Producer Company means a corporate body having objects or activities as specified under the Act. It consists of a group of people involved in the production of primary produce or having one or more objectives relating to primary produce. In a producer company, you can appoint agriculturist members and accept deposits in the form of RD/FD and provide them maturity as well as distribute loans to your farmer members and charge interest from them. Producer Company Registration is done through Legalraasta.
Documents Required for Producer Company Registration
Copy of PAN Card of all directors
Copy of Rent agreement(If rented property)
Landlord NOC (Format will be provided)
Passport size photograph of directors
Electricity/ Water bill (Business Place)
Copy of Aadhaar Card/ Voter identity card
Copy of Property papers (If owned property)
Conditions for Incorporation
Ten or more individuals,each of them being a producer
Two or More Producer institutions
Combination of ten or more individuals and producer institution
Minimum 5 Directors
Minimum Rs.5 Lacs Paid up Capital
Frequently Asked Questions
1. Is it necessary to have 5 directors to register Producer Company?
Yes, you need a minimum of five directors to register a Producer Company.
2. Who can be a member in Producer Limited Company?
Any individual/organization can become the member of Producer Company including foreigners/NRI’s
3. For incorporation of Producer company do I have to be present in person?
The entire procedure is 100% online and you don’t have to be present at our office or any other office for incorporation. A scanned copy of documents has to be sent via mail
4. Are there any other payments to be made for incorporation certificate in addition to fee paid at the time of registration?
There is absolutely no other payment. We will send you an invoice that is all-inclusive, with no hidden charges.
5. Time taken by Legalraasta in forming a Producer Company?
Legalraasta can incorporate a Nidhi Limited Company typically in 20-30 days. The time taken also depends on relevant documents provided by the applicant and speed of approvals from government. To ensure speedy registration, please pick a unique name for the proposed Company and make sure you have all the required documents ready ,prior to starting the registration process.
6. Can NRIs/Foreign Nationals become a Director in Producer Company?
Yes, after acquiring DIN/DPIN an NRI or Foreign national can become a designated partner in Producer Company. However, at least one designated partner in the Producer Company must be a Resident of India