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The timeline for farmer producer company registration depends from cases to cases, here the most generic timeline:
Obtain DSC & DIN for directors.
Name reservation & document preparation.
Receive Certificate of Incorporation.
Farmer producer company formation allows a group of farmers or agriculturists to create a legally recognized entity to improve their livelihoods, access financial support, and increase their income. Farmer Producer Company Registration is governed under the Companies Act, 2013, and requires at least 10 individuals, 2 institutions, or a combination of both, all sharing a common business objective.
This type of company blends the structure of a private limited company and a cooperative, enabling cooperative businesses to operate as companies or transition into a company framework. While the registration process is straightforward, seeking expert assistance from Corpfilings can help streamline the procedure and ensure compliance.
The different types of farmer producer company registration are as follows:
This type of producer company registration is set up by the agriculturalists, farmers, or producers who are engaged in crop cultivation, poultry, or dairy farming. Its main goal is to boost the income of its members and improve their agricultural practices.
A Sericulture Producer company is a type of company that is established by individuals who are engaged in the production of silk, such as silk reelers, weavers, or farmers. The primary goal behind this farmer-producer company formation is to improve the quality of silk produced, increase its availability, and provide better marketing opportunities.
A Horticulture Producer Company is formed by individuals involved in horticulture, such as growing flowers, plants, fruits, or vegetables. The primary goal of this company is to enhance the quality of horticultural products while promoting better farming practices and collective growth.
Handloom producer company is established by individuals who are engaged in the production of handloom weaving or handloom fabric production. The main objective of a handloom producer company is to improve their products’ quality.
Enjoy tax benefits, access funding, and boost your agricultural production with ease.
Corpfilings ensures a seamless Producer Company incorporation, guiding you through every step for a hassle-free registration.
The list of benefits of farmer producer company formation is as follows:
It’s a separate legal entity that can obtain its own assets and incur debts in its own name, and also, the Directors of the company have no obligation to the lender of the company.
The producer company in India is exempted from paying Income Tax.
Producer companies can also facilitate a loan and financial credit to their members. It is one of the significant benefits of agro producer company registration.
Producer company that is registered receives more credibility in the market as compared to the non-registered ones. It is one of the key merits of farmer producer organisation registration.
It has a minimum paid-up capital of Rs.1 lakh and a minimum authorised capital of Rs. 5 lakhs. Also, it is easier to mobilise small capital for a producer company.
As per the Companies Act, 2013, a Producer Company cannot have government or private equity stakes, preventing it from transitioning into a public or deemed public limited company. This ensures complete autonomy and allows the company to function professionally without external interference.
Producer companies in India are also eligible to operate across the nation, it provides the flexibility to expand and conduct business freely and professionally. It is one of the significant benefits of farmer producer company registration.
The list of activities performed by a producer company in India are as follows:
The checklist for farmer producer organisation registration is as follows:
The list of documents required for agro producer company registration is as follows:
To ease the documentation for your producer company registration, talk to our business consultants at Corpfilings.
The procedure for incorporation of producer company is as follows:
First and foremost, the applicant should obtain a DSC (Digital Signature Certificate) for all the proposed directors of the company. It is an electronic signature used to submit e-forms online securely.
Next, the Director Identification Number (DIN) must be obtained for each director. The DIN is a unique identification code required for appointing a director in a company. To get a DIN, the applicant must file Form DIR-3 or apply through the SPICe+ form.
The next step is to choose and reserve a unique name for the producer company. Therefore, a proposal of two unique names must be filed in the form SPICe+ with the Registrar of Companies (ROC). accordingly, the ROC will approve one of the proposed names based on the availability and compliance alignment with name standards.
In this stage, the applicant shall prepare all the essential documents required for producer company registration. This includes MoA, AoA, INC-9, INC-10, DIR-2, etc., which are prepared and shared for signature.
After the completion of preparing the essential documents and signed by the promoters, then the next step is to file the Incorporation form with SPICe+ INC-32 Form.
The Registrar of Companies (ROC) will review and verify the submitted application and documents. If everything meets the legal requirements, the ROC will issue a Certificate of Incorporation, confirming the company's legal establishment. Once issued, the producer company can officially begin operations.
Still not sure how to proceed with farmer producer company registration? Let our consultants at Corpfilings simplify the process for you.
The list of compliances post farmer producer company registration is as follows:
Looking to register a Producer Company? Corpfilings is your trusted partner for worry-free, end-to-end registration services! With a 99.4% client retention rate, our industry experts ensure a seamless process, helping you establish and grow your business with confidence. Given below are the reasons why agriculturalists and farmers consider Corpfilings for Agro Producer Company Registration-
The minimum share capital requirements for farmer producer company online registration are as follows:
The governance structure of a producer company is as follows:
The list of advantages of a producer company registration is as follows:
A Producer Company is a legally registered entity under the Companies Act, 2013, formed by a group of farmers or agriculturists. Its main objective is to improve their standard of living, provide necessary support, and enable collective participation in activities related to their produce.
Any primary producer or a group of primary producers engaged in agricultural, horticultural or related activities can become a member of the producer company.
The primary goals of a producer company after producer company registration are to harvest, procure, grade, pool, handle, market, sell and export primary produce.
A minimum of ten members are required to register a producer company.
Yes, producer companies can raise funds by issuing equity shares to their members.
No, there is no such limit to the number of members in a producer company.
Yes, the producer company is flexible in nature and thus can operate in multiple states in India.
Get in touch with our experts and initiate the process of registration and certification without any hassle.
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