Public Limited Company Registration: Benefits, Procedure, Best Price

Public Limited Company Registration Online India: Best Price Guarantee

Public Limited Company Registration is a crucial step for businesses looking to raise capital from the public and expand their operations. This comprehensive guide will walk you through the process of Public Limited Company Registration in India, including its benefits, eligibility criteria, required documents, and mandatory compliance. We will also discuss the services offered by MyCAfiling, which provides registration at the lowest cost.

Online Public Limited Company Registration in India

In today’s digital age, registering a Public Limited Company online has become a streamlined and efficient process. The Ministry of Corporate Affairs (MCA) facilitates online registration through its MCA21 portal. MyCAfiling offers expert assistance to ensure a smooth and hassle-free online registration process.

Applicable Rules, Acts, and Regulations

Public Limited Company Registration is governed by several rules, acts, and regulations, including:

• Companies Act, 2013: This is the primary legislation governing company registration and management in India.
• Securities and Exchange Board of India (SEBI) Regulations: These regulations are essential for companies intending to issue shares to the public.
• MCA Guidelines: The Ministry of Corporate Affairs provides guidelines for the incorporation and regulation of companies.

What are the Benefits of Public Limited Company Registration in India?

Registering a Public Limited Company offers several advantages:

1. Access to Capital

A Public Limited Company can raise capital by issuing shares to the public, enabling significant capital accumulation for business expansion.

2. Limited Liability Protection

Shareholders’ liability is limited to the amount they invest in the company, protecting personal assets from business liabilities.

3. Enhanced Credibility

Public Limited Companies are subject to stringent regulatory scrutiny, enhancing credibility and trust with investors, customers, and suppliers.

4. Perpetual Succession

The company’s existence is not affected by changes in ownership or management, ensuring business continuity.

5. Easy Transferability of Shares

Shares of a Public Limited Company can be easily transferred, providing liquidity and flexibility to shareholders.

Eligibility for Public Limited Company Registration

To be eligible for Public Limited Company Registration, the following criteria must be met:

• Minimum of 7 Shareholders: A Public Limited Company must have at least seven shareholders.
• Minimum of 3 Directors: At least three directors are required, one of whom must be a resident of India.
• Unique Company Name: The name should be unique and not similar to any existing company or trademark.
• Registered Office Address: A registered office address within India is mandatory.
• Compliance with Regulatory Requirements: The company must comply with SEBI regulations and other applicable laws.

Types and Distinctions of Licenses/Services Involved

Several licenses and services are involved in Public Limited Company Registration:

• Digital Signature Certificate (DSC): Required for signing electronic documents.
• Director Identification Number (DIN): Required for all directors.
• Name Approval: The company name must be approved by the Registrar of Companies (ROC).
• Certificate of Incorporation: Issued by the ROC upon successful registration.
• SEBI Registration: Required for companies issuing shares to the public.

Documents Required for Public Limited Company Registration in India

Here is the list of documents needed for registration:

1. Identity Proof: PAN card and passport (for foreign nationals) of directors and shareholders.
2. Address Proof: Aadhaar card, voter ID, passport, or driving license of directors and shareholders.
3. Residential Proof: Recent utility bills (electricity bill, telephone bill) or bank statements.
4. Registered Office Address Proof: Rent agreement and no-objection certificate (NOC) from the property owner, along with utility bills.
5. Photographs: Passport-sized photographs of directors and shareholders.
6. Digital Signature Certificate (DSC): DSC for all proposed directors.
7. Director Identification Number (DIN): DIN for all proposed directors.

Procedure for Public Limited Company Registration

The registration process involves several steps:

1. Obtain Digital Signature Certificate (DSC)

All directors must obtain a DSC from a certified authority to sign electronic documents.

2. Obtain Director Identification Number (DIN)

Apply for DIN for all proposed directors through the MCA portal.

3. Name Reservation

Propose up to two names for your company and apply for name reservation through the RUN (Reserve Unique Name) service on the MCA portal. The name should be unique and comply with MCA guidelines.

4. Drafting of MOA and AOA

Prepare the Memorandum of Association (MOA) and Articles of Association (AOA) defining the company’s objectives and internal rules.

5. Filing of Incorporation Form

Complete and file the SPICe+ (Simplified Proforma for Incorporating Company Electronically) form on the MCA portal, along with the required documents and fees.

6. Issuance of Certificate of Incorporation

Upon verification of documents, the Registrar of Companies (ROC) issues the Certificate of Incorporation, marking the official formation of the company.

Validity and Renewal for the Registration of Public Limited Company

The registration of a Public Limited Company is valid as long as the company complies with all regulatory requirements and filings. There is no need for renewal of the registration itself, but the company must adhere to ongoing compliance obligations.

Suspension/Revocation of Service

Non-compliance with regulatory requirements can lead to suspension or revocation of the company’s registration. It is essential to maintain regular filings and adhere to SEBI and MCA regulations to avoid such penalties.

Mandatory Compliance

Public Limited Companies are required to comply with several mandatory regulations:

• Annual General Meeting (AGM): Must be held every year within six months from the end of the financial year.
• Annual Returns: Filing of annual returns with the ROC is mandatory.
• Financial Statements: Preparation and filing of audited financial statements.
• Board Meetings: Regular board meetings must be conducted.
• Statutory Registers: Maintenance of statutory registers and records.

How Does MyCAfiling Help in the Public Limited Company Registration Process?

MyCAfiling provides comprehensive services to help you register your Public Limited Company with ease. Here’s how MyCAfiling can help:

• Expert Consultation: Get expert advice on choosing the right business structure and understanding the registration process.
• Document Preparation: Assistance with the preparation and verification of necessary documents.
• Name Reservation: Help with choosing a unique company name and reserving it through the MCA portal.
• MOA and AOA Drafting: Professional drafting of the Memorandum of Association and Articles of Association.
• Filing Assistance: Guidance on filling out the SPICe+ form and submitting it to the MCA portal.
• Compliance Support: Ongoing support for meeting compliance requirements post-registration.

Registering a Public Limited Company with MyCAfiling ensures a hassle-free process, allowing you to focus on growing your business. With MyCAfiling, you can register your company at the lowest cost in the market. So, register with MyCAfiling today and take the first step towards building your business empire.

Conclusion

Public Limited Company Registration is an essential step for businesses looking to raise capital from the public and expand their operations. By following the steps outlined in this guide and leveraging the expertise of MyCAfiling, you can ensure a smooth and efficient registration process.

Don’t hesitate to register your Public Limited Company with MyCAfiling today and take advantage of our affordable and reliable services. Whether it’s company registration, compliance support, or other business needs, MyCAfiling is your trusted partner in business success.

FAQs

1. What is a Public Limited Company?

A Public Limited Company is a type of business entity that offers shares to the public and has limited liability protection for its shareholders.

2. How many directors are required for a Public Limited Company?

A minimum of three directors is required for a Public Limited Company.

3. Can a foreign national be a director in a Public Limited Company?

Yes, a foreign national can be a director in a Public Limited Company.

4. What is the minimum number of shareholders required?

A minimum of seven shareholders is required to form a Public Limited Company.

5. What is the difference between a Private Limited Company and a Public Limited Company?

The primary difference is that a Public Limited Company can offer shares to the public, while a Private Limited Company cannot.

6. What is the role of SEBI in Public Limited Company Registration?

SEBI regulates the issuance of shares and ensures compliance with securities laws for Public Limited Companies.

7. How long does it take to register a Public Limited Company?

The registration process typically takes 15-20 days, depending on the completeness of documents and regulatory approvals.

8. Is a physical office required for a Public Limited Company?

Yes, a registered office address within India is mandatory.

9. What are the ongoing compliance requirements?

Public Limited Companies must comply with annual filings, financial statements, AGMs, and board meetings.

10. How can MyCAfiling help in the registration process?

MyCAfiling offers expert consultation, document preparation, name reservation, and filing assistance to ensure a smooth registration process.