Section 8 Company Registration

    - Suitable for charitable and other non-profit activities.
    - Work handled by professionals

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Section 8 Company Registration

A section 8 companies 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. 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

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LIMITED LIABILITY -

Limited Liability plays an major role as if anything happens to the company, the actual members are not affected and only the members who hold on unpaid shares would be liable.

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CONTINUITY OF EXISTENCE -

The company would exist in succession fashion as the governmental body treats it as a separate entity in terms of law as irrespective of the current board of members.

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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.

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TAXATION BENEFITS -

The organisation can enjoy taxation benefits as the actual company does not need to pay tax, instead it falls upon the person who makes the charitable donation to the company for limited liability.

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LIMITED COMPLIANCE -

The compliance for meetings, filings are a bit different and are not like how other private and public companies usually functions.

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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

Documentation for NGO registration

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Passport size Photograph

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Copy of PAN Card

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Copy of Electricity Bil

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Sale Deed (if owned)

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Copy of Aadhar Card

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Address Proof (Bank Statement/Mobile/Telephone Bill)

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Copy of rent agreement (if rented)

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NOC

Packages





Note:


section8company

Process involved in registering a Section 8 Company Registration

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1

Getting sorted with Digital signatures

1-2 working days

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2

Applying for the name

2-3 working days

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3

Government License

3-7 working days

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4

Filling for the incorporation

3-5 working days

Requirements for Section 8 company registration

    - There must be a minimum of 2 members to avail registration.
    - All the members must be having proof for verification as it requires licensing.
    - All the members must be having proof for verification as it requires licensing.
    - The object of the company must be defined in the trust deed. Document must be depicting and describing the objects of the its existence and its operations.
    - The trust deed should be executed on non-judicial stamp paper.
    - The valuation of trust is done based on the property the trust name holds.

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.
    - The board of directors have the decision making sets unlike trustees in a trust.

FAQs About NGO registration

Is a registered office mandatory for section 8 company ?
Yes a registered office is mandatory for starting a Section 8 Company.
Can a One Person Company (OPC) be incorporated as or convert into 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.
Who is authorized to issue license to Section 8 Companies?
Registrars of Companies of respective jurisdictions are delegated with the powers of Central government to issue license to Section 8 Companies.
What are the criteria to be eligible to be a director of section 8 company ?
The person must be of 18 years or above and can be native to any country.
What are benefits and expectations from a section 8 Company ?
● 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.

Why choose Unilex?

Well with highly qualified professionals in our team along with the technology gives edge over others, as a result highly rated professional services with full customer satisfaction is assured. We help to grow and manage your business letting you to concentrate on your business.

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