Section 8 Company Registration In 10 Day

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Section 8 company

Section 8 company is registered for non-profit or charitable purposes. It is registered under the central government’s “MCA (Ministry of Corporate Affairs). It has the higher credibility from the government departments, stakeholders and other donors.

As per the Companies Act, 2013, Section 8 companies can be formed either as LLP or private limited or Public. It is formed with the main objective of charitable work which means a non-profit organization without any intention of getting profit.

Its goal is to promote the education, art, commerce, social welfare, commerce, and protection of environment, human rights or any other similar kind of things.

BBS offers section 8 company registration in Madurai, Trichy, Tirupur, Karur and Coimbatore at a very reasonable cost.

Characteristics or features of Section 8 company:

The most important feature of section 8 company is that the name of the company can be incorporated without using the word “limited” or “private limited”.
There should be at least two shareholders and directors. (Shareholders and directors can be the same person).
Minimum capital is not required and there should be at least one director must be a resident of India.
The required funds are collected in the form of subscriptions and donations from the members of general public.
Since it is based on limited liability, so the members of the company are not personally affected.
It has the special privileges and exemptions under the company law and the shares are easily transferable as mentioned in the articles of association.
Article amendment can be done with the prior approval or permission from the central government; otherwise, it cannot be amended.
The company members don’t receive any dividend

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Section 8 Company Registration In 10 Day

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Section 8 company

Characteristics or features of Section 8 company: