Public limited company registration
A company is said to be Public limited company if it is listed on stock exchange. It has limited liability. The Public limited Company comes under Company Act 2013. The stock of the Public limited Company can be acquired either by Initial Public Offering or through trades on the stock market. To form Public limited Company minimum three Directors are needed. And there can be any maximum number of Directors. It has strict regulations. The paid-up capital of the Public limited company is Rs.5 Lakh or such higher amount can be prescribed. The name is a compulsory requirement under Companies Act 2013. All the companies that fall under this Act should have the word ‘limited’ as its suffix.
Characteristics of public limited company registration
- The proposed company for the Public limited company should have registered office address.
- Every subscribers and the Director should have DSC.
- DIN is needed for all the Directors.
- Minimum 3 and Maximum 7 shareholders are necessary for forming Public limited company.
Documents required for Public Limited Company:
- If proposed Director or the shareholder is an Indian Citizen
- PAN card
- Aadhaar card
- Address Proof (Recent bank statement or mobile phone bill)
- Passport size photo
- Proposed Directors and the shareholders is Foreign national
- Photocopy of the Passport
- Photocopy of address proof
- Photocopy of the nationality proof
- Two passport sized photographs.
Register office documents
- If the office is on rent rental agreement is necessary.
- Electricity bill (It should not be more than 2 months old)
- No-objection certificate (NOC) from eh land-lord is necessary if the land is not on rent.
Procedure to register
Step 1: Name Application
Reservation of name of the company is made in an application. It is done with the registrar of companies. The applicant can provide two names and can do one re-submission.
Step 2: Name approval/Rejection
The CRC (Central Registration Centre) may either get approval or may get rejection wen the application is received.
Step 3: Application for DSC
DSC can be obtained for all the subscribers and Directors of the company.
Step 4: Preparation of MOA and AOA
MOA and AOA must be drafted and digital signature certificate must be attached in both the documents.
Step 5: Forms and Documents filing
Application forms for the registration of Private limited company should be filed with MOA, AOA along with other supporting documents if any. Also prescribed fees should be paid.
Step 6: Certificate of Incorporation
When satisfied the ROC (Registrar of Companies) shall issue the Certificate of Incorporation. Also DIN (Director Identification Number), PAN (Permanent Account Number) and TAN (Tax Deduction Account Number) will be allotted.
As the Public limited company deals with the public money, the compliances for the public limited company is heavier than that of private limited company. Apart from compliances related to income tax, there are many annual and periodic compliances with ROC/MCA, SEBI, and RBI etc.
Yes. A foreigner/NRI can become Director of the Public limited company when DIN is obtained. However, at-least one of the Directors should be an Indian citizen.
There is separation of ownership and the management. The shareholders of the company has no rights to participate to in day-to-day management.
Authorized capital is the capital limit authorized by ROC. This amount is limited up-to which the shares can be issued to the public. The paid up share capital is the paid portion of capital subscribed by the shareholders.
Normally it takes 8-15 days for the registration of the company. Earnlogic is the best consultant which provides hassle free registration process. This procedure is made easy when online registration is considered.
Yes. There is no hurdle. However the employment agreement can have some restrictions. For further details, please contact us.