Section 8 company is a company that is registered with the Ministry of Corporate Affairs (MCA) and regulated under the companies act, 2013, it is also known as. The application for section 8 company registration is made to the Registrar of Companies (ROC) in whose jurisdiction the office of the company is located or situated. The main objective of the company is to work for the betterment of society without the motive of earning any profits. The objective of the company is to promote or develop the society or to work for the protection of the earth, environment or any living organisms, etc. and also promote education, literature, science, arts, commerce, etc. all these activities shall be conducted without making any profit.
The central government issue the license for their social activity on certain conditions if the company fails to comply with these conditions, then the government will revoke the license. There are two ways to register a section 8 company either in form of a private limited company or as a public limited company, if it is registered as a private limited company then a minimum of 2 persons are required and 7 persons are required if it is a public company. There is no need to have any minimum capital at the time of registration neither there is any maximum limit for the company. After getting registered there are many compliances which the company has to do every year including annual compliance.
Procedure To Register Section 8 Company:
- Name Approval: Name approval is very important to start the company registration process as without a name the company cannot get registered. The section-8 company gets the exemption in using the word “private limited”, “limited”, “Pvt Ltd”, or “ltd” at the end of the name of the company, instead of these they can use association, foundation, etc.
- Digital Signature: Digital signature is also known as DSC. It is very important to sign the forms, nowadays there is no need to sign the forms physically and the registrar will accept only those forms which are signed by DSC only.
- Preparation Of Documents: After the name gets approved there are certain documents that shall be prepared and signed by the directors and shareholders of the company.
- Submission Of Final Forms: After preparation of documents the final form (Spice +) shall be prepared by filling in all the required information, and once it is prepared it shall be signed by the directors and shareholders and the same shall be filed to the registrar.
- Issuance of certificate: If the registrar is satisfied with the application they will issue a certificate of incorporation, license, PAN, TAN and DIN of the directors.
Documents Required For Section 8 Company Registration:
- Aadhar Card
- Id proof (voter id/ driving license/ passport); anyone
- Address proof (bank statement/ electricity bill/ mobile bill/ telephone bill); anyone but should be latest and not older than 2 months
Registered Office Proof
- Sale deed or other ownership document or house tax receipt if the property is owned
- Rent agreement if the property is rented
- Utility bill (electricity bill/ mobile bill/ gas bill/ telephone bill); anyone but should not be older than 2 months.
- NOC from the person whose name is mentioned in the bill
For more information visit: Registerexperts.com