Which company was established by royal charter to promote colonial settlements in North America?

The Virginia Company of London was established by royal charter with the specific intent to promote and facilitate colonial settlements in North America. This company received its charter from King James I in 1606, granting it the authority to establish colonies in Virginia. The main goal was to exploit the natural resources of the New World and establish a profitable settlement, particularly focusing on the production of tobacco, which would ultimately become a significant cash crop.

The Plymouth Company also had intentions regarding colonial settlements, but it was not as directly involved in the early establishment of Virginia as the Virginia Company of London was. The York Company was primarily associated with different ventures and did not have the same focus on the Virginia colony. The East India Company, while significant in trade and colonial pursuits, concentrated its efforts on Asia rather than North America.

Thus, the Virginia Company of London stands out as the organization specifically chartered to foster settlement in the Virginia territory, making it the correct answer to the question.