Are you looking to start a Section 8 Company in India? But do you know the most important step when a Section 8 Company is choosing a name? A good name can help you differentiate yourself from the competition, win over customers, and build a brand image. But it can be hard to come up with a name, especially considering how many businesses are in the market. In this blog post, we will know some tips on naming your Section 8 companies. We will also talk about the importance of having a good name and how to avoid making common naming mistakes. If you follow these suggestions, you can come up with a name that is original, memorable, and simple to remember.
Why is a Good Name Important?
A good name is important because it is the first thing people will see and hear about your business. A good name can help you differentiate yourself from the competition and build customer relationships and brand image. On the other hand, having a difficult name can make it tough to build a successful business. It might be hard to understand, remember, spell, and share with your audience.
Tips for naming your Section 8 Companies
Avoid using the suffixes "Private Limited" or "Limited":
The terms "Private Limited" or "Limited" must not be used as a suffix in the name of Section 8 companies. Choose a name that accurately reflects the company's mission, such as foundation, forum, association, federation, chambers, confederation, council, electoral trust, etc. The company's name should end with one of these words.
Choose a name that reflects the company's purpose:
A Section 8 company's primary goals, as stated in its Memorandum of Association (MoA), should be reflected in its name. For instance, "Nagarjuna Agricultural Research Association" and "Aware Health and Research Foundation" are two examples. An easy name is simple to spell and remember. Additionally, it facilitates people's online discovery.
Make it unique:
A distinctive name will make it easier for everyone to remember you and help you stand out from the competition.
Use keywords:
Using keywords in your name can make it easier for people to find you online and help you rank higher in search engines.
Check for availability:
It is essential to confirm the name's availability before deciding. The "Reserve Unique Name" facility is where Section 8 companies must apply for name availability.
Use appropriate words:
Section 8 companies can be registered as institutes, Academies, Associations, Foundations, Societies, Councils, Clubs, Charities, etc., that demonstrate the company's goal.
Procedure for Registration of Section 8 Company
Here's the step-by-step process for Section 8 Company Registration Online:
Check for availability of name in form RUN:
Check the availability of names on the "RUN" facility. The terms "Foundation," "Forum," "Association," "Federation," "Chambers," "Confederation," "Council," "Electoral Trust," and similar expressions are allowed in the name of the Section 8 Company registration online. A single resubmission is permitted in the RUN facility, and a maximum of two names can be proposed at once. The cost of RUN is Rs. 1000/-. Include the proposed company's object clause as an attachment. Once the name gets approved, it is valid for 20 days.
Obtaining Directors' Digital Signature Certificate:
The next step is to obtain the director's DSC under' class 3, which is necessary for submitting the incorporation form to the ROC.
Filling of SPICe 32 Form:
Once the proposed name has been approved, you can start filling out the form.
Attach the following documents with the SPICe 32 form:
The documents listed below must be attached to the SPICe form for the registration of Section 8 Company.
- Memorandum of Association in Form INC-13;
- Article the Association;
- Declaration on form INC- 14 by, in practice, CS/CA/CWA that the draft MOA and AOA have been drafted under Section 8 and its rules, as well as that all Act and its rules on the company's registration under Section 8 and any matters incidental or supplemental to it have been met;
- Declaration from each applicant in Form INC-15;
- An estimate of the company's future annual expenses and income for the next three years.
- A name approval letter from CRC;
- Form DIR-2, Consent and Declaration by the First Directors;
- Form DIR-2 containing Consent and Declaration by the First Directors;
- PAN card of subscribers and first directors;
- Aadhar card of subscribers and first directors;
- Documents like a lease agreement, rent agreement, or sale deed to serve as proof of registered office.
- The most recent utility bill, such as the electricity bill;
- If the registered office is taken on rent or lease, the owner's NOC.
Note: e-MOA and e-AOA, also known as SPICe 33 and 34, cannot be used with a Section 8 company. Companies in Section 8 must submit MOA and AOA as pdf attachments to SPICe-32.
Conclusion
Naming your Section 8 companies is a crucial step toward business success. A good name can help you differentiate yourself from the competition, win over clients, and establish brand recognition. You can come up with a simple, one-of-a-kind name to remember if you follow the advice in this blog post. Before choosing a name, remember to check availability, and don't be afraid to be imaginative!
From name availability to Section 8 Company registration, Lawgical India will help you from start to end. Visit our website for more information.
