What is Section 8 Company?

A Section 8 company is a special kind of organization that is all about doing good things for the community. It’s like a non-profit group that the government allows to be created. These organizations have specific goals, like helping with education, charity, or the environment. To start a Section 8 company, you first need permission from the Central Government. Once you have that, you can apply to become an official Section 8 company, and you must stick to the goals you set when you started.

The main features of a Section 8 company are that it’s here to do good, it has special goals, the government gives it the green light, and you can register it online quickly and affordably.

Application Requirements for Section 8 Company Registration

• Trustees (Members): You must have at least two people who will be part of the company.
• MOA and AOA: You’ll need to create two important documents that explain what your company is all about. These documents are like the company’s rulebook.
• Declaration: A legal expert (like a lawyer or a financial expert) will need to confirm that your MOA and AOA are set up correctly.
• Future Income Plan: You’ll have to show how you’ll get money and what you’ll use it for in the next three years.
• Individual Declarations: Each person involved needs to make a formal statement.

Other important things to know:

• If you want to register your Section 8 company as a private limited one, you’ll need at least 2 directors.
• If you’re going for a public limited Section 8 company, you should have at least 3 directors.
• One of these directors should be a resident of India.
• You’ll need to have an official address for your company.
• Your company’s main goal should be something good for the community, like charity or social work.
• And remember, any money your company makes can’t be shared among the owners. It’s all for the company’s goals.

Documents Needed to Register a Section 8 Company

• For Directors (People in Charge):
  • Passport-sized photos of the directors.
  • Copies of their Aadhar Card and either their Driving License or Voter ID.
  • Copies of their PAN Card.
  • A copy of the latest bank statement or utility bill to prove their address.
  • A No Objection Certificate from the property owner if the office is rented.
  • Mobile No. and Email ID
• For Registration:
  • Know Your Customer (KYC) documents for the people starting the company.
  • Proof of the company’s official address.
  • PAN, Aadhar, and address proof for the company.
  • Colored photos of the directors.
  • A No Objection Certificate from the property owner.
  • Some extra documents needed for getting the Section 8 License are the INC-12 Form, the MOA & AOA (documents that explain how the company will work), a professional’s declaration (INC-14), and a director’s declaration (INC-15).