If you are planning to start non- profit Organization then opening a section 8 company is a good option as it involves several benefits within it. So here in this blog we will discuss the procedure for the registration of Section 8 Company.
Objectives of section 8 Company
Section 8 company is basically to start Non- Profit Organization into certain kind of business entity. And the objectives of Section 8 company are as following:-
- To promote science, Art, Commerce, Education, social welfare, charity, social welfare, Protection of environment or any other objective that relates to social-economical conditions of society in some shape or form.
- The profits which are generated through this business is to be used or promote the above mentioned objective.
- Its only objective is to promote business and its profits not to be distributed among its members.
Section 8 Company Registration Process
- Firstly Digital signature Certificate is to be obtained of one of the Directors of the Company.
- Then DIN (Digital identification number) is to be obtained of the proposed Section 8 Company.
- Then Name is to be Approved through RUN (Reserve Unique Name) and then submit it to the Registrar of Companies.
- The MOA ( Memorandum of association and AOA (Articles of Association) is to be submitted in which under MOA Objectives and Powers of the Company is explained where in AOA rules and regulations that are followed by NON-Profit organization/ Entity.
- Then Form INC 12 is to be filed, this form is for providing such institute a License to conduct welfare activities.
- Finally we file for Company Incorporation, by filing spice Form.
Documents which are required
- Copy of PAN Card of Director
- Any Identity Proof
- Utility Proof as Address proof for the headquarters of Company
- Passport sized photo id
- Proof of ownership of the registered office
- An NOC as well.
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