A limited company grants limited liability to its owners and management. Being a public company allows a firm to sell shares to investors this is beneficial in raising capital. A minimum of three Directors are required for establishing a Public Limited Company and it has more stringent regulatory requirements compared to a Private Limited Company.
Public Limited Companies are those types of companies where minimum number of members is seven and there is no cap on the maximum number of members. A public limited company has most of the characteristics of a private limited company. A public limited company has all the advantages of private limited company and the ability to have any number of members, ease in transfer of shareholding and more transparency. Identifying marks of a public limited company are name, number of members, shares, formation, management, directors and meetings, etc.,
For Promoters & Directors
- Minimum three Directors;
- Minimum seven Shareholders;
- At least one Director should be resident in India;
- Directors & Shareholders can be same person;
- No Minimum capital required;
- Self attested copy of PAN of all Shareholders & Directors;
- Self attested copy of Voter ID/Driving License/Passport/Aadhar Card of all Shareholders & Directors;
- Self attest copy of Bank Statement/Electricity Bill/Telephone or Mobile Bill/Gas Bill of all Directors and Shareholders.
For Registered Office
- Rent Agreement/Lease Deed; in case of rented property;
- Sale Deed/House Tax receipt/Electricity Bill; in cse of owned property;
- Copies of Utility Bill (Electricity Bill/Gas Bill/Mobile or Telephone Bill) etc in owner‘s name;
- No objection from the property owner;
Copy of passport is mandatory in case of foreign nationals. In case of foreign nationals and non – resident Indians, all the documents should be notarised or apostilled or counsularised from the Indian Embassy in that country. In case any of the documents are not in English or Hindi, then the certified translation copy should be provided.