Understanding Startup Registration In India, Its Benefits & Process

The term startup is considered as the business entity which is in its initial stages of operations. The startups are founded by either a single or more than one of the entrepreneurs who intend to provide products/ services to the public for which they believe there is a demand. So, such businesses will be starting with increased costs along with limited revenue, when they will be looking for capital from many distinct sources for example venture capitalists.

Understanding about startups

The startups are businesses/ ventures that are being focused upon a single offering( products/services) that the founders will be looking forward to bringing to the market. So, such organizations won't typically have a developed business model or lack adequate capital for moving toward the next phase of the business. Also, the majority of the companies will be initially funded through the founders. Many of the startups will be turning towards others for greater funding and this will include family, friends as well as venture capitalists.

What are Government initiatives for startups in India?

The Governmental authorities will be supporting all the young business enthusiasts in establishing their startups. The reason is that it is going to give a boost to the economy of the country. Also, the startup is the business entity that offers the most innovative of the products/ services and extends solutions to problems existing in the society. So, the startup will be redeveloping the existing products/ services and transforming them into something much better.

Startup India initiative

The Government of India has already taken the initiative of starting as well as promoting the Startup India program for growing the Indian economy, promoting new businesses along attracting new talents.

What is the procedure of startup registration India?

The first step is the incorporation of the business entity whether it is a private limited company(PLC), partnership firm, or LLP( limited liability Partnership). Make sure to adhere to all the procedures for registering your business for example submission of the registration application, seeking certification of incorporation, or partnership registering.

Also, the specific business entity must have registration as a startup. The whole procedure is online, simple, and also sophisticated. So, you need to visit the site of the Startup India, by clicking upon the registrar icon. Make sure to enter your name, email ID, contact details, and password along with clicking on the register icon.

The next step once the profile is created on the startup India is to seek the DPIIT( department of Promotion of Industry & Internal Trade) recognition. Such type of recognition will assist the startups in seeking benefits for example access to premium quality intellectual property solutions as well as resources, relaxation in terms of public procurement regulations, self-licensing as per labor & environmental laws, convenience in terms of winding company, access funding, exemption to the taxation for period of 3 consecutive years, exemption on taxation on investment which is greater than fair of the market value.

Upon startup recognition form, you are required to fill out all the details which will include information about your business, complete office address, authorized representative details, director or details of partner, information needed, activities of all startups as well as the certification. So, all you have to do is to click upon the plus signs which are printed on the form’s right-hand side along with entering form’s each & every action.

Documentation for registrar

Whenever you require a patent for innovation or a trademark for business, then you can conveniently approach from the facilitator's list having issuance from Governmental authorities. So, you are required to bear just the statuary fees while seeking around 80% of the fee reduction.

The startups will be self-certifying as per the labor & environmental laws and also in that case, there will be a reduction in the compliance cost.

The self-certification is extended for reducing the regulatory burden and facilitating them for focussing on core business. So, the startups will facilitate the self-certification of the compliances as per the labor & environmental regulations for an extended duration of 3-5 years from incorporation tenure.

What is the procedure for seeking startup registration in India?

The Government of India has already simplified the startup India registration procedure. And many of the young & budding entrepreneurs are required to seek the 5-step process for getting their startups registered. Here are the steps for registering your startup in India:

There must be the incorporation of the company in terms of the LLP, PLC, or partnership firm. Also, you are required to submit the application form for the receipt of the incorporation certification. Make sure to submit an application form to register startup in India , to the companies/ registrar of firms as well as all the crucial paperwork as well as fees.

The firm is required to register on the Startup India site.So, you are required to visit the official site as well as click upon the registration provision. Make sure to fill in the requisite of the detailing as well as the creation of the account. Then, there will be the creation of the startup India profile. Once this is accomplished, you are eligible for acceleration programs, competitions as well as other resources.

The DPIIT( department of Promotion of industry & internal trade) recognition will be assisting you through world-class intellectual property solutions as well as resources. Also, you are required to log in the register the account on the website for Startup India along with clicking upon DPIIT recognition for startups as per the schemes as well as the policies tab. After that, you need to click for submission of application for recognition on the button displaying startups.

This is the next step where you need to fill Startup India registration form. Make sure to enter all the details for example address of your office, authorized representative detailing, partner/ director information, all activities undertaken by an entity as well as the self-certification. Once such details are filled in, make sure to click upon the terms and conditions accepted, while submitting the form.

The next and last step is to wait for all the details to get verified. Once the procedure of verification is accomplished, there will be a receipt of the email along with the registration certification. The paperwork needed for the whole of the startup registration India procedure will include incorporation/ registration certification for a startup, PAN number, funding proof, and many other papers.

Hire Consultants For Startup Registration In India

Now startup India registration is possible with the help of expert consultants who will guide you throughout the procedure. The team of specialists will ensure that the form is filled with all the requisite information, product description, as well as all the prescribed documentation. So, the consultants are here to assist you in seeking startup India registration in a convenient, affordable way within the minimum stipulated time frame.