Section 8 Company is also termed as the Non-Profit organization(NPO) which is established to promote art, science, commerce, religion, charity or any other advantageous object, provided the profits if any. Other revenue is utilized for supporting & promoting of objectives of the company and its members do not get any benefit.
It depends on the type of Company you are registering, in case you are registering a Private Company then only two members are required and if it is a Public Limited Company then it should have seven members.
Yes, definitely it is permissible to convert Section-8 Company into Private Limited Company and related options are available for the same.
It is a complicated process but with the help of Businessgig it is much easier. It takes only 15-25 working days to register a Section 8 Company after the documents are submitted.
For Registered Office Address
Yes, an NRI can register a Section-8 Company provided all the documents required are submitted and notarized by the professionals.
It is important to have objects with non-profit motive, and then it can be registered as Section-8 Company.
No, certainly it is not permitted to apply INC-29 for Section-8 Company. The reason is Section-8 Companies need to get license from the RD and INC-29 facilities are not suitable for this specific company.
The registration under Companies Act, 1956 is unchanging in nature and provides continuous existence. Under extreme conditions, such companies can be reimbursed. The government is the official liquidator of Corporations.
Laws that are regulating the Cooperative Societies in India are as follows;
Yes, Corporate Social Responsibilities (CSR) is a part of all companies and similar to Section 8 Company it has non-profit related objectives.
To register Section 8 Company no paid-up capital is required. This is mentioned under sub section 6 of section 3 as per Companies Act, 1956.
There are various privileges and exclusions under the Company Law.
The following are the requirements
The main objectives of Section 8 Company must ensure that it is related apply its profits (if any) in promoting and supporting the objectives. It should not provide any benefit/fund to its members. The objects to be promoted includes;
Minimum two people are required to register a section 8 company.
Yes, there should be an office of the company having located in India. The office property can also residential, commercial or industrial where communication from the MCA will be received.
No, personal presence is not required to incorporate a section 8 company. All the documents can be scanned and sent through email. Some documents will also have to be couriered to our office.
Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of up to 20 years.
The Director needs to be over 18 years of age and must be a natural person.
Yes, a NRI or Foreign National can be a Director in a Section 8 Company after obtaining Director Identification Number. However, at least one Director on the Board of Directors must be a Resident India.
Doing Business Is Easy & Fast.
You simply won’t find another vendor that can match our value proposition. Our customers often tell us the same thing. We make every effort to provide our customers with great products and services, and we work just as hard to make sure they are getting the right business model that fits their needs. We promise the same to you.
We place highest importance to providing extra ordinary customer Support.
When it comes to the numbers, you might get a million query in your head. Do not worry! Our dedicated support team loves to assist you with anything. Just give us a buzz and we would happy to answer all of your queries..
We know how expensive finance experts and designers can be. Businessgig provides best of the both at an unimaginably low price. We harness the power of technology and have pushed a lot of our work to digitization. This saves us a lot of time and we happily pass on the benefit to our customers.
A Pricing structure designed for your every need. Our business package will free you from charges for every service. We provide best in class services at reasonable charges through latest technology, experience and expertise. .
Alone we can do so little, together we can make wonders. So lets team up and grow together. You would have heard the phrase ‘Making mountains out of molehills’; but here we do what we do best-making molehills out of mountains.
We enjoy the reputation of being synonymous with professionalism, efficiency, and excellent service. We provide full spectrum of financial, accounting, designing, marketing services as well as investment consultancy, project evaluation and services related to all types of business and corporate agreements. We specialize in providing end to end support to startups – be they proprietorship’s, partnership’s, LLP’s, or Private Limited Enterprises. Our knowledge of the Indian ecosystem makes us perfectly placed to provide end-to-end assistance with company formation in India as well as company registration in India.
Enter your email address to subscribe and receive notifications by email.
We hereby promise to be responsible emailers.