The company which is limited by shares and whose name ends with ‘Limited’ is Public Limited Company. The public limited company is formed with a minimum of 7 Members and 3 Directors. There is no restriction on the maximum number of members. A public limited company can offer its shares to the public and accept deposits from it and there is no restriction on the transference of shares. Minimum capital requirement for such type of company is 50,000.

The registered office is the official address of the company where all statutory documents from Companies House will be sent and which will appear on all public documents.

In the case of public limited company FDI is allowed in both automatic route and approval route same like private limited company. The foreign partner can only bring in the capital in the form of cash through inward remittance under the automatic route. Remittance of any non-cash consideration for holding equity in the venture will require specific approval.

In the case of a Public Limited incorporation minimum, three directors are required and 7 shareholders This criterion has been retained by the new Act, but the maximum limit of directors on the Board has now been raised from 12 to 15.

No, for starting a business with the tag of a public limited company first you need a certificate of registration by the register of the company. For the financial transaction, after COI you also need the hard copy of PAN card or PAN number of a public limited company for opening current account of the company.

Based on the requirement of obtaining diverse requisite documents, authenticity of the documents submitted by the directors/shareholders, the speed of processing and filing forms & documents, and the briskness of the proceeding performed by the concerned government authorities, the approximate time taken by the entire procedure for incorporation may range from One to Two Weeks.