Public Limited Company Registration - Process, Documents Required, Fees
Updated on Mar 8, 2021 - 12:11:15 PM
A Public Limited Company has the benefits of limited liabilities and it can sell its shares to the general public for raising capital. It is suitable for large businesses that require huge capital and registered under Companies Act, 2013.
A Public Limited Company is a type business entity which has limited liability features and offers shares to the general public for raising equity capital. It is governed by Companies Act, 2013 and registered under the Ministry of Corporate Affairs. It can be incorporated with a minimum number of seven members and at least three members must be the directors of the company.
Advantages of Public Limited Company registration
Limited Liability: It helps in protecting personal assets of the owners with limited liability protection. So if there are any financial issues with the company, the assets of the director are secured and could not be seized by banks or departments.
Separate Legal Entity: A public limited company is a separate legal entity in its own right and hence the business owners aren’t subject to any personal liability. The company can acquire assets and incur debts on its own name.
Raise Capital: Public Limited Company can raise funds by offering shares to the general public and hence it can raise more capital easily.
Credibility and Attention: As listed on the stock market, a public limited company has higher credibility than other limited companies.
Free Transferability of Shares: Unlike Private Limited Company where the shares can only be transferred with the consent of other members of the company, a public limited company can easily transfer the shares freely.
Process of Public Limited Company registration
Step 1. Application for Digital Signature Certificate (DSC)
Public Limited Company registration is a complete digital process and therefore requirement of Digital Signature Certificate is a mandatory criteria. Directors as well as subscribers to the memorandum of the company need to apply for a DSC from the certified agencies. Obtaining a DSC is a complete online process and it can be done within 24 hours. This process involves 3 simple verifications that are document verification, video verification and phone verification.
Step 2. Application for the Name Approval
Name application for Public Limited Company can be done through SPICe RUN form which is a part of SPICe+ form. While making the name application of the company, industrial activity code as well as object clause of the company has to be defined.
Note: It should be ensured that business name does not resemble the name of any other already registered company and also does not violate the provisions of emblems and names (Prevention of Improper Use Act, 1950). You can easily check the name availability by using our company name search tool to verify the same.
Step 3. Filing of SPICe Form (INC-32)
Post name approval, details with respect to registration of the company has to be drafted in the SPICe+ form. It is a simplified proforma for incorporating a company electronically. The details in the form are as follows:
Step 4. Filing of e-MoA (INC-33) and e-AoA (INC-34)
SPICe e-MoA and e-AoA are the linked forms which have to be drafted at the time of application for company registration.
Memorandum of Association (MOA) is defined under section 2(56) of the Companies Act 2013. It is the foundation on which the company is built. It defines the constitution, powers and objects of the company.
The Articles of Association (AOA) is defined under section 2(5) of the Companies Act. It details all the rules and regulations relating to the management of the company.
Step 5. Issuance of PAN, TAN and Incorporation Certificate
Post approval of the above mentioned documents from the Ministry of Corporate Affairs; PAN, TAN & Certificate of Incorporation will be issued from the concerned department. Now, the company is required to open a current bank account by using these documents. You can contact us for assistance with your current bank account opening.
Register your Public Limited Company Online with Professional Utilities
The process of registering a Public Limited Company is complicated and involves various compliances. Our experts at Professional Utilities can simplify the whole registration process for you. Register your Public Limited Company Online in 3 easy steps:
Fill our simple form and receive a callback from our team of experts.
Provide all the required documents for registration of the company and make 50% payment in advance.
Your incorporation certificate and other included documents will be delivered to you.
Minimum requirements for Public Limited Company registration
Minimum of seven members are required
At least three members must be the directors of the company
Minimum of 5 lakh rupees is required for share capital
Documents required for Public Limited Company registration
Passport size photographs of the members
Copy of PAN Card of the members
Copy of Aadhar Card or Voter ID
Bank statement (not older than two months)
Proof of registered place of business
No Objection Certificate from the owner of the property
Documents you’ll get post incorporation
Post incorporation of Public Limited Company, you’ll receive the following documents:
Certificate of Incorporation
Permanent Account Number (PAN) of the company
Tax Deduction or Collection Account Number (TAN) of the company
Articles of Association (AoA)
Memorandum of Association (MoA)
Direction Identification Number (DIN)
Digital Signature Certificate (DSC)
EPF and ESIC registration documents
Company Master data
Public Limited Company registration fees
The total cost of registering a Public Limited Company including government and professional fees would be around Rs. 10,999.
Time required for registration of Public Limited Company
The total time for registering a Public Limited Company takes around 7-14 working days.
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Frequently Asked Questions (FAQs)
How do I register a public limited company?
You can register your public limited company with a minimum of 7 members and three of them must be the directors of the company. You’re required to arrange proper identity and address proof of directors, members and business office along with declaration of a professional like CA, CS, etc.
How much does it cost to set up a public limited company?
The cost depends on the number of members of the public company. Basic pricing of company registration including govt and professional fees would be around Rs. 10,999.
How many minimum members is needed to form a public limited company?
The formation of a public limited company requires at least seven members.