Public Limited Company

What is a Public Limited Company?

A Public Limited Company provides limited responsibility to the owners and management. A Public Company allows a firm to sell shares to investors it helps in RAISING CAPITAL FUNDS. A minimum of three Directors are required to run a Public Limited Company and it is said to be more strict regulatory requirements as compared to a Private Limited Company. Public Limited Companies are the type of companies where a minimum number of members in the company should be seven and there is no limit on the maximum number of members. A Public Limited Company is similar to Private Limited Companies and hence has all the benefits of a Private Limited Company and the ability to have any number of members, ease in transfer of shareholding and more transparency

Factors to register for Public Limited Property

To establish a Limited Company, a minimum of seven people is a must. A Limited Company must have a minimum of three Directors and seven shareholders. The Director needs to be over 18 years of age. There are no limitations in terms of citizenship or residency. Therefore, even foreign nationals can be Directors of a Public Limited Company. Limited Company can be started with any amount of capital. However, a fee must be paid to the Government for issuing a minimum of shares worth Rs.5 lakhs. An address in India where the registered office of the Company will be based out is required. The office premises can be a Commercial /Industrial/Residential where communication from the Ministry of Corporate Officials will be received. Identity proof and address proof is a must for all the proposed Directors of the Company. PAN Card is mandatory for Indian Nationals. In addition, the landlord of the registered office premises must provide an NOC certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof. we can incorporate a Limited Company in around 14-20 days. The time taken for incorporation will depend on the submission of relevant documents by the person and time taken by the Government Approvals. Once a Company is registered as Public limited, it will be active as long as the annual compliances are met regularly. In case, annual compliances are not assembled with, the Company being registered will become a Dormant Company and may be invalid for a specific period of time. The authorized capital of the Company is the number of shares a company can issue to the company’s shareholders. Companies have to pay an authorized capital fee for a minimum of Rs.5 lakhs according to the incorporation rules. It is mandatory for a limited company to conduct a Board Meeting at least once every 3 months along with its Annual General Meeting must be held by the Private Limited Company, at least once every year. Also, it is mandatory to have at least one Director on the Board of Directors to be a Resident of India. There are a few industries that require prior approval from the Reserve Bank of India, in such cases, prior approval must first be obtained from RBI before investment. The NRIs / Foreign Nationals / Foreign Companies are eligible to hold shares of a Limited Company subject to Foreign Direct Investment (FDI) Guidelines.

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