Public Limited Company Registration
A limited company offers limited liability to its management and the owners. For raising the capital, a public company authorized to sell its shares to the public. Minimum of three directors are needed to incorporate a public limited company. It has more strict regulatory requirements as compared to a Private Limited company
For the registration, a public limited company should have minimum 7 members and 3 directors and there is no restriction on the maximum number of members. It also requires minimum paid up capital of 5 lakh rupees. Most of the features of a public limited company are also similar to private limited company.
A public limited company enjoys all the benefits of a private limited company. It is more transparent, easy in shareholding transfer and has the ability to have any number of members. You can recognize a public limited company by its name, number of members, shares, management, formation, directors, meetings etc.
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Reasons for Registering a Limited Company
A Limited company has a good borrowing capacity. It can issue secured and unsecured debentures and can also accept deposits from the general public. Bank and financial institutions also prefer public limited companies over partnership firms or proprietary concerns for large financial assistance.
No shareholder can make any claim on the company property as the company is a going concern and will continue to exist.
Limited company is not affected by the departure or death of its members. Irrespective of the changes in membership, a company continues to exist.
Shares of a limited company can be easily transferred by a shareholder to any other person. You can easily transfer shares by filling and signing the share transfer form and handing over the same to the buyer along with the share certificate.
A company is a legal entity distinct from its members. The members of the company has no liability towards the creditors for paying debts.
Necessary Documents for Registration of Public Limited Company
PAN Card copies of directors
Passport size photographs of directors
Copy of Voter Identity card/Aadhar card y
Water/Electricity bill (business place)
Rent agreement copy (If property is rented)
NOC from the landlord
Copy of property papers (if property is owned by you)
Notarised copy of passport for the Foreign nationals
Scanned copy of signature of all the directors. (Signature should be same as on PAN card copy)
Proof of address of the shareholders and directors. For ex - Bank statement, Aadhar card, Driving License, and Passport. You can also use property tax receipt, sales deed and rent agreement for the address proof.
Minimum requirements for the registration of Public limited company
Process of registration of a Public limited company
Director Identification Number (DIN) and the Digital Signature Certificate (DSC) is a necessary requirement for the proposed directors of the Public Limited Company and it can be received by the proposed directors within a time period of 5 to 7 days.
For the name approval, a minimum of one and maximum of six names needs to be submitted to ministry of corporate affairs (MCA). Name approval can be obtained within 5 to 7 working days subject to availability, naming guidelines and MCA processing time.
Application of Incorporation along with the documents needs to be submitted to the ministry of corporate affairs. It will be approved within a time period of 5 to 7 days subject to the processing time.