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Online Producer Company Registration
Farmer Company registration starts from ₹17,000 Only!
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The Indian economy is largely based on agriculture, which provides a livelihood for the majority of the population, employing over 50% of the workforce. However, farmers and producers often lack access to technology, knowledge, and funding, which hinders their progress. To tackle these challenges, the concept of a Producer Company was introduced in 2002, aimed at enhancing the well-being of farmers and producers.
Overview of Producer Company
Table of Content
Complete the Limited Producer Company Registration Application Form
Provide us required Documents
Make an Online Payment
Our expert team will manage the Application process for producer Company Registration
Certificate of Producer Company Registration will be mailed after completion of registration
How to register Producer Company with Corporate Shastra
Benefits of Registering a Producer Company
Access to Loans and Investments
Since producer companies are created by individuals or institutions who are primary producers, the government has introduced a special provision to offer loans to these producer members. To facilitate this, NABARD Bank was established to provide financial support to producers and farmers through NABARD Loans.
Limited Liability Protection
A producer company may receive specific tax benefits and exemptions based on the agricultural activities it undertakes.
Recognized as a Separate Legal Entity
Producer companies, formed by individuals or institutions that are primary producers, benefit from a special provision for obtaining loans. To support this, NABARD Bank was created to offer financial assistance to producers and farmers through NABARD Loans.
Tax Advantages
A producer company may qualify for specific tax benefits and exemptions based on the agricultural activities it engages in.
Producer Company Registration process
Step 1. Application for Digital Signature Certificate (DSC)
The registration process for a Producer Company is entirely digital, making the acquisition of a Digital Signature Certificate (DSC) a mandatory requirement. Both directors and subscribers to the company’s memorandum must apply for a DSC from certified agencies. Obtaining a DSC is a fully online process that can be completed within 24 hours and involves three straightforward verifications: document verification, video verification, and phone verification.
Step 2. Application for the Name Approval
The name application for a Producer Company can be submitted using the SPICe RUN form, which is a component of the SPICe+ form. When applying for the company name, it is necessary to define both the industrial activity code and the object clause of the company.
Note: It is essential to ensure that the proposed business name does not resemble that of any existing registered company and complies with the provisions of the Emblems and Names (Prevention of Improper Use) Act, 1950. You can easily verify the availability of the name using our company name search tool.
Step 3. Filing of SPICe Form (INC-32)
After the name approval, the registration details of the company must be prepared in the SPICe+ form. This form serves as a simplified template for the electronic incorporation of a company. The required details in the form include:
Details of the company
Details of members and subscribers
Application for Director Identification Number (DIN)
Application for PAN and TAN
Declaration by directors and subscribers
Declaration & certification by professional
Step 4. Filing of e-MoA (INC-33) and e-AoA (INC-34)
The SPICe e-MoA and e-AoA are interconnected forms that must be prepared during the company registration application process.
Memorandum of Association (MOA): As defined under Section 2(56) of the Companies Act 2013, the MOA serves as the foundation of the company, detailing its constitution, powers, and objectives.
Articles of Association (AOA): Defined under Section 2(5) of the Companies Act, the AOA outlines the rules and regulations that govern the management and internal affairs of the company.
Step 5. Issuance of PAN, TAN and Incorporation Certificate
After the approval of the aforementioned documents by the Ministry of Corporate Affairs, the relevant department will issue the PAN, TAN, and Certificate of Incorporation. The company will then need to open a current bank account using these documents. Please feel free to reach out to us for assistance in opening your current bank account.
Producer Company Registration – requirements
To establish a producer company, a minimum of 10 producers or individuals is required, with no upper limit.
Alternatively, at least two producer institutions can form a producer company.
Out of these 10 members, 5 must be directors for incorporation.
A minimum capital of ₹5 lakh is needed for registration.
A producer company cannot be converted into a public company.
Passport-sized photos of the members
Copy of members' PAN Card
Copy of Aadhar Card or Voter ID
Recent bank statement (within two months)
Proof of the registered business location, such as a utility bill
No Objection Certificate from the property owner
Documents Required for Formation of Producer Company
Comparison of Business Structures
Proprietorship | Partnership | OPC | LLP | Private Limited | |
|---|---|---|---|---|---|
Ownership | Sole Ownership | Min 2 partners Max 50 partners | Only 1 member | Min 2 Designated Partners | Min 2 Directors Min 2 Shareholders Max 15 Directors Max 200 Shareholders |
Separate
Legal Entity | No | No | Yes | Yes | Yes |
Applicable Law | No specified Act | Partnership Act, 1932 | Companies Act, 2013 | Limited Liability Partnership Act, 2008 | Companies Act, 2013 |
Statutory Audit | Not Mandatory | Not Mandatory | Mandatory | Based On Applicability | Mandatory |
Liability | Unlimited | Unlimited | Limited | Limited | Limited |
Perpetual Existence | No | No | Yes | Yes | Yes |
Ownership Transferability | No | Yes (Restricted) | Yes (Restricted) | Yes | Yes |
Taxability | Low | High | Moderate | High | Moderate |
Compliance
Requirement | Low | Low | High | Moderate | High |
Producer Company Incorporation Package Includes
After incorporating a Producer Company, you will receive the following documents:
Certificate of Incorporation
Permanent Account Number (PAN) for the company
Tax Deduction and Collection Account Number (TAN) for the company
Articles of Association (AoA)
Memorandum of Association (MoA)
Director Identification Number (DIN)
Digital Signature Certificate (DSC)
EPF and ESIC registration documents
Company Master Data
Frequently Asked Questions (FAQs)
How do you start a producer company?
At least 10 or more members, or minimum two producer institutions are required and minimum 5 lakh rupees as share capital for incorporation of the producer company. There must be a minimum of 5 directors and proper identity & address proof is required to submit alongwith professional certification (CA, CS, etc.).
Who can form a producer company?
What is Producer Company as per Companies Act 2013?
What is the minimum paid up capital at the time of registration of a company?