Section 8 Company
Empowering Your Social Impact: Section 8 Company Formation
At JMS Consultancy, we understand the power of collective efforts to bring about positive change in society. Our NGO formation services encompass the establishment of Section 8 companies, a unique legal structure designed specifically for non-profit organizations with charitable objectives. With our expertise and comprehensive support, we can guide you through the entire process, enabling you to establish a Section 8 company that effectively serves your philanthropic vision.
Understanding Section 8 Companies
A Section 8 company, also known as a not-for-profit company, is a legal entity established under the Companies Act 2013 with the primary objective of promoting charitable causes. Unlike other organizations, Section 8 companies do not distribute profits to their members but reinvest them to achieve their charitable goals. Here are some key objects of a Section 8 company:
- Fostering the growth of art, culture, education, science, and sports
- Enhancing social welfare through progressive activities
- Ensuring access to healthcare facilities, sanitation, and clean water
- Alleviating poverty and fostering rural development
- Championing technology-driven solutions for social development
Essential Criteria for Establishing a Section 8 Company
To establish a Section 8 company, certain minimum requirements must be met. We ensure a seamless process by providing you with expert guidance and support. Here are the essential requirements for a Section 8 company:
- A Section 8 company necessitates the presence of two shareholders and two directors at minimum.
- To comply with regulations, it is mandatory for at least one director to be an Indian resident.
- A Section 8 company does not impose any minimum capital requirement, allowing flexibility for financial arrangements.
- The company’s objectives and regulations are documented in the Memorandum of Association (MOA) and Articles of Association (AOA).
- Prior to establishment, an application for a license must be submitted under Section 8 of the Companies Act, 2013.
- A crucial declaration is required, affirming the commitment to utilize any profits earned solely for charitable purposes.
Join the Movement: Create Your Section 8 Company Today
Are you ready to create a lasting impact on society? Take the first step by establishing your Section 8 company with JMS Consultancy. Our dedicated team of experts will assist you in navigating the complexities of the formation process, ensuring compliance with all legal requirements and providing ongoing support. Together, we can empower your vision and bring positive change to communities in need.
Having Queries?
If you have any questions about JMS Consultancy, let us know. We will be happy to assist you in 24 hours.
E-mail: info@jmsconsultancy.com
Phone: +91- 9999674040