Incorporating a Business
Public Limited Company
When you promote a public limited company, you have the greatest advantage of raising money from a large number of shareholders by listing the company on the Stock Exchange, where the company's shares are traded publicly. Since public money is involved, such companies are tightly regulated and monitored. A public limited company is mandated to publicly disclose its financial position fairly and truthfully enabling investors determine the worth of their stock.
There are many advantages to having a public limited company. First and the foremost, the company is viewed as a distinct legal entity and enjoys all the benefits such as perpetual existence, which means uninterrupted existence till legally dissolved, acquiring and holding assets, suing third parties and creditors, raising fund and limited liability for shareholders.
However, the legal process involving incorporation of a Public Limited Company involves extensive documentations, clearances from various authorities, filing documents with the ROC, follow up with the ROC, preparing & making changes to the MOA / AOA/other Incorporation documents, Certificate obtaining etc. It certainly requires experience and required expertise.
We at My Office Account have proven experience in rendering successful incorporation services to prompters who wanted to establish a Public Limited Company. We will first understand your nature of business, number of directors and subscribers involved, company structure, lines of business, suitable capital structure and other relevant details to finalize the constituents of the Incorporation. We also assist Clients in Planning of their location of Registered Office by indicating suitable office spaces.
|Particulars||Criteria/ Basic Information|
|Directors||Minimum 3 directors, Maximum 50 directors, Minimum Age 18|
|No of Shareholders||Minimum 7 subscribers/shareholders. Maximum No Limit|
|Paid up Share Capital||Minimum 5 lakh|
|DIN Numbers||Director Identification Number required for each Director|
|Digital Signature||Minimum 1 Digital Signature required|
|Type of Directors||Citizens of India can obtain DIN with documents being self attested and Notaries. Foreign Nationals require documents to be attested by Consulate of Indian Embassy or as per the prevailing rule.|
|MOA& AOA||( Memorandum of Association) & ( Articles of Association) MOA covers fundamental objects of the company. AOA contains internal rules and regulations governing the company.|
|Time Period for Certificate of Incorporation||If all Documents* are obtained and company name is unique - 4 to 5 working days without any queries. If there are, 10-15 working days.|
|Certificate of Commencement Of Business||Certificate of Commencement of Business is a mandatory document to be obtained from ROC prior to start of the business operations.|