STARTUP INDIA REGISTRATION
| Basic | Advance |
|---|---|
| ✔ Registration Certificate | ✔ Registration Certificate |
| ✔ Recognition Certificate | |
| ✔ Professional Consultancy |
Startup India Registration
Welcome to Bharat Filing Point!
We are your one-stop solution for all your business setup and registration needs in India. At Bharat Filing Point, we understand the complexities of starting and running a business in India. That’s why we are dedicated to providing hassle-free and efficient services to help you navigate through the various legal requirements and regulations. Here’s a complete guide on how to register your startup in India through the Startup India initiative.
Introduction to Startup India Registration
Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem that is conducive to the growth of startup businesses, drive sustainable economic growth, and generate large-scale employment opportunities. This initiative aims to empower startups to grow through innovation and design.
What is Startup India Registration?
Startup India Registration is a process that allows new businesses to get recognized under the Startup India scheme. This recognition opens up various benefits including tax exemptions, easier compliance, and access to government funding and resources.
Essential Licenses and Registrations for Startup India
Starting a business in India requires obtaining several licenses and registrations. These include, but are not limited to:
- Company Registration: Register your startup as a Private Limited Company, Partnership Firm, or Limited Liability Partnership.
- GST Registration: Mandatory for businesses with a turnover exceeding INR 40 lakhs.
- Udyam Registration: For MSME recognition.
- Other Licenses: Depending on your business model, you may need sector-specific licenses such as FSSAI for food businesses, or Drug License for pharmaceuticals.
Advantages of Startup India Registration
- Tax Exemptions: Startups recognized by DPIIT can avail a tax holiday for three consecutive financial years out of their first ten years since incorporation.
- Simplified Process: Easy access to government schemes and business resources.
- Networking Opportunities: Access to a vast network of investors, mentors, and industry experts.
- Government Grants: Eligibility to apply for various grants and funding opportunities provided by the government.
Disadvantages of Startup India Registration
- Regulatory Compliance: Despite the benefits, startups must adhere to certain regulatory compliances which can be cumbersome.
- Eligibility Criteria: Only businesses that meet specific criteria set by the government can avail of these benefits.
Registering a Startup Online
Registering your startup online through the Startup India portal is a straightforward process. Here’s how you can do it:
Importance of Registering a Startup
Registering your startup not only gives it a legal identity but also provides access to various benefits and support systems designed to help your business grow. It builds credibility and trust among customers, investors, and partners.
Procedure for Startup India Registration
Step-by-Step Guide:
- Incorporate Your Business:
- Register your business as a Private Limited Company, Partnership Firm, or Limited Liability Partnership (LLP).
- Register on the Startup India Portal:
- Visit the Startup India website and fill in the required details to create an account.
- Get DPIIT Recognition:
- Submit an application for recognition by the Department for Promotion of Industry and Internal Trade (DPIIT).
- Apply for Tax Exemptions:
- Post-recognition, apply for relevant tax exemptions under Section 80 IAC and other sections.
- Avail of Government Schemes:
- Explore and apply for various government schemes and funding opportunities available for startups.
Compliance and Maintenance
Once registered, maintaining compliance is crucial. This includes timely filing of taxes, maintaining accurate financial records, adhering to labor laws, and keeping up with any changes in regulations.
Key Steps to Remember
- Eligibility Criteria:
- Your business must be registered in India.
- Annual turnover should not exceed INR 100 crores in any preceding financial year.
- The entity should not be older than 10 years.
- It should be working towards innovation, development, or improvement of products or services.
Conclusion
Registering your startup under the Startup India initiative can provide your business with the necessary tools and resources to thrive in a competitive market. At Bharat Filing Point, we are here to assist you every step of the way.
Do you have questions about how we can help your company? Send us an email and we’ll get in touch shortly.
Contact Us
- Mail: info@bharatfilingpoint.com
- Website: www.bharatfilingpoint.com
Join us today and take the first step towards building a successful and compliant business in India!
- Website: www.bharatfilingpoint.com
Proprietorship vs Partnership vs LLP vs Company (Pvt Ltd)
| FEATURES | PROPRIETORSHIP | PARTNERSHIP | LLP | COMPANY |
|---|---|---|---|---|
| Definition | Unregistered type of business entity managed by one single person | A formal agreement between two or more parties to manage and operate a business | A Limited Liability Partnership is a hybrid combination having features similar to a partnership firm and liabilities similar to a company. | Registered type of entity with limited liability to the owners and shareholders |
| Ownership | Sole Ownership | Min 2 Partners Max 50 Partners | Designated Partners | Min 2 Directors Min 2 Shareholders Max 15 Directors Max 200 Shareholders For One Person Company 1 Director 1 Nominee Director |
| Registration Time | 7-9 working days | 7-9 working days | 7-9 working days | 7-9 working days |
| Promoter Liability | Unlimited Liability | Unlimited Liability | Limited Liability | Limited Liability |
| Documentation | MSME, GST Registration | Partnership Deed | LLP Deed, Incorporation Certificate | MOA, AOA, Incorporation Certificate |
| Governance | - | Under Partnership Act | LLP Act, 2008 | Under Companies Act,2013 |
| Transferability | Non Transferable | Transferable if registered under ROF | Transferable | Transferable |
| Compliance Requirements | Income tax filing if turnover is more than Rs.2.5 lakhs | ITR 5 | Form 11, Form 8, ITR 5 | ITR 6, MCA filing, Auditor'sappointment |
Documents Required for Startup Registration in India
For Startup India Registration, the following documents are required:
- Proof of Registration: A copy of the Certificate of Incorporation or Registration issued by the Registrar of Companies (RoC) or relevant authority, confirming the legal existence of the entity.
- Contact Information of Partners, Promoters, or Designated Partners: This includes names, addresses, Director Identification Number (DIN)/Designated Partner Identification Number (DPIN), email IDs, phone numbers, and the company’s Corporate Identification Number (CIN)/Limited Liability Partnership Identification Number (LLPIN).
- Details of the Company’s Activities: A brief description of the business plan, including the type of innovation or improvement the company is working towards, how the business plan will be achieved, and details on the Unique Selling Point (USP) that distinguishes the company from others.
- Details of Intellectual Properties: Information on all Intellectual Property Rights (IPRs) applied for or owned by the startup, such as patents or trademarks.
- Digital Signature Certificate (DSC): For the authorized representative of the company, LLP, or partnership firm to sign electronic documents submitted for registration.
- Authorization Letter: For the authorized representative, if applicable, to act on behalf of the company, LLP, or partnership firm during the registration process.
- Proof of Funding: If the startup has received any funding, details and proof of such funding need to be provided.
- Pitch Deck of the Business: A presentation outlining the business model, market opportunity, product/service offerings, team, and financials. This document is not mandatory but recommended to give a comprehensive overview of the startup.
- Letter of Recommendation: From an incubator, investor, or any other recognized body under the Startup India initiative, if available. This is not a mandatory document.
- Letter of Funding from Angel Investor: If applicable, to demonstrate financial backing from investors.
It’s important to note that all documents required for Startup India registration must be in PDF format. Additionally, startups are encouraged to highlight their USPs and, if they choose, submit voluntary documents like a video pitch to better illustrate their business model and operations.
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Startup India FAQ’s
Who is eligible for Startup India?
To register with Startup India, an entity must meet specific criteria.
Is Startup India a scheme?
Does the government give funds to startups?
The easy availability of financing is a critical issue for entrepreneurs looking to expand their Startups. Due to a lack of funding, many business concepts stay on the ground. To address this issue, the Indian government has established a few Schemes through which the government provides financial aid to entrepreneurs. Startups can use these funds for research and development, marketing, and other activities to help them grow their business.
Can a foreigner enter into partnership under the LLP Act and get that LLP registered with Startup India?
Yes, a foreign national can enter into partnership under the LLP Act and get that LLP registered on our website. It can even get recognised by the DIPP.
Would a One Person Company (OPC) be eligible to avail benefits under the Startup India initiative?
Yes. One Person Companies are eligible to avail benefits under the Startup India initiative.
My entity does not have a PAN. Would I be allowed to register it as a ‘Startup’ on the Startup India portal?
Yes, an entity without a PAN can be registered as a Startup on our website. However, it is advised that a valid PAN of the entity is provided at the time of registration
What is the time-frame for obtaining certification of Inter-Ministerial Board for availing tax exemption post successful application?
The Inter- Ministerial Board meeting typical takes place once a month. The cases in the meeting are processed in a serial order. The communication regarding the decision is sent to the registered email address of the Startup.
To regularly follow updates of the IMB meetings, you may refer to the IMB notifications on our website by clicking here.
How would the Inter-Ministerial Board review the applications received for the purpose of tax exemption?
The Board shall review the supporting document(s) provided to ascertain if the entity qualifies as an eligible business for availing tax.
Startup India Registration in State
Startup India Registration In Maharashtra
Startup India Registration In Karnataka
Startup India Registration In Tamil Nadu
Startup India Registration In Gujarat
Startup India Registration In Uttar Pradesh
Startup India Registration In Rajasthan
Startup India Registration In Punjab
Startup India Registration In Madhya Pradesh
Startup India Registration In Odisha
Startup India Registration In Chandigarh
Startup India Registration In Uttarakhand
Startup India Registration In Jharkhand
Startup India Registration In Madhya Pradesh
Startup India Registration In Odisha
Startup India Registration In Chandigarh
Startup India Registration In Uttarakhand
Startup India Registration In Jharkhand
Startup India Registration In Chhattisgarh
Startup India Registration In Haryana
Startup India Registration In Andhra Pradesh
Startup India Registration In Assam
Startup India Registration In Jammu And Kashmir
Startup India Registration In Andhra Pradesh
Startup India Registration In Assam
Startup India Registration In Jammu And Kashmir
Startup India Registration In Delhi
Startup India Registration In Telangana
Startup India Registration In West Bengal
Startup India Registration In Kerala
Startup India Registration In Goa
Startup India Registration In Bihar
Startup India Registration In Puducherry
Startup India Registration In Himachal Pradesh
Startup India Registration In Arunachal Pradesh
Startup India Registration In Manipur
Startup India Registration In Meghalaya
Startup India Registration In Mizoram
Startup India Registration In Nagaland
Startup India Registration In Sikkim
Startup India Registration In Tripura
Startup India Registration In Lakshadweep
Startup India is a vital government scheme launched on 16th January 2016 to provide financial assistance and mentorship to entrepreneurs. Additionally, it provides entrepreneurs with a platform for networking with industry experts, investors, and other stakeholders. The scheme also encourages research, development, and technology transfer in the country. This scheme helps create more jobs in the country and boost economic growth.