Producer company registration allows you to set up a Producer Company with the objective to engage with the business of agricultural produce. Being a company, the procedure to establish this business entity is similar to a private limited company. However, there are some steps that vary and some compliances that you must consider. This article, therefore, presents you with the steps to incorporate a producer company in India.
A Producer Company is a business entity whose objective is to deal with agricultural produce. As far as infrastructure is concerned, it is similar to a Private Limited Company. Thus, the steps of incorporation of a company in India are quite simple.
Let’s discuss those steps that comment on their simplicity.
Step 1: Choose a suitable name for your Producer Company
It’s a worthy point to note that India’s agriculture sector form the majority of India’s GDP. Therefore, you are going to face stiff competition in the market. Thus, it is suitable for you to choose a name that reflects your business while still being unique.
Keeping uniqueness and efficiency of the name in mind, here are some tips to name a Producer Company:
- Understand the type of business you provide
- Conduct market research to find out the names of the most prominent producer company.
- As you gain inspiration from the Producer Companies that already exist, pick out a name that speaks your business’s values.
Step 2: Reserve the name of your company
You can’t just stop at merely selecting a suitable name, you also must reserve it. As everybody is in the rush to reserve their respective companies, the best course of action for you is to file the RUN application as you think of a name. Read More: SACFA Approval
Step 3: Get the Director Signature Certificate
DSC is the document used by the Indian government to authenticate the details of online application filers. As the procedure to incorporate a producer company is online, you must obtain a Director Signature Certificate (DSC) for each of your directors.
Step 4: Obtain DIN for the proposed directors
MCA rules state that all aspiring directors must procure Director Identification Number prior to filing the application for Producer Company Registration. Just get in touch with technical consultants that you are good to go.
Step 5: Draft the Memorandum of Association and Articles of Association
Your company is associated with its objective. Therefore, you must provide the MCA with a clear picture of what our producer company does. You do this by drafting a Memorandum of Association, a legal document containing the details of your business objectives in a clean and legalized format.
Furthermore, you also need to conventional by-laws document of your business infrastructure that states its rules and regulations. It is known as the Articles of Association.
Step 6: Put together the documents necessary to incorporate a Company
Put together a file containing the following documents for company incorporation:
- Identity proofs of you, your co-directors and members.
- Address proofs of you, your co-directors and members.
- The Address proof of your registered office.
- Net worth certificate
- Memorandum of Association, and
- Articles of Association.
Step 6: File the online application
Go to the MCA portal and select the option to incorporate a producer company. It will transfer you to a page that will provide you with complete guidelines to fill the application form and upload the documents. Read More :Maritime Approval
Obtain the Certificate of Incorporation
If the Registrar, upon assessing the application, finds it to be free of any errors, will instantly issue you the certificate of registration.
The Producer Company is really easy to set up. However, there are certain eligibility aspects that we have not discussed here. To know them, you need to reach out to our consultants who are more than willing to part with that knowledge for free. Related Content: FEMA Consultant
How to establish a Producer Company in India? Read this blog to know about the steps you need to take to incorporate a Producer Company in India.