SEC 8 COMPANY (NON-PROFIT ORGANIZATION)
In India, a non-profit organization can be registered as Trust by executing a Trust the same as Section 25 deed or as a Society under the Registrar of Societies, or as a non-profit company under Section 8 Company of the Companies Act, 2013. A Section 8 Company is Company under the old Companies Act, 1956. Under the new Companies Act 2013, as per the old Act Section 25 has now become Section 8.
As per Section 8(1a, 1b, 1c) of the Companies Act, 2013, a Section 8 company can be established for the “promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object”.
INCORPORATION PROCESS
Private limited company and Section 8 company registration procedure are very similar to each other. A minimum of two Directors are required to start a Section 8 company. One of the Director must be an Indian Citizen and Indian Resident - whereas one or more persons acting as Director can be an Indian National or Foreign National. In addition to the required number of persons, a registered office address within India would be required for the Section 8 Company. Finally, Section 8 Company would be subject to the following conditions:
- Has in its objects the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object
- Intends to apply its profits if any, or other income in promoting its objects; and
- Intends to prohibit the payment of any dividend to its members, the Central Government may, by license issued in such manner as may be prescribed, and on such conditions as it deems fit, allow that person or association of persons to be registered as a limited company under this section without the addition to its name of the word “Limited”, or as the case may be, the words “Private Limited”, and thereupon the Registrar shall, on application, in the prescribed form, register such person or association of persons as a company under this section
- The company registered under this section shall enjoy all the privileges and be subject to all the obligations of limited companies
Documents Required
Members
- PAN of all the members
- Aadhaar Card of all the members
- Valid Residential proof of all the members via Bank Statement, Driving License, Aadhaar Card, Utility Bill and Passport
- Photograph
- Digital Signature
For Registered Office
- Address Proof of the registered office of the society
- NOC from the owner of the building in which registered office is situated
- List of all the members of the governing body with their signatures
- Declaration by the society’s president that he is willing and competent to hold the stated position
Other Details
- Main Object
- Name
- Email ID
- Capital Contributed
- Ratio of share between partners
- Member’s Educational Qualifications
- Phone number
*Cost of Stamp paper as per Government rules
Deliverables
- Pre Registration Consultation
- DIN for all Directors
- Digital Signature Token for Promoters
- Company Name Approval
- MOA + AOA
- Incorporation Certificate
- New Incorporation Kit
- Customized Incorporation Master File
- Company PAN Card
- Company TAN/TDS Number
- Bank Account Opening Document Support
- Post registration consultation
