What do you mean by Registration of Public Limited Company?
Public Limited Company finances their business from the outside source i.e. from the public in the form of equity or debentures or deposits and as a result they are accountable to the Public due to which they have to maintain more credibility and transparency in business. It must have minimum 3 directors and if you possess a broad vision from startup to IPO, then you must go for Public Limited Company
A Public Limited Company can have unlimited number of members. Moreover, creditors, lenders bankers feel secured as such companies offer transparency of their activities to them. There arises no issue in selling or transferring the shares.
- Digital Signature Certificate (DSC) and Director Identification Number (DIN)
- Reservation of Company Name
- Drafting of Articles of Association (AOA) and Memorandum of Association (MOA)
- Corporate Identification Number (CIN)
What are the benefits of Registration of Public Limited Company
The Members and Directors of the Public limited company have limited liability i.e. liability upto the shares purchased by them. The private assets of the shareholders / Members / Directors are secured as such assets will not seize by banks, creditors, and government in case where the company incurs any loss or faces any financial distress.
The life of a business is not affected by the status of shareholders, and even after the death of the shareholder Public limited company has perpetual succession i.e. the life of business is independent of the status of shareholders as a result it continues to exist even after the death of its shareholders.
Capacity of Borrowing of funds
A Public Limited Company has various options / sources to borrow funds. The public limited company can raise funds through the issue of debentures, equity and even accept deposits from the public. Public Limited Company also receives financial assistance from the financial institutions.
Registration Process of Public Limited Company
Digital Signature Certificate (DSC)
Digital Signature must be owned by all proposed directors in order to file registration forms, Registrar of Companies (ROC) compliance, Electronic-forms, and Income Tax returns.
Director Identification Number (DIN)
Registrar of companies will send you an approval email which indicates that you are now eligible to become a director of a company.
Approval of Company Name
Form of Name approval is filed with to Registrar of Companies after a trademark search.
Final Incorporation of Company and Corporate Identification Number (CIN)
Form of Final incorporation of Private limited Company is filed with the Registrar of Companies once the name is approved by the Registrar of Companies.
Permanent Account Number (PAN)
At last, application for obtaining Permanent Account Number (PAN) is filed.
What are the Documents needed to register the Public Limited Company?
From Directors and Shareholders
- Permanent Account Number Card or Passport or Election Identity Card will be required.
- Latest Bank Statement/Telephone or Mobile Bill
- Voter Identity Card/Passport/Driver's License
- All directors and shareholder’s Passport-sized photograph.
- Signature’s scanned copy (signature should same as on Permanent Account Number Card)
For Proposed Registered Address (Residential/Commercial)
- Any Utility bills
- Rent agreement’s scanned copy with No Objection Certificate from owner where the property is on rent.
Frequently Asked Questions about Public Limited Company
Registration of Indian Subsidiary does not require your presence as it is a 100% online process. For document signature, we will send our personnel to your home or office.
The internal constitution of the company is defined in Article of Association, and mission, vision, business objective of the company is defined under Memorandum of Association.
Hiring CA/CS is not required. We will offer you annual compliance package will offered to you through which you will get the right advice from our professionals.
Minimum 15 business days are required for the same.
Company name should be different and unique, and name should describe the objective of the companies per Companies Act, 2013.
ID proof (like Aadhar/ Indian Passport / Driving License/ ID issued by any government agency, Utility bills as address proof, a copy, Permanent Account Number Card (for Indian Nationals) and Passport (for foreign nationals) must be provided by all the proposed directors. No-objection Certificate is also required to be submitted by the owner to the registered office premises.
Certifying authority issues the Digital Signature Certificate which is used to sign the electronic documents. Every proposed director in a company must have a valid Director Identification Number.
A registration certificate remains valid throughout the life of business which is issued by the registrar of company.