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Overview of Public Limited Company Registration in India

To expand through the sale of public shares, businesses must establish a public limited company (PLC). This enables companies to expand their operations and raise money from a variety of investors. Since public limited company service is defined by the Companies Act of 2013, public limited company registration is essential to the country's economy, the creation of jobs, and innovation.

Registering a public limited company ensures that the business will comply with regulations and increase its appeal to investors. Public limited companies are essential to the nation's advancement of economic development, employment, and innovation. The registration of a public limited company is an essential step in this process as it guarantees legal compliance and provides opportunities for expansion and investment.

Benefits of Public Limited Companies in India

A public limited company (PLC) holds several distinct advantages that make it an appealing choice for entrepreneurs and investors in India. Here are some key benefits of opting for a public limited company structure:

  1. Access to Capital: One of the primary advantages of a PLC is its ability to raise substantial capital by issuing shares to the general public. This capital infusion can be used to fund expansion, research and development, infrastructure development, and other growth initiatives. The larger pool of investors can contribute varying amounts, ensuring a diverse capital base.
  2. Limited Liability: Shareholders of a PLC enjoy limited liability. This means that their personal assets are not at risk in case the company faces financial difficulties or debts. Their liability is restricted to the amount they have invested in the company's shares.
  3. Credibility and Prestige: Public Limited Companies often command a higher level of credibility and prestige in the business world compared to private entities. This credibility can attract larger investments, partnerships, and collaborations, enhancing the company's growth prospects.
  4. Liquidity of Shares: Shares of a PLC are listed on stock exchanges, providing shareholders with the advantage of liquidity. They can buy or sell their shares in the open market, allowing them to realize their investments whenever needed. This liquidity factor makes PLC shares an attractive investment option.
  5. Employee Benefits: Public limited companies can offer employee stock ownership plans (ESOPs) as a form of compensation. This aligns the interests of employees with those of the company and can help retain and motivate valuable talent.

Process of Public Limited company Registration in india

The Process of Public limited Company Registration in India is

Preparation

  1. Assemble Your Team: Gather a team of professionals who will support your registration journey. This might include a lawyer, a chartered accountant, and a company secretary (mandatory for PLCs).

  2. Meet Minimum Requirements: Ensure you meet the essential criteria: 7 shareholders, 3 directors, and a minimum share capital of Rs. 5 lakh.

  3. Gather Documentation: Prepare crucial documents like director IDs, PAN cards, address proofs, and DINs for all directors. Additionally, draft the Memorandum of Association (MoA) and Articles of Association (AoA) outlining your company's objectives and regulations.

  4. Document Filing: Complete and submit the incorporation paperwork to the Registrar of Companies (ROC), whose authority the company's registered office is located. This includes the MOA, AOA, Form SPICe (INC-32), and Form INC-33 (e-MOA). Applications for DIN, name reservations, and company establishment can all be done simultaneously with the help of Form SPICe.

  5. Payment of Registration Fees: Using the company's approved share capital as a guide, pay the required registration fees online.

  6. Verification and Approval: The application and supporting materials for registration will be examined by the ROC. The Certificate of Incorporation will be granted by the ROC if all legal conditions are met.

Registration

  1. Name Approval: Fill up and send in an application utilising Part A of the SPICe+ form, indicating your company's proposed name. Await word on whether the name has been approved by the Ministry of Corporate Affairs (MCA).

  2. Incorporation: Once the name is approved, file the SPICe+ form (Part B). This comprehensive form requires detailed information about your company, including MoA, AoA, authorized capital, and subscribed share capital. Pay the requisite registration fees.

  3. Certificate of Incorporation (COI): Upon successful registration, you'll receive the COI, officially recognizing your company's existence.

Public limited company registration

Documents Required for Public Limited Company Registration

Starting a Public limited company (PLC) in India is exciting, but navigating the registration process can feel daunting. Fear not, aspiring entrepreneur! This guide will shed light on the essential public limited company registration documents you need to have in order, to make your journey towards incorporation smoother and hassle-free.

So, what documents do you need to have ready? Buckle up as we delve into the crucial categories:

1. Director Essentials

  • Identity and Address Proof: PAN card, Aadhaar card, and address proof for all directors (passport for foreign nationals).

  • DIN (Director Identification Number): Mandatory for each director.

  • DSC (Digital Signature Certificate): One director needs a DSC for online filings.

2. Company Cornerstones

  • MoA (Memorandum of Association): Defines the company's core objectives and powers.

  • AoA (Articles of Association): Outlines internal rules and regulations for operating the company.

3. Name and Registration

  • SPICe+ Form (Part A): Used for proposing your preferred company name.

  • SPICe+ Form (Part B): Submitted with detailed company information, MoA, AoA, and fees for incorporation.

4. Post-Registration Formalities

  • PAN and TAN: Applications for Permanent Account Number and Tax Deduction Account Number.

  • INC-22 Form: Filed within 30 days of incorporation to initiate business operations.

    Public Limited Company Registration Fees 

    While embarking on the exciting journey of establishing a Public Limited Company (PLC) in India, understanding the public limited company registration fees is crucial for proper planning and budgeting.

    1. Government Fees

    • Registration Fee: This depends on the authorized share capital of your company

      • Up to Rs. 5 lakh: Rs. 4,000

      • Rs. 5 lakh to Rs. 10 lakh: Rs. 7,500

      • Above Rs. 10 lakh: Rs. 15,000

    • Stamp Duty: Varies by state, typically ranging from Rs. 50 to Rs. 1000

    • Other Statutory Fees: Additional charges for forms, filings, and certifications might apply.

    2. Professional Fees

    • Company Secretary Fees: Engaging a qualified company secretary is mandatory for PLCs, and their fees vary based on experience and scope of work.

    • Legal Advisor Fees: Consultation with a lawyer for drafting legal documents and navigating regulations incurs additional costs.

    • Registration Service Provider Fees: If opting for assistance from a professional service provider, expect fees for handling the registration process.

    3. Other Costs

    • Digital Signature Certificate (DSC): Rs. 1000–Rs. 2000

    • Bank Account Opening Charges: Initial charges and minimum balance requirements vary by bank.

    • Printing and Miscellaneous Expenses: Printing documents, courier charges, and other incidental expenses add up.

Procedure for Public Limited company Registration in india

Here is the simple procedure for registration of a public limited company in India

Preparation

  1. Obtain a Digital Signature Certificate (DSC): One director will need a DSC for online filings.

  2. Director Identification Number (DIN): All directors require a DIN to act as directors.

  3. Compliance with Minimum Requirements: Ensure you meet the minimum requirements: 7 shareholders, 3 directors, and a minimum share capital of Rs. 5 lakh.

  4. Draft Memorandum of Association (MoA) and Articles of Association (AoA): These documents define the company's objectives and internal rules.

Registration

  1. Name Approval: Apply for your preferred company name through the SPICe+ form (Part A).

  2. Incorporation: Once the name is approved, submit the SPICe+ form (Part B) with company details, MoA, AoA, and other required documents. Pay the registration fee.

  3. Certificate of Incorporation (COI): Upon successful registration, you'll receive the COI, making your company legally recognized.

Post-Registration

  1. PAN and TAN: Apply for a Permanent Account Number (PAN) and Tax Deduction Account Number (TAN) for the company.

  2. Commencement of Business Certificate: File form INC-22 within 30 days of incorporation to initiate business operations.

  3. Banking and Statutory Compliances: Open a bank account, appoint auditors (if required), and comply with statutory filings and returns.

Why Choose Taxlegit for Public Limited Company Setup?

Taxlegit provides expert advice and support for setting up a public limited company (PLC) in India. Their group of seasoned experts offers complete assistance at every stage of the procedure, including company incorporation, regulatory compliance, and final listing. By utilizing their vast experience and effective approach, Taxlegit ensures a smooth and worry-free PLC setup.

FAQ's

Directors can be individuals over 18 years old with a Director Identification Number (DIN).

With the Companies (Amendment) Act, 2015, the concept of minimum authorized capital was eliminated.

Yes, foreign nationals can be directors, provided they meet the necessary legal requirements.

PLCs must adhere to annual filing of financial statements, annual returns, and other compliance as per the Companies Act.

Yes, a PLC can change its registered office by following the legal process and notifying the RoC.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

A Orixy has its own IP address, which is made public instead. While a rather seemingly insignificant change, the Orixy IP address can be used for a number of vital business functions related to everything from security to customer experience.

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