Startup India Registration
Reduce the regulatory burden on your business by completing startup India registration with JustStart. We will support your entrepreneurship drive and strengthen your business structure by keeping you lawfully compliant.
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Startup Registration in India
Times like COVID-19 teach us valuable lessons about life the hard way. On the one hand, the economy plummeted to its lowest in a decade, and the world was left with no choice but to come back stronger. Entrepreneurs across the nation buckled up for a new start. As a result, a record-breaking number of startups were launched in 2020.
Additionally, the race to get an edge over the corporation grew even stronger the next year, backed by a latent force of legal advisors providing the right counseling on company registration online whether it is a private limited company, a public limited company, a one-person company or a limited liability partnership, To know the difference between different business identities.
Registering the type of business entity you will own is crucial to ensure your organization gets a legal status in India and can run without any hiccups. An online company registration is also a way to inform the government of India of your business’s presence in your area. Therefore, getting loans and executing agreements has become much easier
Some More Benefits of Company Registration Online
While registering a company in India is a rewarding choice for legal purposes, choosing to complete online company registration is a smart way to take the level of your business one notch up. Let’s see how:
- Entrepreneurs Are Not Subject to Bear Personal Liabilities: Forming a business and registering it eliminates the risk of having to pay collateral in the form of giving up personal assets in case of financial loss. On the other hand, registering a company allows business partners to decide the extent of liability they will bear.
Read Related Article: Relation of Partners Under the Partnership Act 1932
- 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.
As a result, the government of India keeps launching schemes such as StartUp India Registration, which is an initiative taken to boost India’s startup ecosystem with a new host of startup benefits like recognition by DPIIT (Department for Promotion of Industry and Internal Trade), SAMRIDH BHARAT, and many others. Meeting certain standards under such schemes will make you eligible to access tax benefits, complete legal compliance, and track IPR speedily.
However, a vital point to remember over here is to stay legally compliant—part of which might require you to know the company’s period of existence, type, annual turnover, original entity, and scalable measures taken to improve products.
More often than not, this is an area most startups feel daunted by. But not anymore. If you don’t know where to start, get a FREE consultation with our legal experts today.
- Perpetual Succession: When you complete company registration online, your incorporation gets an unlimited life span. For example, if anything happens to one partner of the company, the business’s identity doesn’t end there. A company’s operations will cease completely only if the owner wants to apply for the company’s closure. In that case, the owners will need to complete all the legal formalities of company closure.
- Help From Banks: Startup India registration 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 commission a loan in your favor.
Read Related Article: Learn About Different Modes of Funding
Now that you know about the benefits of registering a startup online, let’s check out the Startup Registration Online process.
Online Startup Registration Process in India
Incorporating a business means bringing your organization into existence through formal and official means in the eyes of the government. Typically, there is a lot of proforma filling such as SPICe-INC-32, eMOA (INC-33), and eAOA (INC-34). In India, companies can be incorporated only through the SPICe form. You may also need to complete other formalities like:
- Obtaining a DSC
- Checking the company name
- Finding CIN
- Completing Compliance Filings
- Getting Name Approval
- Obtaining a Bank Account
Register with StartUp India is an initiative by the Government of India for entrepreneurs to connect with a network of startups, access free tools and resources, and participate in programs and challenges.
WITH THE STARTUP ECOSYSTEM
IN CHALLENGES & PROGRAMS
USEFUL TOOLS & RESOURCES FOR FREE
Step 3: Recognition Application
Filing the application form is the first step towards obtaining the DPIIT recognition certificate. Certain specified information about the startup needs to be disclosed here.
Step 4: Documentation for Registration:
Our team of legal experts at JustStart will ensure that we follow each and every step of your company’s DPIIT recognition with diligent care. To further the process, we may ask you to provide a few details.
Step 5: Get DPIIT Recognition
Once you provide all the details, DPIIT will issue your startup a recognition number if it is satisfied that your business fulfills the criteria for being a startup. You can use this ID or recognition number to avail benefits from several government schemes.
Benefits of DPIIT Recognition:
Although we have dealt with this section above, here is a summary in bullets:
- Your company gets tax exemptions.
- Self certification under environmental laws.
- Preference in government tenders
- Leniency in trademark filing and other compliance
- Easy winding up of company
Points To Know To Get DPIIT Recognition Number
- Your startup should not be older than 10 years.
- During the fiscal years, your company’s turnover should not exceed one hundred crore rupees.
- Your company should be employed in innovating, developing, or improving products with a high potential for employment generation.
- Your startup should not form another business or reconstruct a business already in existence.
Choose JustStart For Your Startup India Registration Consultant Services?
Starting your own business takes great courage, especially if you are in India, where giving up your 9 to 5 safe job is considered a huge risk. But today’s entrepreneurs know that without risk, there is no success. That is why JustStart is pushing the dreams of these visionaries one step closer to reality by becoming their legal advisors. We Promise To Be Your Lawfully Startup Registration Partner: For Better. Whatever it takes to launch your startup, we will help you stay within legal bounds. We are the sign that you have been looking for.
LET'S CLEAR ALL THE DOUBTS!
The government of India launched the Startup India registration scheme in 2016. The scheme became effective on January 16, 2016 with the objective of building a robust ecosystem for new startups.
- As per the Ministry of Commerce and Industry, there are a few requirements/eligibility criteria that a company must fulfill to complete the startup India registration process:
- The company must be a private limited, limited liability partnership or a registered partnership firm.
- The company should not be older than 10 years.
- The company should not indulge in forming another company.
- Annual turnover should not exceed Rs 100 CR.
- Lastly, the business should be innovative and scalable.
The flagship initiative by the government of India was conceptualized with the aim of becoming a catalyst in the startup culture becoming more prominent in India. The government aimed to create an all-inclusive ecosystem where startups could connect, innovate, and access each other.
Startup India registration is a fairly long process, including 5 lengthy steps, which is also a reason why business owners usually prefer to hire professional services like JustStart.
s we told you above, we are a legal team of experts decades of experience dealing in law, regulation, and other compliances. Apart from this, here are a few more reasons why we are a perfect fit for your startup India registration needs:
- JustStart consists of qualified CS, CA, lawyers, and business administrators.
- 360° Corporate Legal Support
- We are a one-stop-shop solution for incorporations, Startup India online registration, and other professional services.
- On-Time Service
- Super Support and Fast Service (Call, Email, Chat)
- Affordable than other professionals and service providers
- Point-to-Point update and dedicated relationship manager for guidance on upcoming compliance and other requirements.
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Our Popular Services at Glance
Private Limited Registration
- No minimum capital requirement
- Limited Liability
- Tax Advantages
- Business Continuity
- FDI Allowed
- Builds Credbility
- Personal Reputation
- No minimum capital requirement
- Legal Recognition
- Lower Registration Cost
- No requirement of compulsory Audit
- Savings from lower compliance burden
- Taxation relief
- Easy Transferable Ownership
- Separate legal entity
- Liability of the members is limited
- OPCs allow the Transferability of shares
- Savings on compliances
- It has to mention a nominee while registering the company
- No minimum paid-up capital required
- Builds trust and Goodwill
- Differentiates Product
- Protection against infringement
- Global Trademark Registration
- Attract Human Resources
- Exclusive Rights
- Recognition to product’s Quality