All about Startup india Registration
Startup India Registration
India is a country of entrepreneurship and government of India wants various startups to create more wealth and jobs for India. Startup India is an initiative launched by the Indian government to promote and support startups in the country. As part of this initiative, startups can register with the government and avail various benefits such as tax exemptions, funding opportunities, and easier compliance requirements. Lets look at the process and documents required for Startup India registration.
You can apply startup registration either with the company, or partnership or limited liability partnership also having an innovative business plan, that will provide goods or service that was not provided by any existing business.Start up india registration also known as DPIIT registration.
Startup india registartion is a complete online process, there is no need of physical appereance
Eligibility criteria for startup registration under DIPP:
1. Nature of organization: For getting startup India registration the organization will be either partnership or company or limited liability partnership. Only these 3 types of organization are allowed for startup registration.
2. Turnover criteria: The turnover of organization would be 100 cr or less for applying of startup India registration
3. Goods/ Services: Good/ services provided by the startup must be unique or provide solutions to existing problem in a better way, than provide by an existing providers.
4. Time limit for apply: An partnership/company/ LLP can apply for startup within 10 years from its incorporation
Process for Startup India registration:
The process for registering a startup under the Startup India initiative is as follows:
Step 1: Registration on the Startup India portal
The first step to register your startup under Startup India is to visit the Startup India portal (www.startupindia.gov.in) and create an account. You can create an account using your email ID or by logging in with your Google, Facebook, or LinkedIn account.
Step 2: Filling up the registration form
After creating an account, you need to fill up the registration form. The form requires you to provide details such as the name of your startup, date of incorporation, PAN number, and details of the founders.
Step 3: Uploading documents
Once you have filled up the registration form, you need to upload certain documents. The list of documents required for registration varies depending on the type of entity you are registering (private limited company, LLP, partnership firm, etc.).
Step 4: Self-certification
After uploading the documents, you need to self-certify that the information provided by you is true and correct to the best of your knowledge.
Step 5: Submitting the application
Finally, you need to submit the application. After submission, your application will be reviewed by the Startup India team, and you will receive an acknowledgement.
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Documents Required for Startup india registration
1. Pan Card
In the case of Company/LLP you need pan card of the company
2. MOA/AOA
For proprietorship registration we need Both AOA and MOA of the Company
3. Director Details
We need all personal details of all existing Directors in the Company
4. brief discription
We need brief discription of the Company for Registration
Reasons for Startup India
Simplified process of registration
The startup registration process is easy and can be completed online through the Startup India portal, there is no need of manual intervention or physical appearance it’s a complete online process.
Tax exemption
Various tax exemptions has been provided to start up, you can get 3 consecutive years of exemption out of your first 10 years by your choice.
Self-certification
Startups can self-certify their compliance with various labour and environmental laws for a period of five years from the date of incorporation, there would be no inspection dome by PF/ESI or environment department for their compliance.
Intellectual Property support
A startup can claim various benefit under intellectual property like 50% fees rebate on trademark and 80% rebate can be claimed on patents will be provided to startups
Government tenders
Startups are given priority in government tenders, which provides them with opportunities to win government contracts and grow their business. Various state government and central government give priority to start up for tender allotment
Benefits provided by state government
Various state government provide benefits like GST incentive, loans , tender allotment etc to startup If you are in the market for clothes, our platform is your best choice! The largest shopping mall!
Access to funding
Startups can apply for funding under various schemes such as the Fund of Funds for Startups (FFS), which provides financial support through SEBI registered Venture Funds, various angel investors or venture capitalist also seek their interest to startup that are registered. Government has made a separate funding of 10,000 cr for startup till now only 2000 cr has been distributed.
Networking opportunities
The Startup India program offers various networking opportunities for startups to connect with investors, mentors, and other stakeholders in the startup ecosystem.yhe whole ecosystem contains various investors, venture capitalist, startup that can create networks for similar interest stakeholders.
Faster exit process
Startups can wind up their operations within 90 days through a fast-track exit process, which helps them avoid lengthy and cumbersome procedures. However company who are not registered startup wants to wind up there organization will go through normal process where you can take 1 year to strike off from roc.
How Ovakil help with Startup india Registration?
Ovakil helps you for registering startup india registration, it usually take 2 - 3 days for all process.
Nature of organization
For getting startup India registration the organization will be either partnership or company or limited liability partnership. Only these 3 types of organization are allowed for startup registration.
Turnover criteria
The turnover of organization would be 100 cr or less for applying of startup India registration
Goods/ Services
Good/ services provided by the startup must be unique or provide solutions to existing problem in a better way, than provide by an existing providers.
FAQs
A startup is a newly established business, usually in the early stages of operation and typically characterized by innovative products or services.
You can register your startup in India as a Private Limited Company, Limited Liability Partnership (LLP), One Person Company (OPC), or Partnership Firm. You will need to register your business with the Ministry of Corporate Affairs (MCA) and obtain a certificate of incorporation.
The documents required for startup registration in India vary depending on the type of business entity you choose. Generally, you will need to submit documents such as identity proof, address proof, PAN card, and bank statement.
There is no minimum capital required to register a startup in India. However, if you are registering your business as a Private Limited Company, There will be no requirement of minimum paid up capital
Registering your startup in India can give you access to various benefits and incentives, such as tax exemptions, funding opportunities, and government schemes. It can also provide legal recognition and help build credibility with customers and investors.
Yes, foreign nationals can register a startup in India. However, they will need to comply with certain regulations and obtain the necessary approvals from the government.
The time it takes to register a startup in India can vary depending on the type of business entity you choose and the completeness of your application. Generally, it can take anywhere from a few days to a few weeks to complete the registration process
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