REGISTERING A PUBLIC LIMITED COMPANY
Registration as a Public Limited Company in India is another option available for setting up company in India, for carrying on business with limited liability in which there are no restrictions on the maximum number of shareholders. It offers shares for sale to the public, any member of the public willing to pay money may acquire its shares and it can accept deposits from the public and there are no restrictions on the transfer of shares. The liability of each shareholder is limited to the extent of the amount of shares subscribed. However, the liability of a Director/Manager of such a company can at times be unlimited.
For Public Limited Company registration in India the minimum number of shareholders is 7 and Directors is 3. A Public Limited Company should be registered with the Registrar of Companies (RoC) of the respective State. For Public Limited Company registration in Bangalore documents should be filed at the office of Registrar of Companies, Karnataka. However, it is free to do open up branches and do business anywhere in India even if the registration with RoC is on the State level. On approval of Company registration RoC issues the Certificate of Incorporation.
Registering a Public Limited Company defines the formation of a business that enjoys legal acceptability. However Public Limited Company in India has to comply with more legal compliances under the Companies Act compared to Private Limited Company in India. Moreover it is better to follow all the procedures in the company registration bangalore procedures and our team of professionals are skilled and equipped to make the registration happen at ease.
Several provisions contained in the Companies Act are applicable only on Public Limited company and should be consulted post incorporation.
Steps to Incorporate/ Register a Public Limited Company in India:
1. Finalising a company name and address of the registered office or an address for correspondence till registered office is established.
2. Obtaining the Digital Signature for all the Directors and Share holders
3. Obtaining the DIN (Director Identification Number) for every proposed Director of the company (for foreign nationals, copy of passport is a must as Identity Proof and PAN for Indians).
4. Filing for and obtaining name approval for setting up company in India.
5. Filing INC 32, 33 & 34 to register Private Limited Company in India along with applicable fees and stamp duty. PAN & TAN Also gets approved simultaneously.
6. Obtaining the Certificate of Incorporation.
7. Opening Company's Bank Account.
8. Other registrations and Licenses with regulatory authorities as applicable to the company and obtaining the necessary permissions for setting up company in India.
Other Registrations: Professional Tax Registration, Registration under Karnataka Shops & Commercial Establishment Act, Service Tax Registration, VAT Registration, GST Registration, MSME Registration Etc.
A company can be registered without a registered office. Once the company is incorporated within fifteen days it should establish its registered office and within thirty days of incorporation it should furnish to the registrar verification of its registered office. However it has to specify an address while filing incorporation documents for correspondence till the registered office is established.
The general documents required for registering a Public Limited Company in Bangalore and any state of India:
1 ID proof of the proposed Directors and Subscribers / Promoters: PAN Card, Passport. (Income-tax PAN is a mandatory requirement as proof of identity for Indian Directors and passport is a mandatory requirement as proof of identity for foreign nationals/directors.)
2 Address proof of the proposed Directors and Subscribers / Promoters: Passport, Election (voter identity) card, Driving licence, Aadhar Card,
3 Residential Address Proof of the proposed Directors and Subscribers / Promoters: Bank Statement / Electricity Bill/ Telephone Bill/ Mobile Bill. - any one, any one –should be in the name of applicant only, documents should not be older than 2 months from the date of filing of the form.
4 Passport size photographs of the each Director.
5 Complete details about every shareholder/Promoter and/or the Address and ID proofs.
6 Few affidavits & Declarations.
7 Address for correspondence until registered office is established: Instead of having registered office at the date of incorporation, a company may have registered office on and from the 15th day of its incorporation. Verification of registered office has to be filed within 30 days of incorporation. OR Address Proof of Registered office of the company:
a. Utility Bills : Electricity Bill/ Telephone Bill/ Mobile Bill/ Gas Bill - should not be older than 2 months from the date of filing of the form
b. Conveyance/Lease deed/Rent Agreement along with the rent receipts
c. No objection Certificate from the owner of the Building.
d. Specify List of all the companies (Mention their CIN) having the same registered office address, if any;
There are many more details involved when you incorporate or register a public limited company in India. SunShine Corporate Solutions Private Limited has the legal and professional resources to get you through your public limited company incorporation. Our experts have experience with business registrations and we have helped set up businesses in many states all over India. If you are setting up company in India, you might want to contact us and understand how our services can expedite the process of starting your company.