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Section 8 Company Registration
Section 8 Company Registration Online
- Work handled by professionals
-Suitable for charitable and other non-profit activities
- Completely online process
- Get your NGO Registration at an affordable cost
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What is a Section 8 Company Registration Online?
A Section 8 Company Registration Online is established in order to encourage and nourish the act of arts, commerce science, sports, education, research, social welfare, religion, charity, protection of environment or any such other objective. The Section 8 companies fall under the Companies Act 2013 which would be registered as an Non-Governmental Organization. A company registered as Section 8 company cannot share profit made as a result of the charitable activities between its partners. The profit made during the functional part must be invested back into the company to promote trust and non profitable activities to give back.
A Section 8 Company is a type of corporation established to promote non-profit activities, such as education, social welfare, environment preservation, arts, sports, charity, and more. This follows the provisions of the Companies Act 2013.
The essential purpose of registering a Section 8 Company Registration Online is to encourage non-profitable goals, including but not limited to trade, arts, commerce, education, charity, environmental protection, sports research, and social welfare. To Section 8 Company Registration Online, a minimum of two directors are required, and there is no requirement for a minimum paid-up capital to set up such a company.
Other than the process of how the money dealt with made as a profit i.e cannot be kept as shares or cannot be distributed among the people who incorporated the actual company, rest of the processes remain the same. For the incorporation of such companies a proper licensing is required from the government’s end. The strictly must follow the rules of promoting the set object and not involve in any activities that might end up profiting the personnel involved in the incorporation.
At Unilex Consultants we provide you a hassle free registration process which would be dealt by our professionals within a time frame of 15-20 days and is subjective to governmental processing time. Our team takes care of the documentation and aids in provide you the realistic estimation of cost.
Advantages of Section 8 Company Registration Online
- Better Value
A Nidhi company scores better in terms of credibility as it falls under the central government directly unlike other mutual profit organizations. - No Stamp Duty
In the process of the Non Profitable Organisation the stamp duties are exempted by the government. No stamp duty is payable on the Memorandum and Articles of Association if a company is to be registered under these provisions. - Limited Liability
A Company is a separate legal entity. Shareholders of any Company have limited liability - Company Name Prefix Not Mandatory
It is not a rule to incorporate the name with the prefix like private limited or public limited, This helps the company to enjoy limited liability without disclosing to the public the nature of liability of its member - Perpetual Succession
A Company is a separate legal entity. It exists even after the death of the member incorporated the company. - Business Credibility
Unlike normal Partnership firms and unregistered entities, company registration gets more recognition as they are regulated by law.
Documentation for NGO Registration
Passport size Photograph
Copy of PAN Card
Copy of Electricity Bill
Sale Deed (if owned)
Copy of Aadhar Card
Address Proof
Copy of rent agreement (if rented)
NOC
What you will get in Section 8 Company
1. Digital Signatures of Directors (DSC)
2. Director Identification Number (DIN)
3. MOA & AOA
4. Section 8 License
5. Certificate of Incorporation (COI)
6. Company PAN & TAN
7. EPFO & ESIC registration
8. Bank account opening support
Process involved in registering a Section 8 Company
- Step-1: Acquire a Digital Signature Certificate (DSC)
- Step-2: Director Identification Number (DIN)
- Step-3: Name Reservation for the Company (SPICe+ Part A)
- Step-4: Submission of Company Details (SPICe+ Part B)
- Step-5: Preparation and Submission of Incorporation Forms (SPICe+ MOA and AOA)
- Certificate of Incorporation
Donations/Funding of Section 8 Company Registration Online
Section 8 Company is not allowed to raise capitals by way of deposits but they can accept donations from the general public. Below are some of the ways by which it can raise funding:
- Foreign Donations: –
Foreign donations are allowed only when FCRA (Foreign Contribution Regulation Act, 1976) registration has been taken. FCRA license can only be applied after 3-years from the date of registration. However, if some really urgent foreign donations are necessary, then you may apply for prior permission from the commissioner. - Equity Funding: –
A “Section 8 Company” can also raise funds by issuing new equity shares at a higher value. - Domestic donations: –
There is no limitation to domestic donations. But to avoid money laundering cases, a proper system must be laid down to keep them in check.
Why go with Section 8 Companies ?
- To serve the society with charitable activities.
- To Promote one or other form of arts and activities as such.
- To indulge in giving back to the community in terms of Non profitable activities.
- Promoting educational activities by making it more accessible for a common citizen.
Unique Features of section 8 company
- - The certification is issued by Ministry of corporate Affairs.
- - Name prefix is not a problem as it is not mandatory to have private or public appended at the end.
- - Profit must be reused for the purpose the company or promotion of the soul objective only.
- - Objects of a Section 8 Company must be the promotion of “Commerce, Art, Science, Education, Research, Sports, Social Welfare, Religion, Charity, Protection of Environment, or any other such object.”
- - The Company intends to apply it’s profits, if any, or other income in promoting these objects. It intends to prohibit the payment of any dividend to it’s members.
- - A Section 8 Company is created by those who do not wish to earn profit from this venture. Rather they want to dedicate themselves to improve some parts of the social structure.
Yes a registered office is mandatory for starting a Section 8 Company.
No. Rule 3 of the Companies (Incorporation) Rules, 2014 prohibits a one person company to be incorporated as section 8 company or to convert into a Section 8 Company.
Registrars of Companies of respective jurisdictions are delegated with the powers of Central government to issue license to Section 8 Companies.
The person must be of 18 years or above and can be native to any country.
A minimum of two people is required to register a section 8 company in India.
Can be used to create charitable entities.
● The main instrument of the trust is the deed, it is where the main objective and instruments are specified clearly during incorporation.
● The licensing must be done from the Government where is issued by the Ministry of Corporate Affairs.
● The Company would have profit and lose just like other incorporations, but this must all be dealt only via charitable activities.
● It is established as trust via the trust deed by the members who result to form the management.
A Non-Governmental Organization (NGO) is an organization that is independently established and operated, usually with a charitable, educational, religious, or social purpose. NGOs are usually non-profit and do not have a profit motive. A Section 8 Company is a non-profit organization formed to promote commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any other such object. Section 8 companies are allowed to generate profit but they must use their profits for the purpose of achieving their goals and not for the benefit of its members.
Yes, NRIs, foreign nationals, and foreign entities can register a company and invest in India, subject to the Foreign Direct Investment norms set by the RBI. However, incorporation rules in India require for one Indian national to mandatorily be a part of the company on the Board of Directors.
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