Section 8 Company
"Social Good, Sustainable Future – Register as a Section 8 Company!"
Overview of NGO:
NGO (Section 8 Company) has been incorporated with the objective of promotion of arts, commerce, charity, education, protection of the environment, science, social welfare, sports, research, religion, etc. and intends to apply its profits, if any, in promoting its objects. The Government grants these companies an exclusive license under Section 8 Companies Act. Section 8 Company is registered under the Ministry of Corporate Affairs.
Likewise, trust or society, a Section 8 Company also provides many advantages like improved members’ reach, better legal standing, credibility, and transparency of donations received, etc.
With the help of experts at ValuExpert, you can easily register your Section 8 Company without any hassle.
The process of incorporation is online and it takes 8-10 working days from the date you give your complete documents to us and subject to the availability of the proposed name.
Benefits of NGO:
Following are the major advantages of Section 8 Company:
a) No Minimum Capital requirement:
Section 8 company can be incorporated with zero paid-up capital.
B) Separate Legal Entity:
Section 8 Company is a Separate Legal entity in the court of law. Section 8 Company also holds its own identity like other companies' structures and has a separate legal standing from its member.
c) Credibility and Existence:
A Section 8 Company has more credibility as compared to any other Non-profit organization structure be it a Trust or Society. A Section 8 Company also has perpetual existence.
d) Stamp Duty Exemption:
A section 8 Company is exempted from the payment of stamp duty applicable for registration.
e) Tax Exemption:
Various tax exemptions are provided to Section 8 Companies, specifically to the donors who are contributing to Section 8 Companies, they can claim the Tax exemption against the donation they made to a Section 8 company.
Pre-registration Requirement:
1) Unique Name:
Unique Name for the Company which should not resemble with existing name of the Company and trademark.
2) Director & Shareholder:
A Section 8 Company can be incorporated with of Two Directors and Two shareholders.
3) Registered Office:
Registered office for the Company can be residential or commercial and it can be rented.
4) Capital Contribution:
a) Now there is no minimum paid-up capital requirement for a Section 8 Company.
b) Authorized capital is the maximum number of shares which the company can issue to its shareholder. It would be best if you prescribed the authorized capital in MOA and AOA during its incorporation.
Process of Registration:
1) Share Documents:
Our experts will call you and get a free consultation on the name of the company, capital contribution by the shareholder, and documentation required for new company registration.
2) Name Reservation:
Our expert would make a name reservation with the authority so that the company name is reserved.
3) Apply for DSC:
The next step is to apply for a digital signature Certificate. It is used to digitally sign the e-forms.
4) Filing of Incorporation e-form:
Our expert will file the incorporation e-form which is the final step in getting your Section 8 Company Registration.
5) Section 8 License:
After processing the application by the Regional Director, the License under section 8 will be issued.
6) Certificate of Incorporation:
After processing the application by MCA the certificate of incorporation is issued by the authority.
Documents required for Registration:
1) From Directors and Shareholders:
a) Scanned copy of PAN card & Aadhaar Card.
b) Pass-port-sized photographs.
c) Identity Proof (Scanned copy of Voter ID/ Driving License/Passport)
d) Address proof (Scanned copy of Utility Bill – electricity/water/mobile), make sure that the address proof is not older than 2 months
e) Mobile No. & Mail ID
2) For Registered Office:
a) Rent Agreement or the Lease Deed or the Sale Deed of the place being used as Registered Office; or,
b) Address Proof of the Registered Office (electricity Bill), make sure that the address proof is not older than 2 months.
c) No-Objection Certificate (NOC) signed by the actual owner of the Property.
(Important note: 1) All above proof must be self-attested. For the foreign nationals, all documents must be apostilled or notarized and scanned passport copy is mandatory.)
