For a Section 8 Company Registration, our team of experts will take care of every requirement and complete the process within the stipulated time frame.Right from collecting the documents, getting approvals and till the final step of the registration process, you can count on us.
A Section 8 company under the Companies Act, 2013 or a Section 25 Company as per the Companies Act,1956 is an organization registered with an objective of promoting the fine arts, science, literature, or knowledge sharing for a purposeful matter or for charity. These are the limited companies established under the Companies Act. The grants these companies an exclusive license under Section 8 Companies Act. There are three main conditions for granting the license is.
The following are the advantages of incorporating a Section 8 company over other modes of registering an NGO:
The main purpose of establishing a company as a Section 8 company is to promote non-profit objectives such as trade, commerce, arts, charity, education, religion, environment protection, social welfare, sports, research, etc. The profits/incomes of the company if any, are applied towards promoting the objectives of the company and are not distributed as dividends to its shareholders.
A minimum of two directors is required if the Section 8 company is to be incorporated as a private limited company, and a minimum of three directors in case of incorporation as a public limited company. The maximum number of members is 200 in case of a private limited company, whereas for a public limited company, there is no such limit.
Also, there is no requirement of minimum paid-up capital in case of a Section 8 company.