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A public limited company is one of those entities that can be formed voluntarily by seven or more members. The best part is that such companies are open to the outsider for trading shares. Unlike a private limited company, these companies are eligible to accumulate funds from outsiders without obtaining approval from their members. If you are willing to obtain such companies' registration, there are some mandatory requirements you need to fulfill. This blog will explain everything regarding Online Public Limited Company Registration Requirements in detail.Before discussing the registration process, let's understand what type of documentation is required to fulfill such requirements. Documentation required for Public Limited Company Registration ● Identity proof of all the directors and members such as voter ID, PAN card, DL, or Aadhaar card. ● Address proof related to the company’s core members, such as directors and shareholders. ● Residential proof of a registered office in the form of utility bills such as phone, gas, electricity, & water. Make sure you are having the latest copy of the bill for the verification process. ● A No-Objection Certificate (NOC) furnished by the actual owner of the registered office. ● Directors Identification Number (DIN) along with Digital Signature Certificate (DSC). ● Memorandum of Association (MOA). ● Article of Association (AOA). Prerequisites regarding Online Public Limited Company RegistrationMinistry of corporate affairs has laid down some provisions for the registration of the public limited company. Those are as follows:- ● Minimum of 7 shareholders and 3 directors are required for the Incorporation of a Public Company ● The applicant must furnish a Digital Signature Certificate (DSC) for one director to verifying & approving documents via digital signature. ● The company’s director must obtain DIN (Director Identification Number) ● The applicant must furnish an application that reflects the company's object clause. It must contain all the necessary information, like mission, vision, and role of the company's director. ● An application shall be furnished to ROC (Registrar of Companies) attached with the required documents like MOA, AOA. Note on Filing Form SPICe+: You can now file the SPICe+ form to avail the company incorporation certificate once the company’s name has been approved. Along with it, you have to file all the necessary documents such as MOA (Memorandum of Association) and AOA (Article of Association) which contains the details of the objectives, mission,aims, business activities, and visions, responsibilities of all the directors and shareholders and definition of the proposed Public Limited Company. Procedure for Obtaining Registration of Public Limited CompanyHere is the incorporation steps for Public Limited Company in detailed. Obtain DSC & DINThe registration process initiates with the obtainment of DSC (Digital Signature Certificate) for the company’s director. The same is required for the authorization of the document via digital signature. DSC is an extremely important document furnished by the certified authority. Moreover, entities appointed to manage the company’s operation are required to obtain Director Identification Number without exception. Thanks to MCA for simplifying this process by furnishing the SPICe+ form. Finding and Registering the Company’s NameIn the second step, the applicant needs to visit the Ministry of Corporate Affairs' official website to check name availability. To do so, simply open the MCA portal, select MCA service, and then check the name availability. Make sure that name should be unique to avoid the conflicts with the given provisions. Filing Form SPICe+In this step, you will require to avail Certificate of Incorporation by filling the SPICe+ form available on the MCA’s website. The filling process seeks some important documentation, including MOA and AOA. The MOM & AOL usually contain different info such as the objective, vision of the company, mission, roles of core members, etc. Obtaining Certificate of IncorporationOnce the relevant authority completes the verification process of all the documents and applications, the Certificate of Incorporation awarded to the company consolidates the details like CIN, aka Corporate Identification Number & Date of Incorporation. Availing PAN & TAN As soon as the company receives the Certificate of Incorporation, its core members, including directors, can avail PAN and TAX. For that, the applicant needs to hover to the MCA’s official website where a form needs to be filled and submitted to serve this purpose. Opening of a Bank Account The last step in this process is to open a legit bank account for the company's financial transactions. Opening of a bank account seeks some mandatory documents, including PAN cards and Certificate of Incorporation (COI). Mandatory inclusions ● 3 Digital Signature Certificate (DSC) ● 3 Director Identification Number (DIN) ● Reservation of Company Name ● AOA and MOA ● Corporate Identification Number (CIN) ● PAN and TAN of the company ● Company Agreement Conclusion Documentation plays a vital role in the Public limited company registration process. The registration process mentioned above seeks accurate information and legit evidence to ensure hassle-free approval from the relevant authority. Make sure to adopt a clear approach while fulfilling such requirements, or else you will land yourself on the zone of complexity and never-ending loop of tedious paperwork. To ease out such difficultly, we would recommend to you opt for professional help. Kindly drop us your feedback just in case if you need some assistance regarding Online Public Limited Company Registration Requirements. We would be obliged to help you out.
4 Comments
11/10/2021 03:08:43 pm
Very delighted to come across this useful article. The Ministry of Corporate Affairs has notified an amendment in the Companies (Specification of Definitions Details) Rules, 2014 that came into force on 1st April 2021. Since I have gone through your blog and found it informative, I would be glad if you visit my blog and share your valuable comments : https://bit.ly/3H5Jmc1
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2/16/2023 01:09:00 pm
Thanks for sharing your ideas and thoughts! In order to create a one-stop digital property for multiple products - current accounts, loans, mortgages etc - to avoid in person visits to physical locations whilst meeting KYC compliance.Implement OCR Labs as their identity verification process and saw application times and abandonment rates drop dramatically.
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7/6/2023 11:27:12 am
We can register your company in 5 minutes and you should receive your certificate of incorporation within hours. If you have any questions or would like to discuss your needs further,
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2/27/2024 11:43:10 am
Registering a company involves legally establishing a business entity with a governing authority, typically a government agency. This process entails selecting a business structure, choosing a name, completing registration forms, and paying associated fees. Additionally, businesses may need to obtain licenses, permits, and tax identification numbers based on their location and industry. Proper registration ensures legal recognition and compliance with regulatory requirements, providing a foundation for conducting business operations transparently and effectively.
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