Startup Registration In India- Its Definition, Eligibility & Step By Step Procedure

Startups are booming in India.The Governmental authorities provide support & guidance to young entrepreneurs for helping them to start their business. And undeniably startups serve as the big boost to the economy of any country. Startups are booming at an extremely fast pace in the country.

The Government of India is also supporting the young as well as budding entrepreneurs in establishing startups. Also, this will boost the economy of the country and the general wealth of employment opportunities for the masses. In fact, the Government has also come up with the Startup India initiative and this type of move will assist in the growth of the Indian economy, recognizing as well as promoting the startups as well as attracting the most talented of the businesses from all over the world.

The startup business will be providing the most innovative of the products/ services and dealing with extending the solution to the problems that exist in the society today. So, the startup will be re-designing & developing the existing of product service transforming the same into something better and more valuable.

Why there is a need to register startup in India?

The Startup India Registration initiative is the recognition that is extended to the startup through the DPIIT. So, this type of recognition will assist the new business for seeking advantages concerning the Flagship Startup India scheme which was introduced in the year 2016. The goal of the Startup India scheme is to create a robust ecosystem to nurture businesses as well as innovative products/ services. So, the ultimate aim is the attainment of long-term goals for the generation of employment as well as the creation of wealth.

A few of the other benefits of the Startup India scheme will include tax exemptions for new businesses, fast-track statuary clearances, convenient funding as well and facilities of credit. So, the most recognized of startups will receive quick FDI approvals and rebates on intellectual property protectivity. Thus, registering according to the Startup India scheme will facilitate businesses to seek the advantages effortlessly. Thus, through the realization of the relevance of the startup, some companies provide end-to-end assistance to the business for startup registration in India.

What kind of businesses will be holding eligibility for startup registration in India?

Not every new business can be considered as a startup. To be considered as a startup in the country, the businesses are required to be identified by the DPIIT, along with the fulfillment of some of the specifics of the enlisted and prescribed eligibility criteria. So, much of the criteria will be related to the structure of the business, how old the business is, what business activities it is undertaking as well as the turnover.

So, given below is the detailed list of the startups in India eligibility for seeking recognition:

Business activities while starting startup involves developing innovative items, services along with the procedures

So, the registration which will be done according to the Startup India scheme will not only be granted to the startups who have the most innovative of items or services. So, the most detailed of the product or the service description will be extended in this particular context.

What are formalities are needed to be accomplished for startup India registration?

Here is the table which comprises the comprehensive list of the documentation that needs to be filed under the Startup India registration scheme. These documents are compulsory along with the requirement of a few of the additional paperwork. Also, additional paperwork needs to be submitted with regard to the stage of the startup.

There is also additional documentation which are required to be submitted based on the stage of the startup

There is no need for any documentation

Pitch Decking or website linking

Submission of pitch desking/ video presentation or site link

What are the advantages to register startup in India?

The registration of startups under DPIIT came into existence through the purpose of facilitating new businesses to be identified under the startups for seeking advantages under the Startup India scheme. So, the goal is to reduce the ultimate financial along compliance burden on the businesses during the initial stages of the business. So, this will assist in coping with all the challenges that they might be facing.

Let’s have a look at some of the most eminent of the benefits that are rendered to only the businesses that are recognized as well as registered as startups.

Fast, convenient as well and 100% self-certified e-compliance is available on the Startup India portal for reducing the compliance burden on new businesses.

There will be income tax exemption for three of the financial years, u/s IAC for the businesses. Along with capital gains from tax exemptions as per angel investors u/s 56.

There are intellectual property protection rights for startups which are rendered in cost cost-effective way and this will be extending 80% of the rebate on patent filing along with 50% of trademark filing rebate.

There are publicly accessible of the documentation meant for the incubators along with the winding up quickly within period of 3 months according to the insolvency as well as he bankruptcy code.

The documentation is publicly accessible for incubators, as well as the quick track winding up within 3 months as per the code of insolvency as well as bankruptcy.

There are more than 10,000 crores of the funding as well as the loans as per the credit guaranteed scheme. This will be securing the funding shortage through the financial resources.

What are steps adopted for startup Registration in India?

Are you wondering what is the way to register startup in India? How can I register my startup under DPIIT? Well, this blog explains the step-by-step procedure, ranging from applying, and submitting documentation along with all other procedures for helping you to carry out the entire of process in a convenient, affordable manner within a minimal of time frame.

Any of the unregistered businesses is not in the position of qualifying as a startup under the Governmental scheme. So, the initial step towards recognition of the business is to incorporate the same with the concerned authorities.

The business must be incorporated like the LLP, PLC, or partnership firm. so, one is required to submit the application form for the purpose of the receipt of the incorporation license. Then submission of the application form needs to be done to the businesses/ or registrar of the firm as well as the necessary documentation as well as the fees.

The next step will be to register the entity by filing all the details on the startup India portal. So, for that, you are required to submit information as well as the contact details and there will be verification through OTP. The contact details will include your registered mobile number as well as the email address.

Make sure to fill out all the information which will include details about the startup, directors/ partners, authorization of the representative, and much more. Also, you need to provide details about the business plan, funding, intellectual property along business activities.

In the next step, you will click on the DPIIT recognition on the portal and there will be the form that will appear on the screen. Make sure to enter all the details in the form as well as the scanned copies of all the prescribed paperwork.

After careful evaluation, examination as well and verification of the application, the business owner will be finally issued the DPIIT recognition certification

How Startup India Registration Online Consultants Help You?

The Startup India registration online consultants provide end-to-end and thorough assistance. The team of legal experts will be taking all your stress away by filing applications and collecting and submitting paperwork. So, this will ensure that whatever the information extended is accurate, updated as well as completely verified. Also, guidance will be extended to the clients regarding the eligibility conditions and also to ensure the application approval without any sort of hindrance.

So, by hiring startup India registration help providers, get ready to increase the chance of seeking registration of your business from the concerned authorities quickly and affordably.