Public Limited Company

To establish a Public Limited Company, the setup must meet these foundational statutory parameters:

Shareholders/Members: Minimum of 7 shareholders required, with no upper limit on the maximum number. Shareholders can be individuals or corporate bodies.
Directors: Minimum of 3 directors required (maximum up to 15).
Resident Director: At least one director must be a resident of India (stayed in India for not less than 182 days—or 120 days in certain classifications—during the previous financial year).
Capital Requirement: There is no minimum paid-up capital requirement under current regulations (the historical ₹5 lakh requirement has been removed).
Name Guidelines: The proposed name must be unique, not violate existing trademarks, and must end with the word "Limited".

All documents must be clear and legally valid for online submission.

For Directors and Shareholders (KYC):
1. PAN Card: Mandatory for all Indian nationals.
2. Identity Proof: Aadhaar Card, Voter ID, Passport, or Driving License.
3. Address Proof: Latest bank statement, electricity bill, or telephone/mobile bill (not older than 2 months).
4. Photographs: Passport-size color photos of all directors/shareholders.
5. Digital Signature Certificate (DSC): Class 3 DSC tokens for all proposed directors and subscribers to sign electronic documents.
  (Note: If a corporate body is a shareholder, its Board Resolution, corporate PAN, and representative details are required).
For the Registered Office Address:
1. Utility Bill: Electricity or gas bill (not older than 2 months).
2. Ownership / Rental Proof: Sale deed (if owned) or Rent Agreement (if leased).
3. No Objection Certificate (NOC): Written permission from the property owner allowing the premises to be utilized as the registered office.

The incorporation process is completely electronic through the MCA portal using the SPICe+ unified web form:

Obtain Digital Signature Certificates (DSC): Secure Class 3 DSCs for all mandatory directors and subscribers.
Name Reservation (SPICe+ Part A): Apply for and reserve the company name via the MCA portal.
Draft Constitutional Documents: Prepare the Memorandum of Association (MoA) and Articles of Association (AoA) outlining the company’s structural objectives and internal bylaws (filed as electronic forms INC-33 and INC-34).
Submit SPICe+ Part B & Supporting Filings: File the comprehensive incorporation application, attaching director KYC credentials, registered office paperwork, declaration forms (INC-9, DIR-2), and professional certifications.
Issue of Certificate of Incorporation (COI): Upon verification by the Registrar of Companies (RoC), the COI is issued alongside a unique Corporate Identification Number (CIN), PAN, and TAN.

Ability to Raise Public Capital: Unlike private companies, a PLC can issue a prospectus and invite the general public to subscribe to its shares, or list on stock exchanges via an Initial Public Offering (IPO).
Limited Liability: The financial liability of members and shareholders is strictly limited to the nominal value of shares they hold, protecting their personal assets.
Free Transferability of Shares: Shares in a public company can generally be freely traded and transferred, providing high liquidity for investors.
Enhanced Corporate Credibility: Due to strict regulatory disclosures and higher transparency, PLCs enjoy immense trust from financial institutions, large vendors, and enterprise clients.
Perpetual Succession: The organization operates as a distinct legal entity; its existence is unaffected by changes in membership, management turnover, or the death of stakeholders.