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Any person or an association of person can register a non-profit organization by forming a trust or society or a section 8 company. Any person or association of person can register a company under section 8 of the Companies Act, 2013 as a limited company by obtaining a license and adhering the following conditions:
Though, Section 8 companies are registered as a public or private limited company, they have been exempted by the Central Government from use of the word “Limited” or “Private Limited” (as the case may be) in its name. The company registered under this section shall enjoy all the privileges and be subject to all the obligations of limited companies.
Separate Legal Entity
As a juristic legal person, both the company and its members have separate legal identity that is distinct from each other.
Objects of section 8 company shall be promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object
Limited liability of members
The liability of members of a Limited Company incorporated as section 8 Company is limited to the amount of share capital remaining unpaid on the shares held by them.
Restriction on payment of Dividend
Section 8 Companies are restricted from payment of Dividend to its Members.
Needs to obtain License
Section 8 Companies can function only after obtaining License from Central Government and the same can also be revoked by Central Government.
The proposed name selected by you should be unique and should not resemble to the name of an existing company or Limited Liability Partnership.
Share Capital Share capital of a company is divided into four parts:
Directors Director is a person appointed to the Board of a company. Board of Directors of a company are entitled to exercise all such powers and to do all such acts and things as the company is authorized to exercise and do except those which are specifically required to be exercised by a company in general meeting. Section 8 Company can be incorporated as Public/ Private Company and shall have such minimum number of Directors as applicable (two in case of private company and three in case of public company).
Subscriber Subscriber means a person who has agreed to subscribe to the share capital of the company and on its registration, whose name is entered as a member in the Register of Members. Minimum seven subscribers are required to incorporate a public limited company and two subscribers are required to incorporate a private limited company. Subscribers of a company can be resident in or outside India. There is no restriction on a subscriber (being an individual) of a public limited company to be a director of the same company or vice versa. Section 8 Company can be incorporated as Public/ Private Company and shall have such minimum subscribers as applicable.
Registered Office It is mandatory for every company to have a registered office capable of receiving and acknowledging all communications and notices as may be addressed to it. Registered office of the company must be situated in India.
Obtaining requisite Documents and information
Filing of Requisite forms with ROC
Certificate of Incorporation
Note 1: In addition to the above documents, a declaration in Form INC 14 shall also be required
Note 2: *Draft will be provided by our team
Note 3: Following additional documents will be required in case the company to be incorporated is a subsidiary of another company: â€¢ Copy of resolution passed by the Parent company for incorporation of subsidiary company; â€¢ No-objection certificate from the parent company for using its name by the subsidiary company; â€¢ Certificate of Incorporation of the Parent company
At Companies Next, we have a dedicated team of professionals for providing quality services with accuracy and within given timelines. We provide a complete transparent and online platform for registration of your section 8 company. Our section 8 company registration includes: