Section 8 Company (NPO) Registration
The notion of incorporating a non-profit making company in India is not new at all. It is mentioned in section 8 of the Companies Act 2013, which is also known as Section 8 Company. The main motto of such companies is to encourage environmental protection, religion, social welfare, research, education, art, sports and encourage science and in other areas where profit doesn’t matter.
As far as its structure is concerned, it acts like a trust, society or is registered under the Central Government’s Ministry of Corporate Affairs. Any non-profit organization is a company if:
- It has its ideas and objects to promote commerce, art, science, sports, education, research, social welfare, religion, charity, protection of the environment, etc,
- Has intention to use its income and other finances to achieve its aim and
- Has the intention to thwart the payment of any dividend to its members.
- We make it easier for our clients to transform their organization into a section 8 company by helping with all necessary professional and legal support. We have well-trained legal experts that will help you see your business dreams turning into a reality.
Frequently Asked Questions
WHAT IS DIGITAL SIGNATURE CERTIFICATE AND WHY IS IT REQUIRED FOR COMPANY INCORPORATION?
Digital Signature Certificate (DSC) as the name suggests it is a digital signature of an individual and it is required for filling the e-forms of company incorporation electronically to Ministry of Corporate Affairs
WHO CAN BECOME A DIRECTOR OF A SECTION 8 COMPANY?
The Director required to be above 18 years of age and must be a natural person. He may or may not be citizen or residence of India. We can say that even foreign nationals can be Directors in Indian Section 8 Company.
WHAT IS THE MINIMUM LIMIT OF DIRECTORS TO FORM A SECTION 8 COMPANY?
In case of Section 8 Company, minimum no. of director is two.
HOW MUCH MINIMUM CAPITAL REQUIRED TO FORM A SECTION 8 COMPANY?
In case of Section 8 Company, minimum capital required is Rs.1,00,000/-.
WHAT IS MEMORANDUM OF ASSOCIATION & ARTICLE OF ASSOCIATION?
MOA & AOA of the company defines all the rules and regulations and the working flow of company. It also defines everything about the company’s objects, capital, identity, goals and working pattern. After the name of the company is select the Memorandum of Association and Articles of Association of the company is required to be drafted, the last page of the MOA and AOA is known as subscriber sheet which need to be filled in by the promoters in their own hand writing including their personal details and shareholding ratio.
DO PROMOTERS HAVE TO BE PRESENT PERSONALLY TO INCORPORATE A COMPANY?
Yes, promoters need to be present to personally meet us at our office or meet at any place for the registration of a Company. All the incorporation documents required to be present in original and scanned copy also required to submit.