Features of Section 8 Company
- Director : Minimum two directors, at least one Director should be Indian resident.
- Member: Minimum two shareholders. Note :(Shareholders and Directors can be same).
- Registered Office Address Proof (Rent agreement if the premises is not owned by the company)
- Capital : There is no need of a Minimum paid-up Capita.
Advantages / benefits of Section 8 Company :
- A partnership firm can become a member of Section 8 Company registered under the Companies Act.
- Limited Liability.
- A Section 8 company does not require performing as many legal formalities as a public or private Company.
- No minimum share capital required.
- Transferable Ownership.
- T Separate Legal Entity.
- Stamp duty registrations are also exempted.
- Tax benefit.
- Credibility.
- Minimum Documentation and formalities for taking loan.