Section 8 Company Incorporation

Section 8 Company Incorporation

A Section 8 Company is a non-profit organization that is formed with the objective of promoting social welfare, education, arts, science, religion, charity, or any other similar purpose. It is registered under Section 8 of the Companies Act, 2013, and is governed by the Ministry of Corporate Affairs (MCA) in India. In this writeup, we will discuss the steps involved in incorporating a Section 8 Company in India.

Step 1: Obtain Digital Signature Certificate (DSC) The first step in incorporating a Section 8 Company is to obtain a Digital Signature Certificate (DSC) for the proposed directors of the company. The DSC is used to sign the electronic documents that are required for the registration process.

Step 2: Obtain Director Identification Number (DIN) The next step is to obtain a Director Identification Number (DIN) for the proposed directors of the company. The DIN is a unique identification number that is assigned to every director of a company and is required for filing the incorporation documents.

Step 3: Name Approval Once the DSC and DIN have been obtained, the next step is to apply for name approval of the proposed company with the Registrar of Companies (ROC). The name should be unique and not similar to any existing company or trademark. The name should also reflect the objectives of the company.

Step 4: Prepare Memorandum of Association (MoA) and Articles of Association (AoA) The next step is to prepare the Memorandum of Association (MoA) and Articles of Association (AoA) of the proposed company. The MoA should include the name, objectives, registered office address, and details of the subscribers to the MoA. The AoA should contain the rules and regulations for the internal management and functioning of the company.

Step 5: Apply for Incorporation Once the name has been approved and the MoA and AoA have been prepared, the next step is to file the incorporation documents with the ROC. The documents that need to be submitted include the following:

• Form INC-32 (SPICe) – Application for Incorporation of a Company
• Memorandum of Association (MoA) and Articles of Association (AoA)
• Declaration by a Chartered Accountant, Cost Accountant, or Company Secretary in Practice certifying the compliance of all the requirements of the Companies Act, 2013
• Form INC-9 – Declaration by each subscriber to the MoA
• Form DIR-2 – Consent to act as a director
• Copy of the PAN card of the proposed directors
• Address proof of the registered office of the company
• Any other documents as may be required by the ROC

Step 6: Obtain Certificate of Incorporation Once the incorporation documents have been submitted, the ROC will review the documents and issue a Certificate of Incorporation if everything is in order. The Certificate of Incorporation serves as proof that the company has been legally incorporated and is authorized to conduct its activities.

In conclusion, incorporating a Section 8 Company in India involves several steps, including obtaining a DSC and DIN, applying for name approval, preparing the MoA and AoA, filing the incorporation documents with the ROC, and obtaining a Certificate of Incorporation. It is important to follow these steps carefully and ensure compliance with all applicable laws and regulations. It is also advisable to seek the guidance of a qualified professional to ensure that all necessary requirements are met.

List of documents required for incorporating a Section 8 Company in India:

1. Digital Signature Certificate (DSC) of the proposed directors
2. Director Identification Number (DIN) of the proposed directors
3. Proposed name of the company along with supporting documents for name approval
4. Memorandum of Association (MoA) and Articles of Association (AoA) of the company
5. Declaration by a Chartered Accountant, Cost Accountant, or Company Secretary in Practice certifying the compliance of all the requirements of the Companies Act, 2013
6. Declaration by each subscriber to the MoA in Form INC-9
7. Consent to act as a director in Form DIR-2
8. Copy of the PAN card of the proposed directors
9. Address proof of the registered office of the company
10. Any other documents as may be required by the Registrar of Companies (ROC)

It is important to note that the specific documents required may vary depending on the state in which the company is being incorporated and the nature of the company's objectives. It is advisable to consult a qualified professional or the ROC to ensure that all necessary documents are submitted as part of the incorporation process.