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Public limited company registration
A public limited company is registered under the Companies Act, 2013 for businesses that need large capital and may want to raise money from the public. It needs at least seven members and three directors and has no upper limit on members. ISPEED prepares the DSC, DIN, name approval, MOA and AOA and files for incorporation, PAN and TAN.
What you get
- Digital signature certificates for three directors
- Director identification numbers for three directors
- Company name approval from MCA
- Memorandum and articles of association drafted and filed
- Certificate of incorporation
- PAN and TAN of the company
- Help with opening the company bank account
For whom
- Businesses with seven or more promoters and high capital needs
- Companies that may list on a stock exchange later
- Groups that want no upper limit on the number of shareholders
Time
10 to 15 working days
Professional fee
From Rs. 4,999
plus government fees. Plus GST at 18 percent on the fee.
What it costs all-in, in your state
Government fees and stamp duty change by state and by authorised capital. This adds them to the professional fee so you compare on the real number.
Estimate
Public limited company in Maharashtra
Professional fee
Rs. 4,999
Public limited company registration, professional fee
Fixed fee. GST is added below.
Rs. 4,999
Government fees (estimate)
Rs. 6,975
Digital signature certificate, 3 people
Rs. 1,500 per person. Class 3, valid for two years.
Rs. 4,500
Name reservation
SPICe+ Part A. Two proposed names per application.
Rs. 1,000
MCA filing fee (SPICe+, MOA, AOA)
MCA charges no filing fee for authorised capital up to Rs. 15 lakh.
Rs. 0
Stamp duty on the SPICe+ form
Rs. 100
Stamp duty on the memorandum (MOA)
Rs. 200
Stamp duty on the articles (AOA)
AOA at Rs. 1,000 for every Rs. 5 lakh of authorised capital. Minimum Rs. 1,000, maximum Rs. 50,00,000.
Rs. 1,000
PAN application
Applied with the incorporation form.
Rs. 110
TAN application
Rs. 65
GST
Rs. 900
GST at 18 percent on professional fees
No GST on government fees or stamp duty.
Rs. 900
All-in total
Rs. 12,874
Government fees are estimates and are confirmed before filing. The professional fee is fixed.
- Registered office in Maharashtra. Stamp duty follows that state's schedule on the filing date.
- Authorised capital of Rs. 1,00,000.
- 3 directors. DSC is priced per person and is valid for two years.
- SPICe+ allots DIN for up to 3 directors at no separate fee.
- Government fees are estimates and are confirmed before filing. The professional fee is fixed.
- Based on authorised capital and the number of people entered. Change either and the estimate updates.
- Valid for 30 days.
What it is
A public limited company is a creation of law. It is registered under the Companies Act, 2013 and the rules made under it. Any seven or more persons can form one, and there is no limit on the number of members. The name ends with 'Limited'.
The earlier requirement of Rs. 5 lakh minimum paid-up capital was removed by the Companies (Amendment) Act, 2015. This structure suits businesses that operate at scale, need large capital, and want the option of inviting the public to subscribe to shares or listing on a stock exchange later.
Requirements
- At least seven members and three directors. Members can be individuals or companies.
- At least one director must have stayed in India for 182 days or more during the financial year.
- A DSC for every director who signs the forms and a DIN for every director.
- A registered office in India with proof of address and a no objection certificate from the owner.
- A unique name ending with 'Limited' that is not similar to an existing company, LLP or trademark.
- Heavier ongoing compliance than a private company: statutory audit, at least four board meetings a year, an AGM, and additional rules once paid-up capital or turnover cross the limits set for independent directors, a company secretary and internal audit.
Benefits
- Limited liability: shareholders are responsible only up to the amount unpaid on their shares. Personal assets stay safe.
- Free transferability of shares: shares of a public company can be transferred without the restrictions that apply in a private company.
- Higher credibility with banks, investors and large customers, which makes it easier to borrow and raise capital.
- Perpetual succession: members can join or leave without affecting the existence of the company.
- Borrowing capacity: the company can issue secured and unsecured debentures and, subject to the rules, accept deposits from the public.
- Tax treatment: the company is taxed on its profits and director salaries are deductible expenses.
How it happens
- 01
Apply for digital signatures
E-filing with MCA needs a DSC for each director. Identity proof, address proof and a photo are submitted, followed by video verification as required by the Controller of Certifying Authorities.
- 02
Get director identification numbers
A DIN is the unique number allotted to a director of a company or a designated partner of an LLP. For a new company, DINs for up to three directors are allotted through the SPICe+ form. Other directors apply separately in DIR-3 after incorporation.
- 03
Reserve the company name
Every company registering in India must get its name approved by the Registrar. The name should be new and unique and should not closely resemble an already registered company or trademark. Up to two names are proposed in SPICe+ Part A, and the approved name is reserved for 20 days.
- 04
Prepare the incorporation documents
The MOA records the name, objects, state of registration, authorised capital and the declaration that the company is limited. The AOA contains the internal rules. All seven or more subscribers sign the MOA and AOA, which are filed with the Registrar.
- 05
File for the certificate of incorporation
Based on the declarations and information in the application, the Registrar registers the company and issues the certificate of incorporation, which is conclusive proof of incorporation. PAN and TAN are allotted with it. The company must then file the declaration of commencement of business in INC-20A within 180 days.
Documents you will need
- Two colour passport size photographs of each director and shareholder
- Identity proof of each director and shareholder: Aadhaar card, passport, driving licence or voter ID card
- Address proof of each director and shareholder: bank statement or passbook, electricity bill, telephone bill or any other utility bill, not older than two months
- PAN card of each director and shareholder. The name must match the income tax database.
- Proof of the registered office address: sale deed, electricity bill, property tax receipt or any other utility bill
- No objection certificate from the owner of the premises where the registered office will be located
Questions
How many members and directors does a public limited company need?
At least seven members and at least three directors. There is no upper limit on members.
Is there a minimum capital?
No. The old minimum of Rs. 5 lakh was removed in 2015. The authorised capital is chosen by the promoters and affects the government fee.
Can a foreign national be a director or a shareholder?
Yes. A foreign national can be a director once a DIN is allotted and can subscribe to shares, subject to foreign investment rules for the sector. At least one director must be resident in India.
Does every director need a DSC?
Yes. Under the Companies Act, 2013 every director who signs e-forms needs a DSC so that MCA can verify the documents filed.
What must be displayed after incorporation?
The company name, registered office address, CIN, telephone number, email and website must be displayed outside the registered office and printed on letterheads, invoices and notices.
Must records be kept in electronic form?
It is mandatory for every listed company, and for a company with one thousand or more shareholders, debenture holders or other security holders, to keep its records in electronic form. Other companies may do so voluntarily.
People also need
Private limited company registration
Register a private limited company with MCA and receive the certificate of incorporation, PAN and TAN.
plus government fees
Section 8 company registration
Register a not-for-profit company under section 8 of the Companies Act, 2013 with a licence from MCA.
plus government fees
Annual ROC compliance
Keep your private limited company, OPC or LLP in good standing with every annual ROC filing done on time.
per year for a private limited company; LLP annual filings from Rs. 18,000
Tell us what you are starting.
You get the all-in price, the government fee for your state and the list of documents the same day. Then you decide.