A Public Limited Company (or PLC) is a UK corporate entity with limited liability that is allowed to sell its shares to the public; this is in contrast to Private Limited Companies (LTDs), which may not. A Public Company may be listed on a financial market, such as the London Stock Exchange, but may also be privately owned.
The name of a Public company must end with the phrase “Public Limited Company” or the abbreviation “PLC”
The annual requirements and responsibilities for PLCs differ slightly to those of LTDs (please note that this list is not exhaustive):
A Public Company is required to have at least two directors and one company secretary. All directors must be natural persons (i.e. not corporate) and aged 16 or over and the secretary must be qualified to act as a company secretary.
A Public Limited Company may be incorporated with any size share capital, but before the company may begin to trade, or borrow, it must have allotted shares to the value of £50,000 (or €57,100), of which each share must be at least one quarter paid-up. Once this requirement is met the company must apply for a trading certificate from Companies House by submitting form SH50. Trading before this certificate has been issued is an offence and the directors are liable, on conviction, to a fine.
Trading with a Public Company can be expensive, given the share capital requirements and overheads such as auditor’s fees. If you are unsure whether you need a Public Company then the likelihood is that you do not and we would advise seeking legal advice before proceeding.
We offer Public Limited Company Formation for £99.99 + vat and this is for a comprehensive package including:
We provide an online formation process for Public Limited Companies and you can begin your order by clicking the ‘Order Now’ button.
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