Section 8 Company registration refers to the process of incorporating a nonprofit organization under Section 8 of the Companies Act, 2013 in India. Section 8 Companies are formed with the objective of promoting charitable or nonprofit activities such as education, arts, science, religion, social welfare, etc., and are prohibited from distributing any profits or dividends among its members.
Here are the steps involved in registering a Section 8 Company in India:
- Name Reservation: The first step is to choose a unique name for the company and submit it for reservation through the Ministry of Corporate Affairs (MCA) online portal. The name should reflect the objective and purpose of the company.
- Memorandum of Association (MOA) and Articles of Association (AOA): Draft the MOA and AOA, which define the objectives and rules of the company. These documents need to be prepared in accordance with the provisions of the Companies Act, 2013.
- Digital Signature Certificate (DSC): Obtain DSC for the proposed directors of the company. A DSC is necessary for signing the electronic documents during the registration process.
- Director Identification Number (DIN): Each proposed director must apply for a DIN, which is a unique identification number issued by the MCA. This can be done online by submitting the required documents.
- Filing of Forms: Prepare and file the necessary forms, including the application for incorporation, along with the MOA, AOA, and other required documents. The forms should be filed with the Registrar of Companies (ROC) in the state where the registered office of the company will be situated.