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INCORPORATION OF LLP

SECTION 8 COMPANY | LLP

Rs. 12499/-
SECTION 8 COMPANY
What you get
  • 2 Digital Signature
  • 2 DIN
  • 5 Copies (MOA + AOA)
  • PAN Card + TAN Card
  • Authorized Capital: 10,00,000
Rs. 6499/-
LLP
What you get
  • 2 Digital Signature
  • 2 Designated Partners
  • LLP Agreement
  • PAN Card
  • Authorized Capital: 100,000

How much time will it take?

9-10 Days



Obtaining DSC of All the Subscribers (1 working day)

Reservation of Name (2 – 3 working days)

Filing of Application for Grant of License (INC 12) (No time can be prescribed as it depends on concern RoC)

Filing of Incorporation Documents ( Form INC 32, Form INC 33 E-MOA and Form INC 34 E-AOA) (2 working days provided all the documents and payment is received)

Issue of Incorporation Certificate (3 working days from the date of filing of incorporation documents)

Note: Above mentioned time is tentative and standard. In actual above mentioned time may vary depending on the processing of documents by official of Ministry of Corporate Affairs.

SECTION 8 COMPANY

Section 8 Company is a company governed under Section 8 of The Companies Act, 2013. It is registered for charitable or non-profit purposes, which makes it similar to trusts and societies except that trusts and societies are governed under State government regulations whereas Section 8 companies are registered under the Central Government’s Ministry of Corporate Affairs.The main objectives of such companies are promoting research, religion, charity, commerce, art, science, sport, education, social welfare, protecting the environment or any other related subject.

Advantages

  • It is comparatively easy to form a Section 8 Company.
  • No minimum capital required.
  • More flexible.
  • Section 8 company is relieved from Stamp Duty Registration.
  • Any registered can also be a member.
  • Time duration of Section 8 company registration can reduce, if in case the Regional Director approves the application earlier.

Features

  • Section 8 Company requires minimum 2 shareholders and 2 directors.
  • Directors and Shareholders can be the same person.
  • One of the directors must be an Indian resident.
  • No minimum capital required.
  • Higher credibility amongst the donors, Government departments and other stakeholders as compared to trusts and societies.
  • Section 8 Company restricts that the profits earned or any other income is used for promoting the objectives of the company, also no dividend is paid to the member.
  • Company Incorporation rules, procedure involved, requirements generally depend on the type of company to be incorporated.

Frequently Asked Questions



Answer

Purpose to register section 8 company is to promote commerce, art, science, sports, education, research, social welfare, charity etc and the profits earned by section 8 company will not be distributed as dividend among the members.

Answer

Section 8 company will be either registered as Private Limited Company or Public Limited Company. Minimum members requirement will be same as of for private or public limited company i.e. Two for private limited company and Seven for public limited company.

Answer

Minimum authorized and paidup share capital requirement will be same as of for private or public limited company i.e. Minimum One Lakh authorized in case of private limited company and Five Lakh in case of public limited company. There is no limitation on minimum paid up share capital provided it can not exceed authorized share capital any point of time.

Answer

Section 8 Company should have specific words i.e. Foundation, Centre, Forum, Cell, Federation etc. For example- Krishna Social Help Foundation.

How much time will it take?

9-10 Days



Obtaining DSC of All the Subscribers (1 working day)

Reservation of Name (2 – 3 working days)

Filing of Incorporation Documents (Form LLP 2) (Two working days provided all the documents and payment is received)

Issue of Incorporation Certificate (Three working days from the date of filing of incorporation documents)

Filing of LLP Agreement (Form LLP 3) (Two working days provided all the documents and payment is received)

Note: Above mentioned time is tentative and standard. In actual above mentioned time may vary depending on the processing of documents by official of Ministry of Corporate Affairs.

LLP

A Limited Liability Partnership or LLP is a corporate entity which is regulated under the Limited Liability Partnership Act, 2008. It is best suited to small and medium-sized businesses. It is a form of partnership which limits the liabilities of some or all of its partners. It is therefore operated in a flexible, innovative and efficient manner, as a hybrid of companies and partnerships providing the advantages of limited liability and at the same time granting its members the ease of organizing its internal structure as a partnership.

Advantages

  • Any one partner is never responsible for the misconduct of other.
  • It costs less to incorporate an LLP as compared to a Private Limited Company.
  • Incorporation process for an LLP is easy.
  • Simple Compliance formalities.
  • No limit on maximum number of partners.
  • Exhibits the features of both partnership firm as well as that of a company.
  • LLP as a whole is not required to file taxes, only partners need to file tax individually.
  • Audit is not mandatory, if the turnover is less than Rs 40 lakhs and capital contribution being less than Rs 25 lakhs.
  • Ownership of an LLP can be easily transferred to other person, simply by introducing the person as a partner.
  • Continued existence until and unless it is legally dissolved.

Features

  • According to LLP Act 2008, a minimum of 2 members are necessary to incorporate an LLP but there is no restriction on maximum number of members required.
  • Partners of LLP have the rights to manage the business directly, which is prohibited to Private Limited Company shareholder.
  • It also provides Limited Liability protection for the owners from the debts of LLP.
  • In LLP, at least one partner needs to be an Indian citizen and resident in a previous calendar year.
  • Whole Incorporation process for an LLP is online, thus not requiring physical presence for completion of the procedure.
  • An LLP is not capable of issuing equity shares, so LLP should be preferred for businesses that have plans for raising equity funds during their lifecycle.
  • LLP limits the liability of its partners.

Documents Required

Photograph

Latest passport size photograph.

Directors PAN

Scanned copy of PAN Card of all directors.

ID Proof

Scanned copy of Voter ID/ Passport/ Driving License.

Directors Address Proof

Latest Bank statement/ Utility bill in the name of director which should not be older than 2 months.

Company Address Proof

No Objection Certificate (NOC) from the owner, Utility bill (should not be older than two months) and Notarized Rent agreement (in case of rented property)/ Registry Proof or House Tax Receipt (in case of owned property).

Get Your Dream Registered

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Contact Us

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+91 6395-7467-84

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