LIMITED COMPANY REGISTRATION
SMCA Public Limited Company is a Company limited by shares in which there is no restrictions on the maximum number of shareholders. It can offer its shares or debentures to Public can make or accept deposits from 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.
The minimum number of shareholders is 7 and Directors is 3. It also has a minimum share capital requirement of Rs.5, 00,000 (Five Lacs). A Public Limited Company should be registered with Registrar of Companies (ROC) of the respective State under The Companies Act. Public Limited Company:
- Ease of starting – Public Limited Companies is easy to start. Proper guidelines and norms to be followed.
- Taxation – Separate tax return will file. Company tax rates are applicable. Company Can distribute dividend to shareholders after payment of paid taxes. Dividends are exempted from taxes for shareholders.
- Compliances – Higher compliances requirements as compared to other companies like Pvt. Ltd. and OPC and other business entities. Audit of accounts are mandatory even in case of losses.
- Governing law – Followed by Registrar of Companies under Ministry of Corporate Affairs. For listed companies, additional guidelines and compliances are required as per Stock exchange.
- Scope Documents – These types of companies are defined by its Memorandum of Association (MOA), authorities and internal controls, board meeting will be organized as Articles of Association (AOA).
- Control & Authority – The Director, is responsible for day to day activities and functioning in the company. Important decisions of majority depend on share holders as defined by MOA & AOA.
- Credibility – Limited Company has the best credibility and security.
- Liability –The liability of each shareholder is limited and depends on the amount of shares subscribed.
To Start Registration Process of Public Limited Company:
- * Copy of “PAN CARD” of all directors / Promoters.
- * Copy of “ADDRESS PROOF” of all Directors/Share Holders ( Any one)
- * Latest color passport size "PHOTOGRAPH” of all directors / Promoters.
- * Copy of “BANK STATEMENT” of all directors / promoters
- * Copy Registered office “ADDRESS PROOF”
- * Electricity Bill along with Rent Agreement / or
- * Ownership proof of proposed registered office.
o Voter Id
o Driving License
o Aadhar Card