Section 8 Company

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Section 8 Company

₹ 5000.00 8000.00

Section 8 Company generally promotes non-profit objectives such as trade, commerce, arts, charity, education, religion, etc. A Section 8 Company is the same as the Section 25 Company ( the old Companies Act, 1956) the  Section 25 has now become Section 8 ( the new Companies Act, 2013). These are limited in nature without adding the word "LIMITED" in their name.

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What is Section 8 Company?
A Company is referred to a Section 8 Company when as Non-Profit Organization (NPO) i.e. When it has the motive of promoting art, commerce, education, charity, protectithe on of environment, sports, science, research, social welfare, religion and intends to use its profits (if any) or other income for promoting these objectives.

Who are eligible for starting a section 8 company?

  • Eligibility criteria for section 8 company:-
  • Any individual or group of individuals is eligible for the formation of the company.
  • Encouraging social welfare, science, art, commerce, religion, and protection of the environment must be their objectives
  • When they intend to invest their profits in social welfare.
  • When they intend not to distribute the profits to their members. 

Documents Requirement for the Registration of Section 8 Company

  • Digital Signature Certificate
  • Memorandum of Association
  • Articles of Association
  • Passport Size Photographs
  • Members’ Id Proof such as Aadhar Card, Passport, Voter Id, Bank Statement
  • Details of Director (When the Members Are Other Companies/LLPs)
  • Address Evidence
  • Director Identification Number

  NOTE:-
Features of section 8 company Registration

  • The main aim of the company is to promote social service, promote art, science, research, protection of religion, and the environment, and work for society and not to earn profits.
  • There is no prescribed minimum paid-up capital to start the company compared to other companies' structures.
  • These companies receive funds from the public and are licensed by the central government.
  • The liability of its members is limited.
  • There is no distribution of profits among members as it is against law, the profits earned should be used for the company.
  • The company cannot use privately limited or limited at the end of its name.
  • The amendment of any article of the company cannot be made by the central government.
  • The members can easily transfer their shares or other interests to others.
  • The company must contain,
  1. Minimum two shareholders.>
  2. Minimum two directors and
  3. A single person can act as both a shareholder and a director.
  • The company enjoys a separate legal entity.
  • It is more flexible compared to other companies' structure clans come with the benefits of certain