A public limited company is a Company limited by shares, which can offer its shares or debentures to Public, can make or accept deposits from Public at large and there are no restrictions on the transfer of shares. The businesses with a large scale of operation and with an expansion plan should opt this form of business. The minimum number of 7 persons is required as shareholders and 3 as directors to set up a limited company and there is no cap on the maximum number of shareholders.
A public limited company is a voluntary association of members, which is incorporated and therefore has a separate legal existence and limited liabilityof its members to the extent of the amount of shares subscribed.
It also has a minimum share capital requirement of Rs.5 Lakhs. A Public Limited Company should be registered with Registrar of Companies (ROC) of the respective State under the Companies Act, 1956. Although the registration with ROC is on State level, it is free to do Business anywhere in India.
A limited company grants limited liability to its owners and management. Being a public company, it allows a firm to sell shares to investors this is beneficial in raising capital. It has more stringent regulatory requirements compared to a Private Limited Company. It has most of the characteristics of a private limited company & the ability to have any number of members, ease in transfer of shares, more transparency. Identifying marks of a public limited company are name, number of members, shares, formation, management, directors and meetings, etc.
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To incorporate a Limited Company,
Minimum 7 Shareholders
Minimum 3 Directors
The directors and shareholders can be same person
Minimum Share Capital of Rs. 5 Lakhs.
Authorized capital of a Company is the amount of shares a company can issue to it shareholders. Companies have to pay the Government an authorized capital fee for a minimum of Rs.5 lakhs to issue shares in a Company. There is no requirement to show proof of capital invested during the incorporation process.
The documents requirements are as follows:
For Directors / Members
In addition, the landlord of the registered office premises must provide a No Objection Certificate (NOC) for having the registered office in his premises and must submit his identity proof and address proof.
Yes, a NRI or Foreign National can be a Director in a Limited Company after obtaining Director Identification Number (DIN). However, atleast one Director on the Board of Directors must be a Resident India.
The Director needs to be over 18 years of age and must be a natural person. There is no professional or educational qualification is required.
There are no limitations in terms of citizenship or residency. Therefore, even foreign nationals can be Directors in a Public Limited Company.
Director Identification Number is a unique identification number assigned to all existing and proposed Directors of a Company. It is mandatory for all present or proposed Directors to have a Director Identification Number. Director Identification Number never expires and a person can have only one Director Identification Number.
Allindiataxfiling.com can incorporate a Limited Company in 16-18 days. The time taken for incorporation will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy incorporation, please choose a unique name for your Company and ensure you have all the required documents prior to starting the incorporation process.
Once a Public Limited is incorporated, it will be active and in-existence as long as the annual compliances are met regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of upto 20 years.
You can open a company on your residential address there is no requirement to have a commercial place to open up a company.
For Registered Office Address
NOC from the Owner
Yes, a salaried person becomes a director, there are no legal bondages in this but you may have to go through with your employment agreement if it contains any restrictions on doing so.
First ensure the name is not similar to any other Private limited, OPC, LLP or Public limited company. Also, do check if the name is not a registered trademark taken by anybody under the IP act.
While choosing the name make sure that name should contain the objective of the business. Also, make sure the name is not too generic to be accepted by the ROC land also, try not to use abbreviations, adjectives.
A limited company must hold a Statutory Meeting,Board Meeting atleast once in every 3 months. In addition to the Board Meetings, the Public Limited Company, atleast once every year, must conduct an Annual General Meeting.
No, you will not have to be present at our office or appear at any office for the incorporation of a Limited Company. All the documents can be scanned and sent through email to our office. Some documents will also have to be couriered to our office.
Yes, A company can change its registered office any time after following specified procedure. The changed address can be situated within the same state or in a different state from the state in which it was originally registered.
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