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Public Limited Company Registration
Overview
This is one of the most popular and preferred form of entity, highly recommended for larger group of individuals, New Businesses which tend to kick off with comparatively more capital and publicly held business groups. Other than that, setting up a Public Company firm is most suitable for overgrown businesses.
A Public Limited Company can be formed as soon as within 2 working days with lesser number of forms to fill up, paper-less signing and single window clearance for all basis registrations required for the company viz; Certificate of Incorporation, GST Registration, PAN & TAN allotment, Opening of Bank Account, ESIC Registration, EPFO Registration, Professional Tax Registration, DIN Allotment, Shop & Establishment Registration.
Public Limited is a company wherein the liability of the shareholders/subscribers is limited to the extent of the shares held by them. It is a type of company that offers limited liability or legal protection to the shareholders. This is owned entirely by the publicly or closed held group of individuals/entities contributing a certain amount of capital for the formation and functioning of the business.
Features & Benefits of Public Limited Company Registration:
Number Of Directors in The Company
As stated in the provisions of Companies Act, a public company must have a minimum number of 3 directors to incorporate a company whereas there is no restriction on the maximum number of directors.
Number Of Subscribers/Members in The Company
As stated in the provisions of Companies Act, a public company must have a minimum number of 7 members/subscribers to incorporate a company whereas there is no restriction on the maximum number of members.
Name Of the Company
All the Public limited companies must add “Limited” word at the end of their name. it is denoted as an identity of a public company.
Paid-Up Capital
There is no minimum capital requirement.
Benefits of Public Limited Company Registration:
Limited Liabilities for The Shareholders of The Company
Shareholders of the public company enjoy the benefits of limited liabilities under which their assets are safe and cannot be used to clear the debts and losses of the company. Despite of it, the shareholders are responsible for their own legal offenses. All the members, directors and shareholders enjoy this right and their assets cannot be seized by any bank, creditors or government bodies.
Perpetual Succession
A public limited company is considered as a corporate body that has perpetual succession. Means in case of death, retirement, insanity, and insolvency of one or more members/ shareholder/ directors, the company still continue its existence.
Improved Capital of The Company
In a public limited company, the general public is invited to buy the shares of the company. Hence, anyone can invest in a public company that improves the capital of the proposed company.
Borrowing Capacity
A public company can enjoy unlimited sources for borrowing funds. It can issue equity, debentures and can accept the deposits from the general public by selling its shares. Moreover, most of the financial institutions find public companies more prominent than other unregistered companies.
Fewer Risks
Since public companies can sell their shares to the public, it lesser the scope of unsystematic risks of the market.
Better Opportunities For Growth And Expansion Of The Company
Fewer risks lead to better opportunities so that the company can grow and expand by investing in new projects from the funds raised by selling its shares in the market.
Documents Required for Private Limited Company Registration
Scanned Copy of:
- PAN & Aadhaar of all the Subscribers/Directors
- Passport size photograph of all the Subscribers/Directors
- Specimen Signature of Authorised Signatory
- Utility Bill of Registered office address (Not older than 2 months) (Electricity bill preferred)
- No objection certificate from legal owner of Registered office address (Format to be provided by Startup Sampark)
- Driving License or Passport or Voter’s ID (Any one of it) of every Subscribers/Directors
- Latest Bank Statement (without password protection) or Electricity Bill or Mobile Bill or Telephone Bill of every Subscribers/Directors. (Any one of it) (Not older than 2 months)
Information Required:
- Email Id and Phone No. of all Subscribers and Directors
- Highest Qualification of all Subscribers and Directors
- Place of Birth of all Subscribers and Directors
- Number of Months and Years of stay at current address
- Main Business Objects of Proposed Company
- Capital Contribution and shareholding division
STARTUP SAMPARK Procedure for Public Limited Company Registration
Public Limited Company Registration is very detailed procedure, which requires keen knowledge, procedure and team of professionals. Each Company incorporation has its tailored requirements. We at Startup Sampark have a full-fledged, dedicated team of professionals. You are required to fill the form and then our experts will reach out to you, to know the exact requirement and gather further information. Then our experts at STARTUP SAMPARK will be at your disposal for assisting you with guidance concerning Company Registration and its compliances. Our professionals will assist you in planning seamlessly at the least cost, confirming the successful conclusion of the process. We shall guide you with Do’s and Don’t’s as well. We will begin working on your request once all the information is provided, and the payment is received.
Why STARTUP SAMPARK?
Startup Sampark is one of the platforms which coordinates to fulfil all your Secretarial, Legal, Licensing and Taxation requirements and connect you to consistent professionals. Our team consist of Chartered Accountants, Company Secretaries, Cost Accountants, Advocates, Patent and Designs Agents, Trademarks & Copyright Attorneys, Paralegals and other legal professionals.
We are a management consultancy and technology platform to simplify legal and business related matters. We are committed to help start-ups, small business owners and non-compliant businesses in solving their legal, secretarial and taxation compliance related to setting up and running the business smoothly and compliantly.
Our clients can also track the assignment progress at all times through a dedicated portal provided to you along with User Id and Password. You can comment and find the resolution and ask questions on the dedicated portal provided to you. If you have any questions about the company incorporation and registration process, our experienced representatives are just a call away.
- Step 1: Fill the query form.
- Step 2: Our Expert will connect with you
- Step 3: Make payment through hassle free payment portal
- Step 4: Get confirmation on mail and receive User Login and password
- Step 5: Submission of documents with us on our client portal
- Step 6: Executive will process your application
- Step 7: Track progress of your order all the time on our client portal
- Step 8: Greetings, Order completed
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FAQs
Public company means a company which is not a private company.
Public limited company means an incorporated entity with seven or more persons. It is the most preferred form of entity highly recommended for larger group of individuals, New Businesses which tend to kick off with comparatively more capital and publicly held business groups or to convert their existing business into Public limited company.
You need to first apply for name approval. Name approval is completely optional. We recommend this only in the case where the name availability is complicated, so to secure the name timely and to avoid the hassle of form rejection and delay in incorporation process. Once name is approved, you can start with public limited company registration with us. Startup Sampark helps you from name approval to incorporation process and guidance with setting up a Corporate Bank Account for your newly incorporated private limited and further compliances.
Please refer our above section for documents required.
Step 1: Choose a unique name and apply for name approval in Part A (optional).
Step 2: Application for Digital Signature Certificate (DSC).
Step 3: Filing of Company incorporation in Spice+ Part B.
Step 4: Generation of Incorporation Certificate along with PAN and TAN of the Company.
Step 5: Guidance with opening of Company’s current account.
Step 6: Filing of Form INC-20A for commencement of business.
Yes, Private Limited Company is different from Public company in respect to the members in the firm, transfer of shared, compliance procedures, legal status etc
The minimum number of members required for the formation of a Public Limited Company is 7.
Apart from Director’s who already have a valid DIN, maximum 3 DINs can be allotted in one single incorporation form. For issuance of furthermore DINs, separate form DIR-3 has to be filed, after company incorporation
In a Public Limited Company, a director is the person who manages and carries on the business, and acts on behalf of the business based on the duties assigned under the directorship appointment letter and as per the Companies Act.
No, in a public company, there can be unlimited members, however the maximum number of members in a Private Limited Company can only be 200.
DSC is a short form for Digital Signature Certificate, is a legally recognized method of signing the documents electronically, & DIN is a short form for Directors Identification Number, is an identification number, issued by the Ministry of Corporate Affairs, to the directors of company, or the designated partners of the LLP firm.
The liability of the members in a Public Limited Company is limited, to the extent of the amount invested in share of company.
There are at least 3 directors required to form and continue a private limited company.
There is no concept of minimum capital requirement in case of incorporation of a Public Limited Company.