Section 8 Company registration involves a non-profit organization that is incorporated to promote certain activities such as education, sports, science, religion, research, social welfare, cultural activities, and other goals with similar objectives. The revenue generated from this company is utilized to promote instead of distributing it amongst the company’s members like a private or public limited company or any other type of business.
For incorporating a company under Section 8 of the Companies Act 2013, there is a requirement of a minimum of two directors in the case of private limited companies and three directors in the case of public limited companies. No minimum paid-up or authorized capital is required for a Section 8 Company registration. This write-up will focus on the key objectives and benefits of a Section 8 company and the process for registering a Section 8 company.