Documents for Section 8 Company Registration
Following documents are required for Section 8 Company registration:
- PAN Card of the Directors and Shareholders
- Aadhaar Card
- Latest Bank Statement
- Telephone Bill or Electricity Bill
- Voter ID or Passport or Driving license
- Passport size photograph of all the directors and shareholders
- Copy of the Rental agreement, in case the property is on rent for the registered office
Section 8 Company Registration Eligibility Criteria
Eligibility criteria for a Section 8 company registration are as follows:
- An Individual or HUF or limited Company is eligible to start a Section- 8 company registration in India.
- Two or more person who will act as a shareholder or Director of the company should fulfill all the requirements and compliances of the Section 8 Company registration.
- At least one of the directors shall be a resident of India. However, a firm may be a member of the company registered under this section.
- The objective should be the promotion of sports, social welfare, the advancement of science and art, education and financial assistance to lower income groups.
- The surplus generated must be used for meeting the principal objective of the section 8 company only.
- Founders, members, and directors of the company cannot draw any remuneration in any form of cash or kind.
- No profit should be distributed among the members and director of the company directly or indirectly
- The company should have the clear vision and project plan for the next three years.
Requirements for online registration of Section 8 Company
For registering a Section 8 company, the following criteria must be fulfilled:
Governed by:Companies Act, 2013.
Members:Minimum of 2 Directors/Shareholders.
Important Documents:MoA, AoA and financial statements.
Property management:All the properties belonging to a company are vested in the name of the company. These can be sold in conformity to the provisions mentioned in the Companies Act, 2013. The Act says the sale can be done with prior consent of the Company Board of Directors, when they pass a resolution regarding the same.
Closure or winding up:The property and funds of the society, upon its dissolution ( as per the society by-laws) and settlement of all liabilities & debts, may not be equally distributed among the company members. Rather, the same can be transferred or given to some other company, preferably with similar objects.
Annual compliance:The company must ensure its annual compliance by filing its annual returns and annual accounts with the RoC.
DSC and DIN of the Directors.
Objectives and proposed work of the company.
Financial statements like assets and liabilities, the projection for five years etc.
Directors personal documents.
Registered office address documents viz. rental agreement or sale deed in the name of the company, utility bills not older than two months.