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Public Limited Company
A Public Limited Company (PLC) is a type of business entity in which the liability of shareholders is limited to the amount of capital they have invested. It is a separate legal entity from its shareholders, meaning that it can enter into contracts, borrow money, sue and be sued in its own name. Public limited companies are allowed to issue shares to the public and can be listed on a stock exchange.
The incorporation process for a public limited company is similar to that of a private limited company, but it requires a few additional documents.
A Public Limited Company requires:
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a minimum of seven shareholders,
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at least three directors, and
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a registered office address in India
It also has to comply with additional compliance and regulatory requirements such as having a minimum paid-up capital of INR 500,000 (Rs. Five Lac), appointing an auditor and filing annual returns with the Registrar of Companies (ROC).
A Public Limited Company is strictly regulated and is required to publish its true financial health to its shareholders. It is considered to have more credibility than a private limited company or a limited liability partnership firm and has more opportunities to raise capital through the sale of shares to the general public.
Letsstart, a leading legal services provider for startups and entrepreneurs offers an easy and affordable public company incorporation service in India. We handle the legal paperwork and comply with all the Ministry of Corporate Affairs (MCA) requirements. Upon successful incorporation of your company, you will be issued an Incorporation certificate (CoI), along with the PAN Card and TAN of the Company. Now you can open a current bank account and start your business.
Why choose a Public Limited Company?
You can enjoy several advantages by starting a Public Limited Company, including:
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Limited liability: Shareholders are only liable to the extent of their share capital, which means their personal assets are protected in the event of the company's failure.
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Separate legal entity: A Public Limited Company is considered a separate legal entity from its shareholders, which allows it to enter into contracts, borrow money, sue and be sued in its own name.
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Ability to raise capital: A Public Limited Company can raise capital through the sale of shares to the general public, which can be more efficient than borrowing money from banks.
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Professional management: Public Limited Companies are required to have a board of directors who are responsible for managing the business, which can lead to more professional management and decision-making.
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Perpetual succession: A Private Limited Company has perpetual succession which means the company continues to exist even if the shareholders or directors change.
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Brand image: A Public Limited Company creates a better brand image and reputation than a private limited company or limited liability partnership.
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Separation of ownership and management: Shareholders of Public Limited Company can be different from the management which allows them to focus on their own business while the management runs the company.
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Compliance: Public Limited Companies have to comply with various regulations, which can be beneficial in terms of building a strong reputation and gaining credibility with customers and suppliers.
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Taxation: Public Limited Companies are subject to corporate tax which in many cases is less than individual tax.
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Public trading: Public Limited Companies can be listed on a stock exchange, which can provide liquidity for shareholders and increase the visibility of the company.
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Large-scale operations: Public Limited Companies are capable of raising large amounts of funds which can be used to invest in large-scale operations, R&D and expansion.
What are the documents required?
Without valid identity and address proof, a Public Limited Company cannot be formed in India. The documents that the Ministry of Corporate Affairs (MCA) accepts for online company incorporation are listed below:
Passport size photo of all the promoters
PAN card of all the promoters
Proof of identity of all the promoters (any one of the below)
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Aadhaar Card
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Passport
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Voter ID
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Driving License
Proof of residential address of all the promoters (any one of the below)
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Bank Statement
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Electricity Bill
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Mobile Bill
Utility bill of office address (any one of the below)
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Electricity Bill
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Gass Bill
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Mobile Bill
Rent agreement, if the office premises is rented
Please Note: All the scanned documents must be clear & the text in the documents must be legible.
What are the minimum requirements?
The following conditions must be satisfied to start a Public Limited Company:
Minimum seven shareholders
Minimum three directors
The directors and shareholders can be the same person
At least one of the directors must be an Indian resident
All the directors must have a Director Identification Number (DIN)
Minimum authorised capital of ₹500,000 (Rs. Five Lac)
Minimum paid up capital of ₹100,000 (Rs. One Lac)
What all do you get?
Company Name Approval
Certificate of Incorporation
Company PAN & TAN
Company Masterfile
DIN for 3 Directors
Memorandum of Association
GST Certificate
Bank Account Opening
DSC for 7 Shareholders
Articles of Assocaition
MSME Certificate
PF & ESIC + Professional Tax
What are the charges for company formation?
The cost of incorporation of a Public Limited Company in India depends on multiple variables, including the number of directors, share capital, state in which the company is getting registered, and professional expenses.
Our Comprehensive Registration Package Includes:
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Government Fees
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Name Approval Fee: Fees for obtaining name approval from the Ministry of Corporate Affairs (MCA).
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Filing Fees: Costs associated with filing forms and documents with the Registrar of Companies (ROC).
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Stamp Duty: Charges levied by the State Government as per the company's authorised capital.
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DIN & DSC Fees
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DIN Fees: Charges for applying for Director Identification Number (DIN) of all the Directors.
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DSC Fees: Charges for applying for Digital Signature Certificate (DSC) of all the Directors and Shareholders.
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Professional Fees
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Consultation and Advisory: Expert guidance on the best business structure and compliance requirements.
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Document Preparation: Assistance in preparing all necessary documents, including MOA and AOA.
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Other Fees
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PAN & TAN Application: Fees for obtaining Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
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Other Certificates: Support for getting GST Certificate, MSME Certificate, etc.
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How it works
Consultation
Schedule a free consultation call with our experts to discuss your business needs and goals. Our team will provide personalized advice on the best business structure and services for your specific requirements.
Documentation
We help you gather, prepare, and verify all necessary documents. Our comprehensive checklist and expert guidance ensure that your paperwork is complete and accurate, reducing delays and complications.
Processing
Once your documents are ready, we handle the entire incorporation process. Our team keeps you informed with regular updates, ensuring a smooth, stress free and transparent experience from start to finish.
Completion
Achieve Milestones Effortlessly as you receive your Certificate of Incorporation and compliance documents promptly. Our full support ensures you’re ready to start and operate your business successfully.
Ongoing Support
Stay compliant and stay confident with Letsstart by your side. Our comprehensive corporate compliance services ensure your business adheres to all legal requirements, allowing you to focus on growth and success.
Our Clients love us!
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Frequently Asked Questions (FAQs)
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What is a DIN?DIN is an eight digit unique Director Identification Number, with a life time validity, allotted by the Central Government to any person intending to be a Director or an existing Director of a Company.
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What is a DSC?A Digital Signature Certificate (DSC) is the digital equivalent (electronic format) of physical or paper certificate. Digital signatures provide the highest levels of assurance about the signer's identity and the authenticity of the documents they sign.
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Is a Company required to re-register in the future?No, a Company is not required to be re-registered. A Company has perpetual succession, which means it enjoys continuous existence as long as the Company complies with the statutory and regulatory filings.
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Can a home address be used as the registered office address of the Company? Is it possible to change the address after incorporation?Yes, a home address can be used as the registered office address of the Company, which can also be changed after incorporation.
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What is ROC?The Registrar of Companies (ROC) is an office under the Ministry of Corporate Affairs (MCA), which is the body that deals with the administration of Companies and Limited Liability Partnerships in India.
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Are the Directors or Shareholders required to visit the ROC for the incorporation of their Company?The entire incorporation process is completed online. The incorporation documents are filed electronically and don’t require the Directors or Shareholders to visit the ROC physically.
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Are their any rules to choose the Company name?There are certain naming guidelines put in place by the Registrar of Companies, which are required to be followed. Abiding by the guidelines ensures easy approval of the name.
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Can I work in a company as a salaried employee and also be the Director of my own Company?Yes, an employee of a Company can also be a Director in another company. However, the terms of the employment/service agreement/appointment letter have to be checked to ensure there are no restricting clauses.
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What is the minimum capital requirement for incorporating a Company and how is it invested in the business?There is no specific minimum capital requirement for incorporating a Company. The capital must be deposited by the Shareholders in the bank account of the Company for running the business.
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Can NRIs or foreign nationals incorporate a Company in India?Yes, NRIs or foreign nationals can incorporate a Company in India. However, the Act requires at least one of the Directors to be an Indian Resident.
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What is the meaning of limited liability?Limited liability is a form of legal protection for shareholders and owners that prevents individuals from being held personally responsible for their Company’s debts or financial losses. It is the condition by which shareholders are legally responsible for the debts of a Company only to the extent of the nominal value of their shares.