How Many People are Required to Start a Public Limited Company
To incorporate a Public limited company, a minimum of 3 people are required. A Public limited company must have a minimum of three Directors and can have upto a maximum of fifteen Directors. A minimum of two shareholders and a maximum of upto 200 shareholders are allowed.
Who Can be a Director
The Director needs to be over 18 years of age and must be a natural person. There are no limitations in terms of citizenship or residency. Therefore, even foreign nationals can be Directors in a Indian Private Limited Company.
What is the Capital required to start a Company?
You can start a Limited Company with any amount of capital. As per latest circular, MCA has removed the 1 Lakh Capital Clause. Now a public limited company can be incorporated with less than 1 Lakh Rupees also.
Can we open Limited company at Residential House
Yes you can register a company in any part of India, Residential Commercial or Industrial.
How will Mycorporation help me Register, I am not in Delhi
Your Physical presence is not required as all the procedural requirements will be fulfilled though Digital & Electronic Mode , documents can be send through courier or scanned copy can also be send through E-mail.
What are the documents Required to Start a Limited Company?
PAN Card and Address proof is mandatory for all the proposed Directors of the Company. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.
How long does it take to Incorporate a Company
We have a record on Incorporating a company in 2 Hours, The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.
How long is the company registration valid?
Company has perpetual succession, that means company can never die. It will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of upto 20 years.
What are the Statutory Compliance's after Incorporating the company
A Public Limited company has to hold at least 4 board meetings in a financial year and 1 in each quarter, furthermore One AGM for each financial year is also mandatory compliance
Can a Non Resident become a Share Holder / Director of a Company
Yes, a NRI or Foreign National can be a Director in a Limited Company after obtaining Director Identification Number. However, atleast one Director on the Board of Directors must be a Resident India. Share Holding is subject to Foreign Direct Investment (FDI) Guidelines.
Documents to be Attested in case of Foreign National
Foreign National resident
a) In a country in any part of the Commonwealth, his signatures and address on the memorandum and articles of association and proof of identity shall be notarized by a Notary (Public) in that part of the Commonwealth.
b) In a country which is a party to the Hague Apostille Convention, 1961, his signatures and address on the memorandum and articles of association and proof of identity shall be notarized before the Notary (Public) of the country of his origin and be duly apostillised in accordance with the said Hague Convention.
c) Other than above - shall be attested by Indian Embasy in that country;
d) Foreign subscriber can visit India on Business Visa
Documents required from Foreign Director
1. Copy of Passport
2. Copy of Address proof (Bank Statement or Driving License)
What are the educational/ qualification requirements for a person to become promoter/ first director of a public limited company?
There is no legal mandatory requirement regarding educational qualification for being a promoter/ director but it is advisable that person should be literate and able to read, write and understand the language of the concerned area.
Can two relatives form a public limited company and in how many companies one can hold directorship?
Yes, even real family members can also form a public limited companyn provided that in case of public company one person can hold only upto 10 directorship as compared to Private limited company in which on can hold upto 20 directorship
If I incorporate my company from your site am I accountable to DELHI ROC or ROC of my area?
No, a company incorporated is aligned with the Concerned ROC of State in which Registered office of the company is situated not from where it has applied its incorporation furthermore as incorporation process is an Online one, you can apply from anywhere from India for incorporation of a company in anywhere in India
