Enjoy worry-free registration for your Section 8 Company with Adviso – any time!
Section 8 Company registration involves a non-profit organization that is incorporated to promote certain activities such as education, sports, science, religion, research, social welfare, cultural activities, and other goals with similar objectives. The revenue generated from this company is utilized to promote instead of distributing it amongst the company’s members like a private or public limited company or any other type of business.
For incorporating a company under Section 8 of the Companies Act 2013, there is a requirement of a minimum of two directors in the case of private limited companies and three directors in the case of public limited companies. No minimum paid-up or authorized capital is required for a Section 8 Company registration. This write-up will focus on the key objectives and benefits of a Section 8 company and the process for registering a Section 8 company.
There are several requirements for setting up a Section 8 company, as follows:
2. Paid-up capital – In a Section 8 Company, there is no threshold for paid-up capital, and the company also should not use words like “limited” or “private limited” along with the company name.
3. MOA and AOA – The MOA and AOA of the Section 8 company should clearly state the purpose of the company. In a section 8 company, the profit earned cannot be distributed among the company members. Therefore, any profit generated from the company transactions must be utilized towards its objective or development.
4. Management of the company – In a section 8 company, the company’s management is handled by the company’s director and not by any trustee or other member.
5. Digital signature certificate (DSC) – The proposed director must digitally sign all the forms for Section 8 Company registration. Therefore, there is a need to obtain the DSC, which is granted by the government certifying agencies. The digital signature certificate required for the section 8 company is of the class 3 category.
6. Director Identification Number (DIN) – The proposed directors have to apply for the DIN allotment in form DIR3 along with some documents such as Identity verification, PAN, and Address proof in the MCA portal, which must be attested by a professional such as a CA, CS, or Cost Accountant.
Section 8 Company Registration involves requirements, document preparation, and pre and post-compliance obligations. It is essential to comply with the specific terms set by the Companies Act 2013. The incorporation of a Section 8 Company Registration can be a tedious process without professional support. That’s where Adviso comes in.
At Adviso, we provide expert services for online company registration on the MCA website. Our Lawyers, CA, and CS experts will guide you through every step of the journey to ensure your company lists smoothly and efficiently.
With Adviso’s expertise and assistance, you can easily navigate the complexities of Section 8 Company registration, saving time and ensuring compliance with all necessary regulations.
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