STARTUP INDIA REGISTRATION ONLINE
ONLINE STARTUP INDIA REGISTRATION AT JUST RS. 5499/-.
Now a days, Startups are getting very popular in India. The government has initiated a Startup India Registration under the leadership of PM Narendra Modi to recognize and promote startups by encouraging innovations & expansion of business. Startup India scheme is started to transform India into a job-providing market rather than a job-seeking market. Only eligible registered entities such as Private Limited Company, Limited Liability Partnership or Partnership firm can get recognition under Startup India Scheme and it can be done online through Startup India official website.
WHAT QUALIFIES AS A STARTUP ENTITY?
A startup is a newly established entity registered either as a Private Limited Company or as a Limited Liability Partnership or as a Partnership firm. Startups are usually small in size, started by 1 or a group of individuals. The key differentiation between Startups and Other New Businesses is that a Startup offers new innovation-driven products or service that is not being provided by any other existing business in the same way. The business either designs and develops new products or services or made innovations in existing products/services into something better.
BENEFITS OF STARTUP INDIA REGISTRATION
BENEFITS UNDER STARTUP INDIA
ATTRACTS LOAN FROM FOREIGN INVESTORS (ECB)
Recognised Startups can avail loan facilities from Non-Resident Investors/ Foreign Investors (External Commercial Borrowings-ECB) upto $3 million i.e upto Rs.22.5 Crores every financial year through simple RBI compliance mechanism.
FUNDING FROM RS. 10,000 CRORE FOF SCHEME
Indian Government have the remaining balance of Rs. 8,400 crore in their corpus which they are willing to invest in Starups. Till now, Government has already funded more than Rs. 1600 crore in 251 Startups. This is known as FoF (Funds of Funds Scheme).
PROCUREMENT SCHEME AND PRIORITY GOVT. TENDER
There is an Opportunity for Startups to list products on Government e-marketplace for market visibility. There is an Exemption for Startps registered under Startup India Scheme from prior experience or turnover and Security deposit for filing tenders.
RELAXATION IN ANGEL FUNDING FROM INCOME TAX
Under Section 56 (2) (VIIB) of Income Tax Act, 1961, Investments made by an Accredited Investors, Non-Residents, AIFs into eligible Startups are exempted from Angel Tax upto Rs.25 crores
NO MORE LABOUR LAW INSPECTION FOR STARTUPS
After getting Startup India Registration, Recognised Startups can manage their PF, Gratuity, ESIC and Environmental Law Compliance through simple self-declaration on their own.
50% REBATE IN TRADEMARK FEES & 80% REBATE IN PATENTS FEES
Government grants 50% discount on Trademark fees, 80% Rebate on Patent filing fees, if Startups are registered under Startup India Scheme.
INCOME TAX HOLIDAY FOR 3 YEARS
Eligible Startups can claim exemption for 3 consecutive financial years out of their first ten years since incorporation from paying income tax.
DEPOSIT FROM ITS MEMBERS
For a period of 5 years from the Incorporation Date, Private Limited can take deposits from its members under the Companies (Acceptance of Deposits) Rules, 2014.
ELIGIBILITY FOR AVAILING INCENTIVES FROM STATE GOVT
Many Loans, Rebates & Incentives like GST rebate scheme, taxation rebates are announced by the State Governments of India.
STARTUP INDIA REGISTRATION PROCEDURE
STEPS TO REGISTER UNDER STARTUP INDIA SCHEME
Step 1 INCORPORATE YOUR BUSINESS : First step is to incorporate your Entity as a Private Limited Company or Limited Liability Partnership or a Partnership firm. We can help you out with the registration process as Biz Excel Solution is one of the Leading Legal Consultancy Firm in India.
STEP 2 REGISTER WITH STARTUP INDIA : Once your Company or Firm is incorporated, you are ready to apply for Startup India Registration online. The entire process is quite simple and online. You need to Login into Startup India website and fill-up the required details of your business. After successful Email OTP verification, user id and password will be sent on your Email.
Once, your profile is created successfully, startups can apply for various acceleration programmes, mentorship or incubator programmes and other opportunities on the website. You will also get access to resources like Various Government Schemes, State Polices for Startups, Learning and Development Program and pro-bono services.
STEP 3 GET DPIIT RECOGNITION : After completion of Step-2, you can move forward to apply for Department for Promotion of Industry and Internal Trade (DPIIT) Recognition. This DPIIT recognition enables the startups to avail beneficial services like access to high-quality intellectual property and other resources, self-certification under labour and environment laws, access to Fund of Funds, relaxation in public procurement norms, easy winding of company, tax exemption for 3 consecutive years and tax exemption on investment above fair market value and other benefits list above.
STEP 4 RECOGNITION APPLICATION :Now you can fill out the DPIIT Recognition Online form with all the required information asked. Questions and Information asked are as follows: • Write about your Startup in brief. • Current number of employees (including founders) • What is the problem the startup is solving? (in 500-5000 words) • How does your startup propose to solve this problem?* (in 500-5000 words) • What is the uniqueness of your solution? (in 500-5000 words) • How does your startup generate revenue? (in 500-5000 words)
STEP 5 After submission, you will get a recognition number immediately for your startup. The recognition certificate will be issued after the examination of all your documents within a week.
NOTE: It is advised to upload documents with utmost sincerity and honesty. During the verification, if the documentation is found to be forged/incorrect, a minimum penalty of Rs. 25000 and a fine of 50% of your paid-up capital of the startup will be charged.