Startup India Registration
DPIIT under the Startup India Scheme introduced the Startup India Registration to promote innovation within businesses. At RegisterKaro, we support & promote businesses by helping them in getting DPIIT Recognition.
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Copmany Incorporation
Documents preparation for Startup
Submission of Document to the Startup portal
Follow up and Recognition
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A Complete Analysis of Startup India Registration
India’s startup scene is thriving, witnessing a surge in young entrepreneurs each year. With a supportive government backing, startups contribute significantly to the nation’s economic growth. These ventures, offering innovative solutions to societal challenges, redefine existing products or services. The Startup India Initiative, championed by the Indian government, aims to nurture aspiring entrepreneurs. The accompanying Startup India Scheme provides crucial financial and mentoring support for the growth and expansion of startup companies. This initiative not only promotes startups but also focuses on creating employment opportunities and fostering wealth generation. At RegisterKaro, we have a team of professionals who will help you in getting Startup India Registration without any hassle and at a very low cost.
- What is a Startup?
- Objectives of Startup India Movement
- Benefits of Startup India Registration
- Eligibility Criteria for the Registration
- Who is not eligible for Startup India Registration or Startup India Recognition?
- Documents required for Startup India Company Registration
- Procedure for obtaining Startup India Registration Certificate
- How can RegisterKaro help you?
- Why RegisterKaro?
- Frequently Asked Questions
Startup India Registration Certificate [Sample]
What is a Startup?
It’s a newly established Company, generally small, which is started by one or more people. The main purpose behind a startup is to grow faster & provide something to fulfill the market gap in any industry. There are no fixed parameters set for a startup, as they are totally independent to some level. Startups initiate with a product concept & strive to grow at pace. It’s not vital that all Startups make a profit during their initial stage.
Objectives of Startup India Movement
Following are the objectives of Startup India Movement:
1: Enhanced Infrastructure, including incubation centers;
2: IPR facilitation;
3: A goal to increase the funding opportunities;
4: Provide an extensive networking database for the entrepreneurs & other stakeholders in the startup ecosystem;
5: The better regulatory environment including the tax benefits, easier compliance improved establishing a Company, fastest mechanism & more.
Benefits of Startup India Registration
Following are the benefits of Startup India Registration:
Easy Access of Funds: Rs. 10,000 crores fund is set-up by the Indian Government to provide funds to the startups as Venture Capital. The Government is also giving guarantees to the lenders to encourage banks & other financial institutions to provide Venture Capital.
Tax Savings for Investors: Individual investing their capital gains in the venture funds set-up by the Government will get exemption from Capital Gains and this will help all the Startups to attract more investors.
Income Tax Exemption: Eligible startups can be exempted from paying Income Tax for 3 Consecutive F.Y. (Financial Years) out of their first 10 years since Incorporation.
Easily apply for Government Tenders: Startups in India can easily apply for Government Tenders and they are exempted from the prior experience or turnover criteria applicable for normal companies answering to Government Tenders.
Rebate in Trademark & Patent Filing: Startups working under Startup India Registration Scheme will get 50% rebate on Trademark Filing and 80% rebate on Patent filing.
Easy Winding Up: The process of winding up of Company becomes very easy & it takes 90 days to wind up under IBC, 2016.
Eligibility Criteria for the Registration
Following is the eligibility criteria for Startup India Registration or DPIIT Certificate of Recognition:
1: The Startup India Registration Certificate or DPIIT Certificate of Recognition is provided for the company which is registered as an LLP, Private Limited Company, or a registered Partnership Firm.
2: To get the Registration Certificate, the firm should have an annual turnover of less than Rs. 100 crores for any of the previous Financial Year.
3: The entity or company should be working towards improvement/development of a product, service, or process.
4: The entity or company should have a scalable business model with high potential for the creation of wealth & employment. The company or firm should have the capability to generate employment or create wealth.
5: The period of Company’s operations or existence shouldn’t exceed 10 years from the date of formation.
6: To get Startup India Registration Certificate or DPIIT Certificate of Recognition, the company shouldn’t have been registered by splitting up/recreating an already existing entity.
7: Applicants shouldn’t have defaulted with any financial institution in the past.
Who is not eligible for Startup India Registration or Startup India Recognition?
Sole Proprietorship;
Firm constitute by the Notary Partnership Deed;
Company is older than 10 years;
If the annual turnover of the company is more than Rs. 100 crores.
Documents required for Startup India Company Registration
Following is the documents required for Startup India Company Registration:
1: CoI or Certificate of Incorporation;
2: MoA (Memorandum of Association) & AoA (Articles of Association);
3: List of all designated Directors and Partners;
4: Contact details of all the Directors or Partners;
5: Latest Photos of all the Directors and Partners;
6: Details regarding the amount of investment and investors;
7: Details of IPR Registration;
8: Website or Mobile App link (if any);
9: Growth Plan and Business Plan;
10: Udyam Registration or MSME Registration;
11: Brief write-up on how the business is working towards (innovation in the industry, high potential for wealth creation, potential for employment generation).
Procedure for Indian Subsidiary Registration
Following is the step by step procedure for getting Startup India Registration Certificate:
Step 1: Incorporate Your Company:
First, you have to incorporate your Company in India into a Private Limited Company or Partnership or LLP. You just need to follow the normal procedure which involves filing a form-fitting to get the Registration.
Step 2: Register under Startup India Scheme:
- After that, you must register your company or firm under the Startup India Scheme. You have to fill all the vital details in the form which is available on the website of Startup India & then upload some vital documents also.
Step 3: Upload Documents:
- You need a Registration Form along with the recommendation letter. You can get anyone’s recommendation letter which is mentioned below:
- A Recommendation Letter from any PG College in India or in a format that is approved by DIPP;
- A Recommendation Letter from an incubator that the Indian Government funds as a part of any specified scheme to promote innovation;
- A letter of funding not less than 20% in equity by an Incubation Fund, or Private Equity Fund, Accelerator, and Angel Fund & which is registered with SEBI that countersign with the innovation nature of the business;
- A recommendation letter by any State Government or the Central Government of India;
- Incorporation Certificate, you need to upload the Certificate of Incorporation of your Company or LLP or a Registration certificate for a Partnership Company & provide a brief description of your business.
Step 4: If you need Tax Exemption then mention it:
- After receiving recognition, a Startup has the opportunity to seek Tax exemption under Section 80 IAC of the Income Tax Act. Upon obtaining approval for Tax exemption, the Startup becomes eligible for a tax holiday spanning 3 consecutive financial years within its initial 10 years of incorporation.
Step 5: Get your recognition number:
- For the registration of the application, you will get a Recognition Number. After the Authority goes through all your uploaded documents when you get the Certificate of Incorporation.
- Now enroll your Company into the Startup India Scheme & reap all the benefits which are provided by the Government of India.
How can RegisterKaro help you?
RegisterKaro is the best legal services platform for Startup India Registration offering a variety of Company Incorporation services like LLP, Private Limited, Public Limited, Partnership, OPC, Section 8 Company, Producer Company, Indian Subsidiary, etc. RegisterKaro will help you with Startup India Registration from the comfort of your home offering you services that are very specialized & tailored for each individual.
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FAQs
What is Startup India registration?
Startup India registration is a government initiative that offers various benefits and incentives to startups in India. It provides recognition and support to innovative and budding entrepreneurs.
Who is eligible to register as a startup in India?
Any business entity, including a private limited company, LLP, or partnership firm, can register as a startup if it meets the eligibility criteria defined by the government.
What are the eligibility criteria for Startup India registration?
To be eligible, a startup must be incorporated in India, be less than 10 years old, and have an annual turnover below a specified limit.
How do I register my startup with Startup India?
You can register your startup on the official Startup India portal by providing necessary details and documents. It’s a simple online process.
Is there a fee for registering with Startup India?
No, there is no fee for registering your startup with Startup India. The registration process is free of cost.
What benefits do startups get after registration?
Registered startups can access various benefits, including tax exemptions, funding opportunities, intellectual property support, and more.
How long does it take to complete the Startup India registration process?
The registration process typically takes around 15-20 minutes to complete online.
What documents are required for registration?
You’ll need documents like Certificate of Incorporation, PAN card, and a brief description of your business for registration.
Do I need a unique idea or innovation to register as a startup?
While innovation is encouraged, having a unique idea is not mandatory for registration. Your business should aim to provide a solution to an existing problem.
Is there any age limit to register as a startup founder?
No, there is no specific age limit to register as a founder of a startup in India.
Can foreign nationals or non-resident Indians (NRIs) register a startup in India?
Yes, foreign nationals and NRIs can register a startup in India. However, they must comply with certain guidelines.
What are the tax benefits for registered startups?
Registered startups can avail of income tax exemptions for a specified number of years under Section 80IAC of the Income Tax Act.
Are there any restrictions on the type of business that can register as a startup?
Most business types are eligible to register, except those involved in gambling, tobacco, or illegal activities.
Can I register my existing business as a startup?
Yes, you can register an existing business as a startup, as long as it meets the eligibility criteria.
Is there a time limit for availing benefits after registration?
Startups can avail of benefits for a period of 10 years from the date of incorporation or registration, whichever is earlier.
What support does Startup India provide for intellectual property rights (IPR)?
Startup India offers fast-track examination and an 80% reduction in patent filing fees for startups to promote and protect their innovations.