Section 8 Company is registered for the purpose of Charitable or non-profitable purposes. It is licenced under section 8 of company act,2013. The main objective of the company is for promoting research, social-welfare, religion, charity, commerce, art, science, sport, education and protection of environment and any such activities in which the profits of the company can be utilized only for the promotion of the objects of the company. The dividend is not paid to the members.
Section 8 company require minimum of 2 members and minimum of 2 directors. Section 8 company does not require a minimal capital. The company can function only by obtaining Central government licence. The government can also revoke the licence in case of any fraudulent objects are proved.
Arama can Register section 8 company within 15 to 30 days subject to ROC Processing time.