Set up a public limited company (PLC)
A public limited company (PLC) is the structure for companies that want to offer shares to the public or list on a stock exchange. It brings stricter capital and governance rules than a private limited company – and is rarely the right starting point for a start-up.
Share capital and requirements
A PLC must have allotted shares with a nominal value of at least £50,000. At least a quarter of the nominal value of each share – plus any premium – must be paid up. A PLC needs at least two directors and a company secretary with suitable qualifications or experience; every director and person with significant control must verify their identity with Companies House.
The formation steps
You incorporate a PLC online or on paper with Companies House, adopting articles of association suited to a public company. After incorporation it may not do business or borrow until Companies House has issued a trading certificate – for which you confirm that the minimum share capital is allotted and paid up. Many PLCs start out as a Ltd and re-register later.
When a PLC makes sense – and getting started with planix
A PLC is worthwhile if you are preparing for a listing or a public share offer, or if your industry expects the status. For founding, growing and venture capital rounds, a private limited company is usually enough. planix helps you weigh up the structure and plan the steps.
Frequently asked questions
How much capital does a PLC need?
Allotted shares with a nominal value of at least £50,000, of which at least a quarter must be paid up – so at least £12,500 – before the company can obtain its trading certificate.
Can a private limited company become a PLC later?
Yes. A Ltd can re-register as a PLC by special resolution once it meets the requirements: share capital of at least £50,000 nominal, at least a quarter paid up, two directors and a qualified company secretary.
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