A Public Limited Company is a separate legal business entity having limited liability. The securities of a Public limited company are traded on a stock exchange. In order to register as a Public Limited Company, the company must have a minimum of 3 Directors and 7 Shareholders. And should also have Rs 5 Lakhs as Paid-up Capital.
Follow the steps to register a Public Limited Company:
Obtain DSC of at least one director to sign the E-forms related to incorporation.
For DIN application you will require Identity Proof and Address Proof. Every Director proposed to be appointed in the company should hold a valid DIN.
Click on RUN (Reserve Unique Name) under MCA Services on the MCA website.
Under entity type select Public Limited Company.
You don’t need to add CIN since it for existing registered companies.
Enter the proposed name make sure it is not similar to the existing name.
Click on the Auto check.
Further, if the name matches an entry in the database, it will show an error. Once the proposed name is error-free, you need to pay a minimum amount of Rs. 1000 run the similarity test and to reserve the name.
Download all the forms of incorporation on MCA Website.
For application of licence for Public Limited Company.
Upload these form on MCA Website.
Yes, there is no legal hurdle. However employment agreement may have some restriction.
Following are the primary requirements of Public Company:
– The minimum number of shareholders must be 7.
– File accounts within 6 months of the year-end.
– The minimum Paid-up share capital must be Rs. 5 lakhs.
– The minimum number of Directors is 3.
Yes, an NRI or Foreign National can also be a shareholder or director in a Public Limited Company of India. However, for becoming a director, such a person must possess the DIN issued by MCA.