#Section8CompanyRegistration

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A Section 8 Company in India is a not-for-profit organization established under Section 8 of the Companies Act, 2013. Its primary goal is to promote social welfare, education, arts, science, sports, and more. Profits are reinvested to achieve the company's objectives, with tax benefits and no dividend distribution to members.

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Section 8 Company License

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What is Section 8 Company?

Section 8 of the Companies Act 2013 provides for the formation of the companies with charitable objects etc. Section 8 Company, (earlier Section 25 Company of the Companies Act, 1956), is a legal entity for Non-Government or Non-Profit Organizations.  It is a type of company which is established with the objective to promote commerce, arts, science, sports, education, research, social welfare, protection of the environment or any other such object.

Eligibility for Section 8 Company Registration?

- Minimum Person Requirement - Minimum Capital Requirement - Unique Name - Resident Director - Social or Welfare Object - No Profit Distribution Two person is required to become the shareholder / director of the company. However, the number of shareholders can’t exceed 200 No minimum capital is prescribed, it must be based on the business requirements. The registration fee is based on the amount of capital. The name of the company should be unique and should not be similar to the any existing company name or trademark. Among director, one person must be resident Indian. The object of the section 8 Company shall be to promote Commerce, Art, Science, Sports, Education, Research, Social Welfare, Religion, Charity & Protection of Environment. It Intends to apply all its profit in promoting the objectives. Profits of company to be applied only for the promotion of object of the company for which it is formed and there is a prohibition on payment of dividend to its members.

Documents required for Section 8 company license

- Identity Proof (Directors and Shareholders) - Address Proof (Directors and Shareholders) - Proof of Registered Office - Other Documents - Note - PAN cards for Indian national (mandatory) - Passport for foreign nationals (mandatory) - Proof of nationality for foreign nationals. - Proof of Identity: (Voter ID/ Passport/Driving License) (any one) - Resolution of the board of company /LLP for authorisation  of director/partner - Passport size photos - Bank Statement,  Electricity /Telephone/Mobile bill) (Not older than 2 months) (any one)   - Conveyance /Lease deed / Rent agreement etc. along with rent receipts (any one) - Copy of utility bills (Telephone/Gas/Electricity bill) (not older than 2 months) (any one) - NOC from landlord - DSC forms (physically signed) All the documents in case of foreign director should be additionally complied as follows: - Notarised (if residing is commonwealth countries). -  Notarised and apostiled (if residing in country which is signatory to  Hague convention.) - Notarised and consularied (if not covered in  above categories).

Procedure for Section 8 company license

- Step 1: Reservation of name of company - Step 2: Take DSC of directors and shareholders - Step 3: Approval of other regulators (if required) - Step 5: Get certificate of registration , PAN and TAN - Step 5: Open Bank Account of Company

Benefits of Section 8 Company license

- Tax Exemption: Numerous Tax exemptions are provided to Section 8 Companies, specifically to the donors who are contributing to Section 8 Companies, they can claim the Tax exemption against the donation they made to a Section 8 company. - Capital Requirement: There is no prescribed limit over section 8 companies for the minimum capital requirement unlike other entities such as public limited, but the capital structure can be altered at any stage as the required for the growth of the company. - Stamp Duty: A section 8 Company is exempted for the payment of stamp duty applicable for registration as applicable in case of other structures such as private limited or a public limited company. - Separate Legal Entity: Company legal entity are separate than its shareholders/promoters. - Title Requirement: Unlike the names requirements of the private limited or a public limited company, a section 8 company does not require to use a suffix next to its name. - Perpetual Existence: Company existence will go for ever and its existence will not be effected by the death of shareholders, directors or transfer of shares to others. - Credibility: A Section 8 Company has more credibility as compared to any other Non-profit organization structure be it a Trust or Society. As it is a licensed by the central government. It has more stringent regulations such as no change in MOA and AOA can be done at any stage or situation in a Section 8Company. A section 8 company due its strict compliances as regard to functioning has a more reliable image in comparison to other legal structures.

Frequently Asked Questions (FAQ)

Can Section 8 Companies receive contributions from overseas or non-residents? 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.

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Advantages of Section 8 Company

If charity and social service is what you want to do, your company must fall under Section 8 of the Companies Act 2013. Objective of this company is facilitating growth of trade and commerce in India.

Here are the advantages of a Section 8 company for your better understanding

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Section 8 Company Registration Online In India

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Section 8 Company Registration - Start-up with Filingindia, Registration is necessary or vital for a kind and helpful, cooperative reason. This appearance of business and commerce registration is not for achievement, accomplishment or get hold of and attain the profit. For this reason and cause it is a non-profit commerce and industrial registration which can be quite or comparatively easy with Filingindia. Documents required for Section 8 Company Registration / NGO Registration Documents to include a section 8 company • Proof of identity of all directors - A copy of PAN card (mandatory). • Address Proof - Copy of Aadhaar / Driving License / Passport / Telephone Bill / Electricity Bill. • Passport size photograph of all directors. • Rent agreement in the event of the company's registered office being hired. • Registered office utility bill. • Form DIR-2 which is consent to act as a director. • Director's interest in other institutions. Section 8 The Company has to comply with annual compliance like other companies, in case of non-compliance; the company will be treated as a passive company and can be removed from the register. Section 8 Procedure for incorporation of company registration The following steps need to be taken to include a section 8 company here DSC First, get hold of the Digital Signature Certificate (DSC) of all directors and promoters of the company, if they do not have the same. An application for obtaining DSC is made to the certified authority. Deen Secondly, obtain a Director’s Identification Numbers (DIN) for all directors in a company. Name approval For name endorsement, or authorization an application will be filed in Form INC-1 to the Registrar of Companies. A maximum of six names can be making available by the applicant for name authorization or approval. Accepted name is valid for 60 days. Section 8 it is essential for a company to include and involve words such as Foundation, establishment, Association, Forum, Council, Chamber etc. as per incorporation rules 2014 of the company. Draft MOA and AOA After the name approval, the next step is to draft the MOA and AOA and then it is required to file it in ROC in Form 12 along with other documents for license under Section 8 of the Companies Act 8, 2013. The MOA and AOA must be signed by the members of the memorandum. Application for license Form INC 12 has been filed with the ROC for issuing a license to a Section 8 company under the Companies Act, 2013. Following Attachments: • 13 Inc. (Memorandum of Association). • article of association. • INC 15 (Announcement by MOA's customers). • Statement of income and expenditure. • List of directors of the company. • The subscriber page of MOA & AOA should be handwritten by subscribers and witnesses. • After approval of the form, the license is issued in Form INC 16. Incorporation Application The incorporation application form is filed in INC 7 with the attachment: • Memorandum of Association. • Article of association. • Declaration by professional as INC INC 8. • In Affidavit INC 9 by each customer of the memorandum. • Address proof of customers. • Identity proof of customers. • Sample signature in Form Inc.10. • Pan Card. • NOC if there is any change in the name of the promoters after the name approval. • Board resolution authorized for membership of MOA. • Any other attachments, if any. Registered Office Form INC 22 is to be filed for the status of the company's registered office with the following attachments: • Rent agreement / lease deed. • No electricity bill more than 2 months old. • NOC on the promoter's letterhead to use the compound. Appointment of Directors For the purpose of appointment of directors it is necessary to file DIR 12 with the following attachment: Notify consent dir 2 to act as director. Certificate of Incorporation After pleasing and agreeable the forms filed with the ROC, the registrar will issue a certificate of incorporation with a unique company identification number. Penal provision If the company fails to comply with the provisions of this section, the company shall be punishable with a fine which shall not be less than one million rupees, but which may be increased to one crore rupees and in default the directors and officers. Will be punishable Imprisonment for a term which may carry a sentence of three years or fine which shall not be less than twenty five thousand rupees and which may be increased to twenty five lakh rupees or both.

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How to register NGO under section 8 Company

How to Register NGO under Section 8 Company Registration

Indian Trusts have no central law; Indian Societies have distinctive legitimate and institutional structures from state to state while Section 8 organizations have one uniform law the nation over – Companies Act, 2013. It is this strong Act that directs the arrangement, the board and responsibility of a Section 8 Company, consequently making it more firmly managed and checked than trusts and social orders, and perceived everywhere throughout the world.

A Non-benefit Company or Section 8 Company is a Company which:

Has in its objects the improvement of business, art, science, sports, education, research, human welfare, religion, charity, protection of environment or any such other object;

Aims to apply its profits, if any, or other income in raising its objects.

It aims to prohibit the payment of any dividend to its members.

Process manner for the incorporation of section 8 company below corporations act, 2013.

1. Application for organization  name availability in form RUN

application for name availability ought to be made in the “reserve unique name” facility. The name of phase 8 agency shall encompass the words foundation, discussion board, association, federation, chambers, confederation, council, electoral considerations, and the like, etc. You can propose most 2 names at a time and 1 resubmission is permitted in the run facility. Prices for a run is Rs. 10,000. To the proposed company, it is advisable to attach an object clause.

2. Preparation of a memorandum of affiliation and articles of association

memorandum of affiliation is the charter of the corporation and defines the scope of its venture. An article of association of the organization is a document that regulates the internal authority of the company. Memorandum of association of segment eight enterprises ought to be in form inc-13 at the same time as there is no layout prescribed for articles of association for section 8 Company You'll adopt table f provisions. Memorandum and articles of association of the organization shall be signed by using each subscriber to the memorandum who shall point out his call, cope with, description and profession, if any, in the presence of at the least one witness who shall attest the signature and shall likewise sign and add his call, deal with, description and occupation.

3. Application in form inc-12

after approval of the name via CRC, you could make a utility in form inc-12 to the registrar for a license below sub-section (1) of phase eight. Fees for inc-12 is rs. 2,000/-

attachment of inc-12

a) Memorandum of association in form inc-13;

b). Articles of affiliation; (no exact format)

c) Statement in shape inc-14 with the aid of cs/ca/CWA in practice, that the draft memorandum and articles of affiliation have been drawn up in conformity with the provisions of section eight and rules made thereunder and that all the requirements of the act and the rules made thereunder referring to the registration of the employer beneath phase 8 and subjects incidental or supplemental thereto were complied with;

d) The announcement by every one of the individuals making the utility in shape inc-15;

e.)An estimate of the future annual profits and expenditure of the employer for the next three years, specifying the sources of the income and the objects of the expenditure;

f) approval letter acquired from CRC

these are the necessary application  INC-12. It is prudent to join note on work proposed to be attempted by the Company after consolidation and Grounds of utilization for the issue of a permit under section 8 company registration.

When the structure INC-12 will be endorsed, License under area 8 will be given in Form INC-16 which required to be joined in structure SPICe.

4. Documenting of SPICe 32 Form

In the wake of getting Central Government endorsement i.e endorsement of structure INC-12, one may proceed with recording of structure SPICe 32.

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How to Registration as NGO – Section 8 Company Certification

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Registration business as Nidhi Company, A Nidhi Company is fashioned and formed on the whole and essential for the motive of encourage as the hopeful savings as well as or as in the good health abstinence or the prudence in the middle of or in the surrounding its members. This business and concern is registered and listed beneath and below or lower than the Companies Act, 2013 and is direct, administer, and supervise, as per the RBI’s course of action and the guiding principle. All the communication or the connections are performed by the company’s and the business and the commerce the members only. The word “Nidhi” in Nidhi Company means “treasure” and it originates from the Hindi vocabulary. FEATURE AND ADVANTAGES TO REGISTER A NIDHI COMPANY:- 1. SEPARATE LEGAL ENTITY: Nidhi Company is a separate legal entity that can acquire assets and incur debts in its own name. 2. NO EXTERNAL INVOLVEMENT: Nidhi Companies take funds from their members and further provides loans to their members only. All transactions are done within this group only. So, no external factors are affected by the working of these companies. 3. LOW CAPITAL REQUIREMENT: There is minimum capital paid up capital requirement of Rs. 5 lakh for registration of Nidhi Company. 4. EASY ACCESS OF PUBLIC FUNDS: The members can take loans from the Nidhi Company at a cheaper rate than loans from banks and Financial Institutions and the process of obtaining loan are much more convenient and quicker. 5. LESS REGULATIONS: Nidhi companies are governed under the Nidhi Rules, 2014 only. Ministry of Corporate Affairs is the regulating authority controlling the activities and operations of Nidhi. MINIMUM REQUIREMENTS TO REGISTER NIDHI COMPANY 1. UNIQUE NAME OF COMPANY: The proposed name of the company should be unique one and should not be similar or resemble with an existing company or LLP or Registered Trademark or Trademark applied for. 2. CAPITAL REQUIREMENT: There is no requirement of minimum Paid up capital to register and listed a Nidhi Company. Investment can be made as per requirements of business. 3. MINIMUM SEVEN PERSONS: A Nidhi Company can be registered by at least seven persons, who shall act as the shareholders and Directors of the company and out of which at Least One director must be resident in India. 4. MAIN OBJECTS OF THE COMPANY: Main Objects of Nidhi Company shall be cultivating the habits of savings among its members, lending and borrowing money to its members. DOCUMENTS REQUIRED TO REGISTER PUBLIC COMPANY • Photograph of All Directors and Shareholders • Self attested Copy of Address Proof  viz. Bank Statement/Electricity Bill/Mobile Bill/Telephone Bill, any one • Pan Card of All Directors and Shareholders • Rent Agreement/Ownership  Documents and Utility Bill of the Registered Office of the Company • ID proof viz, Adhar Card/Voter ID/DL/Passport, any one of All Directors and Shareholders • E-mail ID/Mobile No/Place of Birth/Educational Qualification/Duration of Stay etc.

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Section 8 Company Registration Consultants in India | JR Compliance

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A Section 8 company's transformation into a public company

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