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Forming a Public Limited Company is a great business decision for large-scale businesses. The minimum membership requirement is of 7 members with no limit on the maximum number of members and/or shareholders for incorporating a Public Limited Company. However, only some Public Limited Companies list with one or many stock exchanges to raise capital from the general audience. Even a Private Company can list its debt instruments on stock exchanges. Due to its structuring, Public Limited Companies are required to adhere to multiple regulations of the government. Accordingly, starting a public limited company can be a cumbersome process, and might need expert assistance.
With eformation, your company incorporation can be completed swiftly without much to be worried about as long as you provide to us all the necessary documents while meeting the requirements set by the government to incorporate a public limited company. Get in touch with us today to begin your public limited company formation!
What is a Public Limited Company?
Note: As per the Companies Act, 2013, a subsidiary company will be deemed to be a public company if it is not a subsidiary to a private company, even if it is a private company as per the Articles.
Checklist to Incorporate a Public Limited Company
Before you apply for your Company registration, ensure that your basic requirements are fulfilled as given below:
| Minimum Paid-up Share Capital | Nill |
| Minimum number of Directors | 3 |
| Maximum number of Directors | 15 |
| Minimum number of Shareholders | 7 |
| Maximum number of Shareholders | No Limit |
Requirements
To register your business as a Limited Company, you require the following:
- 3 Directors with all KYC Documents
- Minimum 7 Shareholders
- Digital signatures of all parties involved since the procedure is online
- Address of the registered office
Procedure
01
Apply for a Company Name
File an application for your business’ name as a Limited Company. You can get approval from the company SPICE + PART A Application procedure and then proceed with registration. Alternatively, you can reserve your company’s name through the SPICE incorporation. If the first name is rejected due to Resemblance or an already existing name, one of the two alternative suggestions given will be chosen.
02
Prepare the forms and file the company incorporation documents with the MCA
These essential documents consist of a Simplified Proforma for Incorporating a Company (SPICE+), the Memorandum of Association, Articles of Association labeled as SPICE+ Part B, eMOA and eAOA, AGILE PRO S & INC 9 respectively. All the aforementioned need to be attested or executed along with the digital signatures of the directors and shareholders.
03
Processing of the Documents
The Company Registration Centre or CRC will process these documents and duly approve of the registration, upon which the following will be issued:
- Certificate of Incorporation
- DIN allotment
- Mandatory issue of PAN
- Mandatory issue of TAN
- Mandatory issue of EPFO registration
- Mandatory issue of ESIC registration
- Mandatory issue of Professional Tax registration (Applicable States)
- Mandatory Opening of Bank Account for the Company and
- Allotment of GSTIN (if so applied for)
Documentation
To have your business registered as a limited company, the following documents are to be furnished with digital signatures of the concerned parties.
Documents Signed By Shareholders
- Application for Digital Signature Certificate (DSC)
- INC-9 Declaration by the Director and Shareholders
Address of the Registered Office
- Address Proof: Electricity bill / Tax Paid receipt
- No objection letter from the owner of the company property if leased
ID & Address from Directors and Shareholders
Shareholders and Directors have to submit their identity proof and latest address proof
- Acceptable Documents
- Primary ID: Permanent Account Number (PAN) (Mandatory in case of Indian Nationals) PASSPORT (Mandatory in case of Foreign Nationals)
- Additional ID: Aadhaar Card or Driving License or Passport or Voter ID
- Latest Address Proof: Telephone Bill, electricity bill, bank statement or bank passbook with the latest entry not older than 60 days
Additional Documents
The following documents may be required for registration on a case to case circumstance:
- NOC for the usage of a brand name from its trademark owner
- Resolution and NOC from an existing Company / LLP for the use of a name similar to their company
- Declaration for complying with sectoral regulatory compliance
Certificate Of Commencement
The stakeholders need to apply for the Certificate of Commencement of Business within a period of 180 days of receiving the Certificate of Incorporation.
