Section 8 Company Registration
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2. Talk To Our Expert
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Learn more about NGO/Section 8 Company Registration
NGO/Section 8 Company Registration
A section 8 company 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.
There are main conditions for granting the licenses are:
- The Section 8 company should form for the charitable purpose.
- Income and profits should be used towards these objects.
- The section 8 company should not pay any dividend to its members.
Start your own Section 8 Company in India effortlessly with ExpertPoint’s Section 8 Company registration services. Our end to end NGO Company registration package includes a personal consultation, step by step guidance, and basic compliance. Have your Section 8 company up and running in 30 days.
ExpertPoint is a leading Government Approved firm in Chennai, Tamilnadu led by well experienced Chartered accountants, Company Secretaries, Corporate Lawyers who have helped businesses become fully operational in a matter of a few days with 100% compliance.
Eligibility and Requirements
- To register a Section 8 company, minimum of two (2) persons are required to act as Directors and subscribers of the company.
- The subscribers can also be directors of the company
- Director can only be a living person
- At least one Director being a resident of India. A person is designated as a resident if he/she spends over 182 days in India in previous calendar year.
Proof for directors and subscribers:
- ID proof – PAN Card (Mandatory for Indian Nationals) and any one of the following: Passport copy, Voter’s Identity Card, valid Driving License copy.
- Address proof – Any one of the following documents shall be submitted: Bank statement , Telephone Bill / Mobile bill, Electricity Bill that are not more than two months old.
- Scanned Recent Passport size photograph in JPEG format
Proof for Registered Office:
- Proof of registered office address – No-objection certificate (NOC) from the property owner. Expert Point will provide you the format of the NOC.
- Proof of evidence of any utility service like telephone, gas, electricity, etc. depicting the address of the premises in the name of the owner or document, which is not older than two months.
- Scanned copy of sale deed/property deed in English (in case of owned property)
Other documents for Section 8 company:
- Declaration under form INC 15, from all the directors
- Declaration under Form INC 14 by the Chartered Accountant
- Estimated Income and Expenditure for the next 3 years in the Prescribed Format
No Minimum Capital Requirement
Since the purpose of an NGO is to provide non-profit services, no minimum capital has been mentioned for a Section 8 company in India. This means that the company can be formed without any share capital and the company raises funds through donations from the general public
A NGO does not have the suffix public limited or private limited next to its name. An NGOs name can include words like Association, Charity, Trust, Foundation, Academy etc.
The biggest benefit for a section 8 company is that they are exempted from paying taxes. This is due to the fact that they operate for non-profit purposes.
Separate Legal Identity
A Section 8 Company has a separate legal identity that distinguishes it from its members. Hence, a NGO will have its own PAN, bank accounts, approvals, licenses, assets, and liabilities under its own name.
Zero Stamp Duty
A Section 8 Company does not need to pay stamp duty on the Memorandum of Association (MOA) and Articles of Association (AOA) which is applicable for other company structures
Timelines and next steps
ExpertPoint can incorporate a section 8 company in less than 20 days – subject to Government processing times and availability of all documents.
Step 1 – On collecting the necessary information and documents digitally, the process for company registration begins with obtaining digital signatures for the proposed Directors and Subscribers.
Step 2 – Your ExpertPoint Engagement Manager will submit the digital signature application and generate a link to complete video eKYC verification. The applicant would then have to complete a short selfie video and verify OTP to authenticate the application. Upon approval of the application, the digital signature will be issued on the same day.
Step 3 – Parallel to the digital signature process, your Engagement Manager will also submit a name approval request to the Ministry of Corporate Affairs for approval. Please ensure that you provide multiple options for the company name that are in line with the Companies Naming Regulations in India to ensure quick approval. The Government typically provides name approval within 48 hours in India.
Step 4 – On obtaining name approval, we will prepare all the legal documents that must be signed by the Directors and Subscribers on the same day. Once you have verified the documents and signed off, we will apply for incorporation with the MCA on the same day. If the incorporation approval is approved, the Government will issue the incorporation certificate, PAN for the company and the TAN.
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