HomeSection 8 Company Registration - Legal Popcorn

IDEA FOR START-UPsSection 8 Company Registration

A Section 8 company under the Companies Act, 2013 or a Section 25 Company as per the Companies Act,1956 is an organization registered with an objective of promoting the fine arts, science, literature, or knowledge sharing for a purposeful matter or for charity. These are the limited companies established under the Companies Act. The Government grants these companies an exclusive license under Section 8 Companies Act. There are three main conditions for granting the license is.
    • The company should form for the charitable purpose.
    • Income and profits should be used towards these objects.
    • The company should not pay any dividend to its members.
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Requirements for online registration of Section 8 Company

Governed
In India, a non-profit organisation can be created by registering a Society under the Societies Registration Acts or registering a Trust or incorporating a Section 8 company with a not for profit motive
Approval of other authorities
The Registrar of Companies may require the applicant to furnish the approval or concurrence of any department,regulatory body, appropriate authority.
MOA & AOA submission
Once the licence is obtained, one needs to draft Memorandum of association and Articles of Associate. But the object of the company must always be a charitable object. Both MOA and AOA are filed with the MCA with the subscription statement.
Meaningful
The name of your Section 8 Company should be relevant to your business. It should fit the company’s branding strategy. For example, Infosys refers to information systems or IT technologies.
Property management
The property of the company vests in the name of the Company and the same can be sold as per the rules mentioned under the Companies Act. (Ex: With the consent of the Board of Directors in the form of a resolution).
Winding up or closure
Dissolution as per the bye-laws of the society, upon dissolution and after settlement of all debts and liabilities, the funds and property of the society may not be distributed among the members of the company, rather, the remaining funds and property must be given or transferred to some other section 8 company, preferably one with similar objects.
OUR PROCESS

From your Procedure

STEP 1Upload Documents

Upload the Required Documents & Information to our web portal

STEP 2Choose Package

Choose Package and Pay online with different payments modes available

STEP 3Identification

We will apply for Digital Signature and Director Identification Number of proposed directors

STEP 4Check Company

Reserve Unique Name (RUN) is a form filed for reserving a name for a new company or for changing its existing name.

STEP 5Prepare

Prepare MOA, AOA and other necessary incorporation documents.

STEP 6 Documents

All crucial documents like the MoA, AoA, financial statements and other declarations are filed at this stage
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BEFORE SCALABLE

Documents
Required

Minimum Required Documents For Company Registration
Identity Proof
Aadhar Card, Driving License, Election Id Card, Passport
Address Proof of Business
Electricity Bill, Rent Agreement + NOC
PAN Card
Copy of PAN Card
Photo
Passport size Photograph

IDEA FOR START-UPsSection 8 Compliances

    • A Section 8 company has to comply with the annual compliances like other companies.
    • In case of non-compliance, the company will be treated as a dormant company and it can be struck off from the register.
    • A section 8 company is also required to do the CSR compliances and the CSR must be done.
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