Startup India Registration Scheme
The Startup India Scheme is an initiative by the government of India aimed at encouraging the development and innovation of products and services and the creation of employment opportunities across the country. One of the goals of the scheme has been simplifying how to register a startup in India by reducing regulatory burdens and allowing them to focus on their core business while keeping compliance costs low and also providing multiple benefits, aside from the massive networking opportunities provided by the bi-annual startup festivals held by the Government of India both domestically and internationally. Start-up India is a flagship initiative of the Government of India, intended to catalyse start-up culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. https://www.registerkaro.in/ Benefits of Startup India Scheme As per the guidelines of DPIIT guidelines, a recognised start-up gets the following benefits: 1. Self-Certification: For Compliance under 9 environmental & labour laws 2.Tax Exemption: Income Tax exemption for a period of 3 consecutive years and exemptions on capital gains & investments above Fair Market Value. 3. Easy winding up of company: Within 90 days under insolvency & Bankruptcy code 2016. 4. Startup Patent Application and IPR protection: Fast track & up to 80% rebate in filing patents. 5. Easier Public Procurement Norms: Exemption on EMD and minimum requirements. Get listed as a seller! 6. SIDBI Fund of Funds: Funds for investment into startups through Alternate Investment Funds. Eligibility for Startup India Registration To be eligible under this scheme, a start-up must be incorporated as a Private Limited Company under Indian Companies Act, 2013, a Limited Liability Partnership (LLP) under Indian Limited Liability Partnership Act, 2008 or a partnership firm under the Indian Partnership Act, 1932. As per the Start-up India Action plan, the followings conditions must be fulfilled to be eligible as Start-up: Being incorporated or registered in India up to 10 years from its date of incorporation. Is a private limited company or registered as a partnership firm or a limited liability partnership. Has an annual turnover not exceeding Rs. 100 crores for any of the financial years since incorporation/registration. Is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation. Note - It is important to note that an entity formed by splitting up or reconstruction of an existing business shall not be considered a ‘Start-up’. Also, an entity will not be called a start-up after: Completion of ten years from the date of its incorporation/registration, or Achieving turnover in any previous year more than Rs. 100 crores. Documents required for Startup India Registration Registration Certificate(s) Certificate of Incorporation as Private Limited Company Or Certificate of Incorporation as LLP Or Certificate of Registration as a Partnership Other Documents Permanent Account Number (PAN) MSME Registration Number Details Required Details of Directors / Partners Profile of Promoters A detailed write up on the Start-Up Our Startup India Registration Process 1. Register the business as a Private Limited Company / Limited Liability Partnership / Partnership Firm if not already registered 2. Obtain PAN for the Business if not available 3. Obtain MSME Registration for the Business 4. Our experts will help you in making a brief writeup on the following: a. What is the problem the startup is solving? b. How does the startup propose to solve this problem? c. What is the uniqueness of the solution by the startup? d. How does the startup generate revenue? e. Details of any awards/recognition received by the startup 5. We will then file your application at www.startupindia.gov.in 6. We will the be submitting supporting documents such as Certificate of Incorporation / Registration Start-Up India Hub will review the application and if the application fulfils the Start-up India guidelines and conditions, will grant recognition as a Startup and will issue the Certificate of Recognition.
