Earlier known as section 25 Companies, section 8 Companies are those companies which are incorporated with the objective of promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any such other object and intends to apply its profits, if any, or other income in promoting such objectives and no amount shall be distributed as dividend among its members.
Checking the name availability of the Company and applying to ROC for obtaining the approval of the name.
Applying for the DIN and digital signatures of the Directors of the Company.
Drafting of the Memorandum and the Articles of association of the Company
Apply to MCA for section 8 licence for the Company and publishing a notice in newspapers regarding the same.
Filing/ E-filing of the all the relevant documents with the ROC and obtaining the Certificate of Incorporation of Company
As per the provisions of the Companies Act 2013, there is no minimum capital requirement to establish section 8 company.
Minimum of 2 directors shall be required for section 8 companies.
Section 8 company is incorporated for the promotion of commerce, art, science, sports, education, research, social welfare, religion, charity, protection of environment or any other similar object.
No, section 8 company does not need to comply with all the provisions of the Companies act. There are several exemptions given to such companies with regard to secretarial and other forms of compliances.