Are you looking to understand the Startup India Registration Process? This guide will walk you through everything you need to know in a simple and practical way. Before diving into the registration steps, it's important to understand what defines a startup in India and the eligibility criteria under the Startup India Scheme.
What Is a Startup Company?
According to the Ministry of Commerce and Industry, a startup is an organization that works toward innovation, development, or commercialization of products or services, driven by technology, intellectual property rights (IPR), or patents. However, the company’s annual turnover must not exceed ₹100 crore in any of the previous financial years.
The purpose of Startup companies is to contribute to the development of existing systems. Apart from this, every startup has a different perspective on scaling.
Startup India registration offers various benefits to organizations. The Government of India has launched several startup schemes aimed at encouraging self-employment.
Documents Required for Startup Company Registration
To register your startup under the Startup India Scheme, you’ll need the following documents:
- Digital Signature of the organization
- Certificate of Incorporation
- Signed authorization letter for submitting the application
- Entity logo (whether registered or unregistered)
- Optional supporting documents:
- MSME Certificate
- GST Certificate
- Trademark Registration
- Award or recognition certificates
Overview of the Startup Company Registration Process
Here are the steps to register a startup in India:
- Incorporate Your Business: To register under the Startup India Scheme, first, you need to choose a suitable business entity, a private limited company, a limited liability partnership, or a One Person Company.
You will have to follow the normal procedure to register the business and obtain the certificate of incorporation of the company. Then you have to register yourself under Startup India.
- Visit the Website: You can apply via the National Single Window System portal, managed by the Government of India.
- Creation of a Login ID: Create the login ID with the company’s email, and set the password according to your choice. Confirm all the details and verify them.
- Prepare the Organization's Digital Signature: The digital signature of the organization is mandatory for the Startup India. For the digital signature, authorization letter, and company’s incorporation certificate, a PAN card and Aadhar card of the authorized person are required.
- Prepare and Collect all the Documents: Incorporation certificate, signed authorization letter, entity logo, and any other optional documents like MSME certificate, GST certificate, trademark registration, and any award recognition certificate that have been attached to the form.
- Fill out the Application Form: Fill out the form by giving all the details about the business, including how your startup is unique, wealth creation, employment generation, and the problem you are solving for the country.
- Submit the Application: The last step is to submit the application with all the required details and get the DPIIT recognition certificate.
Note: Follow these steps to officially register your startup and unlock government-backed benefits.
Benefits of Startup Company Registration
While Startup India registration is a beneficial option for legal purposes, choose to complete it. Recognition under Startup India offers benefits such as tax exemptions, simplified compliance, and access to government funding. Let's see how
- Business Gets a Separate Legal Stature: The business you register will be considered a legal entity, and your company will be able to buy and sell more land on its behalf, conduct operations throughout India, and make calculated decisions to increase profits.
- Financing Help by Government Schemes: The government of India is determined to provide multiple platforms for young entrepreneurs to grow, explore new opportunities, and expand the economy.
- Help From Banks: Startup India also enables you to carry out personal activities like obtaining a loan for business use. If you have a registered address and proof of the company, the banks will easily approve a loan in your favour.
- Tax Exemptions: A startup that is recognized enjoys income tax exemption for three consecutive financial years out of its first ten years since incorporation.
Conclusion
Understanding and completing the Startup India Registration Process is essential for startups aiming to grow legally, attract funding, and gain government support. From legal recognition to tax benefits, the advantages are numerous.
Need help with the Startup India Registration Process?
Get expert assistance from JustStart to register your startup hassle-free and tap into the full potential of the Indian startup ecosystem.
Frequently Asked Questions (FAQs)
1. How long does Startup Registration take?
If all documents and details are ready, the process can be completed within one day.
2. What are the mandatory rules for Startups in India?
- Must be registered as a Private Limited Company, LLP, or OPC.
- Organizational digital signature is required.
- The company logo (registered or unregistered) must be submitted.
3. Who is eligible for the Startup India Scheme?
Entities like Private Limited Companies, LLPs, registered partnership firms, and OPCs are eligible.
4. What can I do to attract investors to my startup?
Gain traction by officially registering your startup, showcasing its innovation, and clearly demonstrating sustainability and value to potential investors.
