Startup Registration in India refers to the registration of an incorporated business entity, say a company, partnership firm, sole proprietorship, a Limited Liability Partnership, a Private company, or an OPC (One Person Company), as a startup under the flagship of the startup India initiative.
This government initiative to register an innovative idea as a Startup company in India, the company will get several benefits from the government like
- Tax exemptions,
- Ease of registration,
- Minimal registration fee,
- Access to government funds,
- Access to venture capitalists etc.
These benefits range from getting access to government schemes to exclusive consideration for government projects. The government is aware of the potential of such budding companies. Therefore, you can now register a startup in India under the many schemes of the government.
Pre-conditions for the Startup Registration
The following are the pre-conditions that must be satiated by a Startup application before filing the Startup registration application online:
- The applicant must propose a fresh idea for the startup. The startup application is not for the old business entities.
- The applicant business entity must be incorporated for less than 7 years.
- The current annual turnover of the applicant must be less than equal to 25 Crore rupees. Anything above this will not be considered a Startup and thus will not be considered suitable for its perks.
- The objective of the applicant’s business entity should be aimed toward the development, innovation, deployment, and commercialization of new products and services that are driven by new technology or IP.
- The applicant must obtain an Inter-Ministerial Board Setup certificate before setting up a Startup.
Required documentation for registration.
The following documents must be submitted along with the registration application to the authorities for Startup registration:
- PAN Card of the applicant company
- Proof of Identification of all the company directors or partners of an LLP or a Partnership firm.
- Proof of residence of the company’s directors like any utility bill such as mobile bill, water bill, electricity bill, or bank statement not older than two months.
- Four unsigned latest Passport Size Photographs of the directors/partners of the applicant company.
- Address proof of Registered office:
- A rent agreement copy if the registered office is a rented space
- A sales agreement copy if the registered office is an owned space
- Any utility bills to further reinforce the address proof of your registered office.
- Details of the company’s directors, as applicable.
- Details of the LLP’s or Partnership firm’s member partners, as applicable.
- Details of the business’s shareholders, as applicable.
- Details of a One Person Company for which a minimum of 1 shareholder & 1 nominee is a requirement.
- A certified copy of the MSME certificate, the Udyog Aadhar Certificate, is required.
Startup Company Registration process
The procedure for online startup registration in India is as follows:
- First, get your business idea incorporated into a recognized business model. The model must be chosen according to the proposed business requirement, be it a company, partnership, Limited Liability Partnership, Limited company, Public Company, OPC, Nidhi, Sector-8, etc.
- Gather the required documents digitally to upload them on the startup registration website.
- Visit the official portal of the startup registration website and create your account. Save your login credentials for future reference.
- Answer the four major questions about your startup as asked by the authority on the website.
- Apply for a startup India registration certificate.
- Fill out the application and submit it along with the required documents.
- Regularly check your application status by logging in to the website.
- Get a startup Registration certificate or the authorization letter for startup India.
Startup Registration with Registrationwala
As mentioned above, the entire process of online registration of a Startup, as you must have assessed that the registration process is complex, time-consuming and exhaustive. For such tiring legal processes, you need the expertise of some legal professionals who can assist you with the registration process. Read More: Content Copyright
Registrationwala provides you with exactly this kind of legal expertise. To aid our clients with their startup registration, we provide them with the following services.
- Company Incorporation
- Furnishing the requisite documents.
- Filing the online application on your behalf.
- Content development for answering startup questions
- Conducting department follow-ups
So, it is time that you stop delaying your dreams and start realizing them by contacting us at our website UnboxFame. Read More: Trademark Service
If you want to start your startup registration in India, you need first to incorporate yourself as a business entity, as per your preference.