Public Limited Company Registration
Public Limited Companies were developed to run at a larger scale and meet the demands of capital. Their shareholders are free to trade their shares in the share market and these companies do not have any owner. A Board of Directors looks after the affairs of the company. They raise their capital through issues of shares and provide the shareholders with a return on investments. As a company grows in stature, a need may arise to register it as a Public Limited Company. We, at Corporate Consult, provide the services for registration and incorporation of Public Limited Companies.
Procedure For Public Limited Registration
Our team consists of experts, Senior Advocates, CAs, MBA graduates, and other professionals. Interested clients have to follow a simple procedure and submit the necessary documents to get registered as a public limited company:
- To get the process of registration started, clients will have to fill up an online form. This form demands basic details about the company to be incorporated, the Directors, and so forth.
- After submission of the form, the Directors will be provided with DIN and DSC. Every Director must have a DIN. DSCs are required to establish the identity of a person online.
- All the details mentioned in the online form are verified by us. After verification, the name of the company is sent for approval. According to the Companies Act 2013, no two companies can have the same name or very similar names and therefore, name approval is an essential requirement before other things are fulfilled.
- After receiving the approval of the name, the required documents are submitted to the ROC. The documents are thoroughly prepared in the appropriate legal format and every single document that will be needed is provided to not cause any unnecessary delay.
- After getting approval from the ROC, a certificate of incorporation will be issued. Our clients will be informed about every update and all the documents and certificates will be sent to them.
Documents Required For Public Limited Registration
As already mentioned, no process of verification and registration will begin until there are documents to support the claim of the clients. Every established business or every business that is to be established exists on documents and certificates. From the start of the process to register a Public Limited Company, the following documents will be needed:
- Copies of the PAN card of all the Directors.
- Copy of a valid Government ID of the Directors.
- Copy of Rent Agreement if any property is to be rented by the company.
- Passport size photographs of the Directors.
- Copy of papers of property owned by the company.
- Electricity or water bill of the office of the company; etc.
Other documents such as the PAN card of the company, MOA and AOA of the company, DPIN, etc will also be required during the process. Our clients will be informed about the required documents which they have to produce and the ones that have to be drafted will be produced by our experts.
Minimum Requirements for Public Limited Registration
Public limited companies hold many advantages over other forms of companies. Few of them are:
- There are no restrictions over the shareholders and they can transfer their shares whenever they wish. These shares are usually traded over the share market.
- The companies can raise capital through the share market and there is no upper ceiling. Companies can borrow as much as they want.
- Since there is no real owner and the company is itself a legal person; the shareholders and Directors have limited liability.
To have these benefits, certain requirements have to be met. The minimum requirements needed to establish a Public Limited Company are:
- A minimum of 3 Directors is required to establish a Public Limited Company as opposed to a requirement of 2 in the case of Private Limited.
- A minimum of 7 Shareholders has to be present when the company is being registered. The Directors can be shareholders, too.
- At the time of registration, a minimum of 5 lac share capital must have been subscribed and paid-up.
Each Director of the company shall have a DIN.
A minimum of 3 Directors and 7 Shareholders are needed.
No, there is no need for the clients to be present physically at the time of registration. Only the required documents will be enough.
Anyone above the age of 18 can be a Director of the company.
Board meetings should be held at least once in 3 months and an annual general meeting should be held at least once in a year. Auditing is necessary and other statutory compliances will be told to the clients by our experts.