any of the given word like Electoral Trust, Council, Confederation, Chambers, Federation, Association, Forum and Foundation.
3Memorandum of Association and Articles of Association: After the name approval, memorandum of association and article of association will be drafted and filed with the RoC including the other documents in the E-Form INC 12. The memorandum of association and articles of association subscription pages will be signed by every subscriber by mentioning his or her name, address, occupation and description in the presence of one witness who will attest the signature.
Form INC – 12: The applicant needs to file form INC-12 for issue of license under section 8 of the companies act, 2013 including the following documents -
After the form INC 12 is approved, a license is issued in form INC–16 under section 8 of the companies act, 2013.
After issuing of license, the following forms are needed to be filed with the ROC on the website of corporate affairs.
Application for incorporation of the company (Form. No INC – 7) is to be filed along with the following attachments -
Application for location of registered office (form number INC – 22) includes the following attachments:
Application for appointment of company directors (Form number DIR – 12) includes the following attachments:
When the RoC is satisfied with incorporation form and the documents, an incorporation certificate is issued by the registrar of companies along with a distinct Company Identification Number (CIN).
Important Features of Section 8 Company
Benefits of Section 8 Company Registration
Frequently Asked Questions
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