The catch? Indian company law terminology, Registrar of Companies (ROC) processes, and cross-border documentation confuse most US founders trying to register remotely. Which forms need apostilling? Who needs to be in India? How long does it actually take?
This guide breaks down what a PLC is, how it stacks up against other structures, what you'll need, what it costs, and the exact steps to register one from the USA.
Key Takeaways
- PLC minimums: 7 shareholders and 3 directors, with public capital-raising a Private Limited Company cannot do
- US citizens and entities can hold significant equity in most sectors under FDI and RBI/FEMA rules
- File on the MCA SPICe+ portal; expect 3–4 weeks once apostilled documents are ready
- Typical total cost: $700–$1,500, based on authorized capital and document legalization
What Is a Public Limited Company (PLC) in India?
Under the Companies Act, 2013, a Public Limited Company is a corporate entity permitted to offer shares to the public and list on a stock exchange. It doesn't have to list immediately. A PLC can remain unlisted while still carrying the enhanced compliance obligations that come with the structure.
The company name must end with "Limited." Once listed, it operates under SEBI disclosure norms covering financial results, material events, and corporate governance.
For US founders, an Indian PLC maps closest to a US public C-Corporation. Indian PLCs can stay unlisted for years and still follow public-company rules on board size and disclosure.
Minimum Structural Requirements
- 7 shareholders minimum (no upper limit)
- 3 directors minimum, at least one of whom must be an Indian resident
- No statutory minimum paid-up capital (the older ₹5 lakh floor was removed by a 2015 amendment)
- Perpetual succession and limited liability protection
Perpetual succession is what US investors usually want: a durable India entity, not a temporary vehicle.
PLC vs. Private Limited vs. OPC: When Does a US Business Need a PLC?
- PLC: large capital raises, multiple institutional investors, or an eventual public listing
- Pvt Ltd: standard subsidiary or joint venture with a handful of shareholders
- OPC: not relevant here; built for single-founder Indian entities, not foreign-promoted structures
Most US companies entering India start with Pvt Ltd. PLC becomes the right call once you outgrow that structure's shareholder cap or need public capital markets access.
Why US Businesses Choose to Register a PLC in India
Access to capital markets is the biggest driver. A PLC can raise funds through public offers, rights issues, and bonus issues, routes a Private Limited Company cannot use. If an IPO on the NSE or BSE is part of your five-year plan, you need this structure from day one, not as a later conversion.
Credibility with institutional partners is the second reason. Indian banks, government tenders, and large enterprise clients often treat PLCs differently because of the stricter disclosure norms attached to the structure.
India's FDI environment supports that ambition. The Department for Promotion of Industry and Internal Trade (DPIIT) reports that India permits FDI up to 100% under the automatic route in most sectors, though sector-specific caps and conditions still apply.
Cumulative FDI equity inflows into India reached $367,435 million between April 2000 and September 2024, according to DPIIT's quarterly fact sheet.
At that scale, larger manufacturing and infrastructure entities also access government incentive schemes more readily when structured as PLCs, because those schemes are built for public-company sized operations.
PLC vs. Other Indian Structures — and the US LLC Parallel
Indian company law recognises several entity types:
- Private Limited Company — most common for foreign subsidiaries
- Public Limited Company — for public capital raising
- One Person Company (OPC) — single Indian resident founder only
- Limited Liability Partnership (LLP) — partnership-style structure with limited liability
- Section 8 Company — non-profit structure
- Branch/Liaison/Project Office — for foreign companies not incorporating locally
Entity formation runs both ways. A US promoter can register a PLC in India, and an Indian resident can register a US LLC or C-Corp from India, with no citizenship restriction under most state formation statutes.
| Feature | PLC (India) | Pvt Ltd (India) | OPC (India) | US LLC |
|---|---|---|---|---|
| Minimum members | 7 | 2 | 1 | 1 (most states) |
| Minimum directors | 3 | 2 | 1 | No board required |
| Public capital raising | Yes | No | No | No (private) |
| Liability | Limited | Limited | Limited | Limited |
| Compliance burden | High | Moderate | Low | Low-moderate |
One key distinction: a US LLC's pass-through taxation has no direct Indian equivalent. Indian PLCs are taxed as corporate entities regardless of whether they're listed, so there's no "check-the-box" flexibility like American founders might expect from a US LLC.
Requirements, Documents & Cost From the USA
Core Requirements
- 7 shareholders and 3 directors (statutory minimums for a public limited company)
- At least 1 Indian resident director (must have stayed in India for at least 182 days in the financial year)
- Registered office address in India
- Digital Signature Certificate (DSC) and Director Identification Number (DIN) for every director
Charter Documents
You'll need a Memorandum of Association (MOA), which defines the company's objectives, and Articles of Association (AOA), which sets internal governance rules. When non-individual subscribers are based outside India, the MCA requires the MOA in specified attachment formats.
Document Checklist for US-Based Promoters
- Apostilled or notarized passport copies
- US address proof
- Board resolutions (for corporate shareholders)
- Ultimate Beneficial Owner (UBO) declarations
- Notarized/apostilled MOA and AOA execution documents, where signed outside India
Cost Breakdown
| Cost Item | Approximate Range (USD) |
|---|---|
| ROC/government fees | Varies with authorized capital |
| DSC issuance (per director) | Small fixed fee per certificate |
| DIN application (per director) | Small fixed fee per application |
| Apostille/notarization + courier (US documents) | Varies by state and document count |
| Professional/advisory fees | Firm-dependent |
| Typical total | $700-$1,500 |
Exact government fees scale with authorized share capital, so get a firm quote before filing.
FEMA/RBI Compliance Note
Share subscription money from US bank accounts must come through normal banking channels via inward remittance, per RBI's Master Circular on Foreign Investment. Reporting then goes through the RBI's Single Master Form on the FIRMS portal. That filing is mandatory: it is how the RBI records foreign capital entering Indian companies.
Step-by-Step Process to Register a PLC From the USA
- Reserve your company name via SPICe+ Part A on the MCA portal. Have backup names ready. Approval isn't guaranteed on the first try.
- Obtain DSCs for all directors, including US-based promoters. Each director needs a passport-size photo, self-attested address proof, and self-attested PAN card (or equivalent for non-residents).
- Apply for DINs for each director through the MCA system (typically via SPICe+ for new directors).
- Draft and file MOA, AOA, and SPICe+ Part B, along with the linked AGILE-PRO-S webform for GST, EPFO, and ESIC registration.
- Submit apostilled/notarized identity and address proofs for US shareholders and directors alongside the application.
- Receive your Certificate of Incorporation from the ROC. After COI issuance, apply for PAN and TAN, then open an Indian corporate bank account.
Most of the delay in this process comes from document legalization on the US side, not the MCA's review. Getting your apostille paperwork moving early saves weeks.
Filings more often stall on document sequencing than on MCA review. VJM Global has worked with 500+ American business owners entering India and helps order apostille or notarization steps and FEMA compliance so a missing attestation does not hold up the submission.
Frequently Asked Questions
Can a non-Indian resident register an Indian company from the USA?
Yes. US-based promoters can form an Indian PLC remotely without travelling to India. Filings run through the MCA portal once apostilled documents, DSCs, and DINs are in place, and at least one director must be an Indian resident.
How does a U.S. LLC compare with Indian Pvt Ltd or OPC structures?
A US LLC offers pass-through taxation with no Indian equivalent. Indian entities are taxed as corporations regardless of type. Pvt Ltd and OPC structures also cannot raise public capital, unlike an Indian PLC.
What is a public limited company (PLC) in India?
A PLC is a corporate entity that can offer shares to the public and list on a stock exchange. It needs a minimum of 7 shareholders and 3 directors, with no statutory cap on shareholder numbers.
What are the types of companies recognised under Indian company law?
The main types are Private Limited Company, Public Limited Company, One Person Company, LLP, and Section 8 Company (for non-profits). Branch and liaison offices exist too, for foreign companies not incorporating locally.
Can a US citizen be a director or shareholder in an Indian PLC?
Yes, US nationals can hold both shares and directorships. The only structural requirement is that at least one director on the board must qualify as an Indian resident.
How long does it take to register a PLC in India from the USA?
Typically 3-4 weeks once your apostilled US documents are ready. The DSC, DIN, and ROC review stages run in sequence, so document prep on your end is usually the biggest variable.
