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
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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.
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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.
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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.
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Incorporation, PAN, TAN, ESI AND PF- Step – 4
An application is made to the ROC office for incorporation of section 8 company, and allotment of PAN and TAN.
SECTION 8 COMPANY REGISTRATION PACKAGES
Silver Pack ₹ 24,499/-
- 7 Digital Signature (DSC) and 3 DIN
- Name Approval of the Company
- MOA & AOA + Certificate of Incorporation
- PAN and TDS number for the Company
- ESI AND PF NUMBER
Gold Pack ₹ 27,499/-
- Everything from Basic Pack +
- Bank A/c Opening Support
- GST Registration
- MSME Registration
- Dedicated Account and Secretarial Manager
Platinum Pack ₹ 35,499/-
- Everything from Gold Pack +
- Accounting for 6 months
- TDS return for 6 months
- Dedicated Account and Secretarial Manager