Startup India Registration

Overview of Start-up India Registration

The Government of India's well-known "Startup India" program aims to promote innovation and entrepreneurship. It is necessary to get a Startup India Registration Certificate to use the program's benefits and assistance. Through the registration process, which calls for certain paperwork, startups can be eligible for a number of programs and support. Certain criteria are used to determine eligibility for Startup India Registration, ensuring that startups that meet the requirements can take part in the program's initiatives.

Startup India and Seed Fund Scheme (SISFS)

The Seed Fund Scheme (SISFS) and the Startup India programme are two distinct but related programmes meant to support young Indian startups. Here's a summary of each:

1. Startup India

• A nationwide initiative launched by the Government of India in 2016 to foster a vibrant startup ecosystem and encourage entrepreneurship.

• Offers a variety of benefits to eligible startups, including tax exemptions, compliance simplifications, funding access, regulatory support, and branding opportunities.

• Registration is not mandatory: Startups can access many benefits without formal registration. However, registering provides access to certain exclusive benefits and recognition.

2. Seed Fund Scheme (SISFS)

• A financial assistance program was launched under the Startup India initiative in 2016.

• Provides seed funding to eligible startups for proof of concept, prototype development, product trials, market entry, and commercialization.

• Funds are disbursed through approved incubators across India.

• Eligibility: Startups recognized by DPIIT (Department for Promotion of Industry and Internal Trade), incorporated not more than 2 years ago, and meeting specific criteria.

Benefits of Start-up India Registration:

Process of Startup India Registration

While official registration with Startup India is not required in order to avail many benefits, it does provide certain special benefits and recognition. If you choose to register, the following is a comprehensive guide to the process:

Eligibility for Startup India Registration

• Your company must be:

• Registered as a private limited company or a registered partnership firm in India.

• within 10 years of the incorporation date, at most.

• attempting to develop, innovate, or enhance goods and services.

• Have a turnover of less than Rs. 100 crore in any previous financial year.

Process 

1. Visit the Startup India portal: https://www.startupindia.gov.in/

2. Click on "Register" and choose "New User".

3. Provide your name, email ID, mobile number, and create a password.

4. Click on "Register" and enter the OTP received on your email and mobile number.

5. Fill out the application form with details about your company, founders, and business.

6. Upload required documents (e.g., PAN Card, company registration certificate).

Documents Required for Start-up India Registration:

Following are the documents required for startup India registration. Let us take a look.

• Director’s Complete Profile.

• Pan Card and Adhar card 

• Driving license of Directors 

• Address proof, like electricity bill, gas and water bill etc.

• Proof Registered Office 

• Written evidence supporting your official website, a link to it, or a pitch deck.

• Certificate of Incorporation of the startup.

• Trademark or Patent details.

• Articles of Association/Incorporation.

• A Non-Disclosure Agreement.

• Contracts & Offer Letters of Employees.

• Shareholders’ Agreement.

• Bylaws.

• Intellectual Property Assignment Arrangements.

• Founder and/or Co-Founder Agreement.

• Business Plan or Pitch Deck.

All the above documents are explained and collated via a proper communication channel by our team of experts, so your Startup Registration becomes less cumbersome.

Procedure for StartupIndia Registration

There isn't just one mandatory "startup registration" procedure in India, but business owners can take advantage of two related programs to receive multiple benefits and support:

1. Company Registration:

This is the initial legal step to establish your business entity. Here's the process:

Eligibility: Any individual or group can register a company.

Steps:

1. Choose your business structure: Private Limited Company, Partnership Firm, Limited Liability Partnership (LLP).

2. Obtain the Director Identification Number (DIN): which is required for every candidate for director.

3. Obtain a Digital Signature Certificate (DSC) :through online application.

4. File incorporation documents: Includes MOA, AOA, and other forms with the Registrar of Companies (ROC).

5. Obtain Company Identification Number (CIN): Upon successful registration.

6. Apply for PAN and TAN: Contact the Income Tax Department to get your company's Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).

7. Create a Bank Account: Create a bank account with any bank of your choosing in the name of your business.

Resources:

• Ministry of Corporate Affairs (MCA): https://www.mca.gov.in/: 

• MCA21 e-filing portal

2. Startup India Registration (Optional):

This isn't mandatory but unlocks specific benefits and recognition.

Eligibility:

• Registered as a private limited company, partnership firm, or LLP within India.

• Not older than 10 years from incorporation.

• Working towards innovation, development, or improvement of products or services.

• Turnover less than Rs. 100 crore in any previous financial year.

Steps:

1. Visit the Startup India portal

2. Click "Register" and enter details.

3. Upload documents and self-certify compliance.

4. Pay processing fee (if applicable).

5. Receive Startup India registration Certificate upon approval.

Taxlegit Guide for Startup India Registration: