Public Limited Company Registration

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Incorporation Certificate, MOA, AOA, PAN, TAN
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What is Public Limited Company?

A Public Limited Company has more transparency and credibility in business than Private Limited.
Public limited company always preferred if you have a broad vision from startup to IPO.
Public limited company can fulfill its capital requirements from Public as Equity or debenture or deposit.
A public limited company can have unlimited members / Share Holders.
Shares can be sold openly and offer more transparency for shareholder lenders, creditors, and bankers.
With registration, FoundersCart.in offers real-time Compliance Support, FREE Accounting and Invoicing Software, FREE CRM and Legal Consultation when you need.

What are the Features of Public Limited Company?

A public company shall have minimum 7 members and 3 directors. Every private limited company which is a subsidiary of public company shall be treated as public company in the eyes of law. The Liability of each member or shareholder of a public company is limited.

Advantages

The most significant benefit of forming a public limited company is the opportunity to obtain capital through the issuance of public shares. Hedge funds, mutual funds, and professional traders, as well as regular investors, are interested in a public stock market listing. Better liquidity for the shareholders as it is easier to trade.

Disadvantages

The Company can be expensive to establish, maintain and wind up. The reporting requirements can be complex and if the directors fails to meet their legal obligations, they may be held personally liable for the Company's debts.

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Documents Required For Public Limited Company Registration

For Directors

  • PAN (Permanent Account Number) of all proposed directors (Self attested)
  • Identity Proof (Voter Id, Passport, Driving License) of all proposed Directors. (Self attested)
  • Latest passport size Photographs of all directors.
  • Address proof with Present address Mobile bill OR Telephone bill OR Electricity bill OR Bank Statement not older than 1 Month (Self attested)

For Share Holders

  • PAN (Permanent Account Number) of all proposed Share Holders (self attested)
  • Identity Proof (Voter Id, Passport, Driving License) of all proposed ShareHolders (Self attested)
  • Latest passport size Photographs of all Share Holders.
  • Address proof with Present address Mobile bill OR Telephone bill OR Electricity bill OR Bank Statement not older than 1 month (Self attested)

For Registered Address

  • Electricity Bill along with Rent Agreement OR Ownership proof and NOC

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Perpetual Succession

The company keeps on existing in the eyes of law even in the case of death, insolvency, the bankruptcy of any of its members. This leads to perpetual succession of the company.

Widening the shareholder base and spreading risk and raising capital

Permitted to sell share in public, it can get investor much larger than any other business form. This will facilitate early investors of the company to sell some of their own share at profit while still retaining a substantial stake in the company. It is also a good way of distributing the risk while bringing in capital as well as expertise.

Growth and expansion opportunities with other financing opportunities..

Just not having ability to raise fund through shares, such companies also hold better market standing to get corporate loans at a favorable rate of interest and repayment terms. Debt financing is cheaper than equity funding. With deep pocket, many avenues may come by way of new product, market or acquisition. Such can help grow exponentially

Transferability of shares and Exit strategy.

The fact that shareholders are less bound, increases the risk appetite of investors to bring in capital. Also the initial founders exit options are better with higher transferability of share, incraese visibility of business and its performance helps increase investors confidence

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Why FoundersCart exists?

Now, more than ever, the world needs entrepreneurs. They are the ones who take risks to achieve their dreams. They have the power and courage to change lives.


But here is the biggest challenge entrepreneurs face!

It's tough to know where to start, what resources are available, and how to take the business idea from concept to reality.

The journey is full of challenges , there is a lot of competition, and the odds are stacked against survival.

Keeping entrepreneurial moral is difficult, statistics say over 80% entrepreneurs quit within the first two years.


FoundersCart was created by a team of Chartered Accountants with an Idea to help entrepreneurs overcome these challenges.
We observed over 10,000 businesses and break down the path to success into key actionable steps. We curated selection of the best tools and resources that have helped many businesses grow faster. From CRM, web design templates and branding tools, to e-commerce platforms and marketing resources, we've got everything you need to make your business successful. Plus, our community of entrepreneurs is here to support you every step of the way.

So if you have an entrepreneurial spirit, now is the time to put it to good use. The world needs your ideas, your energy, and your passion. Together, we can make a difference.

Frequently asked questions

How Many People are Required to Start a Public Limited Company

To incorporate a Public limited company, a minimum of 7 shareholders with 3 directors are required. A minimum share capital of Rs. 5 lacs. The proposed company must have a clear object clause defining the purpose it is established. After completing the compliance requirement with ROC, it need to apply for Certificate of commencement of Business.

Who Can be a Director

The Director needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, even foreign nationals can be Directors in a Indian Private Limited Company. A company, legal firm, or an association with an artificial legal personality cannot be appointed as a Director. Usually the shareholders appoints the director in the AGM.

What is the Capital required to start a Company?

You can start a Public Limited Company with any amount of capital. The minimum share capital required is Rs.5 lacs. There can be any number of shares that can be issued, however the shareholders must pay the paid up capital.

Can we open Limited company at Residential House

Yes you can register a company in any part of India, Residential Commercial or Industrial. In case it is a rented property, rent agreement is required and NOC of the property owner is required who is either landlord or promoter director.

How will FoundersCart help me Register, I am not in Delhi

Your Physical presence is not required as all the procedural requirements will be fulfilled though Digital & Electronic Mode , documents can be send through courier or scanned copy can also be send through E-mail. Founderscart will explain you the complete process and at a minimum cost will set it up hassle free. At every step through our CRM you will get update. You can avail the CRM later for your own sales management.

What are the documents Required to Start a Limited Company?

The registration process is completely online hence DSC for all Directors are required. Also identity of every shareholders are needed with PAN. Proof of address for the registered office, like electric bill etc. or NOC of landlord. DIN of each director need to be obtained. Finally MOA and AOA has to be submitted.

How long does it take to Incorporate a Company

We have a record on Incorporating a company in 2 Hours, The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process. Usually it takes 10 to 15 days. We try to close it at the earliest and our CRM system keeps you posted real time.

How long is the company registration valid?

Company has perpetual succession, that means company can never die. It will be active and in-existence as long as the annual compliances are met with 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. Source it to us and we will keep you compliant as you grow at a very reasonable cost.

What are the Statutory Compliance's after Incorporating the company

A Public Limited company has to hold at least 4 board meetings in a financial year and 1 in each quarter, furthermore One AGM for each financial year is also mandatory compliance. Some requirements varies between listed and unlisted companies. For unlisted you are required to engage a cost auditor (Form CRA-2), Return of Deposit (DPT-3), Appoint CEO or CFO or CS (MGT-14 and DIR-12) We are here to help you comply all the requirements. We understand for a startup company these cost matters and we also expect these cost adds value and help you grow. We get the knowledgeable resource from the market who wish to do it more from support than money. Check with us we will explain you everything. It

Can a Non Resident become a Share Holder / Director of a Company

Yes, a NRI or Foreign National can be a Director in a Limited Company after obtaining Director Identification Number. However, atleast one Director on the Board of Directors must be a Resident India. Share Holding is subject to Foreign Direct Investment (FDI) Guidelines.

Documents to be Attested in case of Foreign National

Foreign National resident
a) In a country in any part of the Commonwealth, his signatures and address on the memorandum and articles of association and proof of identity with address proof shall be notarized by a Notary (Public) in that part of the Commonwealth.
b) In a country which is a party to the Hague Apostille Convention, 1961, his signatures and address on the memorandum and articles of association and proof of identity with address proof shall be notarized before the Notary (Public) of the country of his origin and be duly apostilled in accordance with the said Hague Convention.
c) Other than above - shall be attested by Indian Embassy in that country.

Documents required from Foreign Director

1. Photograph
2. Copy of Passport
3. Copy of Address proof (Bank Statement, Driving License or utility bill no more than 2 months old ).

These documents must be notarized by Public Notary and be apostilled by the competent authority in their country of residence.

What are the educational/ qualification requirements for a person to become promoter/ first director of a public limited company?

There is no legal mandatory requirement regarding educational qualification for being a promoter/ director but it is advisable that person should be literate and able to read, write and understand the language of the concerned area. However if one is appointed as professional director, then must get covered under the definition of professional.

Can two relatives form a public limited company and in how many companies one can hold directorship?

Yes, even real family members can also form a public limited company provided that in case of public company one person can hold only up to 10 directorship, as compared to Private limited company in which on can hold up to 20 directorship

If I incorporate my company from your site am I accountable to DELHI ROC or ROC of my area?

No, a company incorporated is aligned with the Concerned ROC of State in which Registered office of the company is situated not from where it has applied its incorporation furthermore as incorporation process is an Online, you can apply from anywhere from India for incorporation of a company in anywhere in India

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