Startup India Registration, Eligibility, Benefits & How Apply procedure guide can be checked here. The Central Government has recently launched a new scheme named Startup India Scheme. The purpose of the government behind starting this scheme is to provide employment opportunities across the country. Therefore, now all the unemployed youth of the country who want to get Startup India Certificate need to get their Startup India Registration done for this. Under this initiative, all those unemployed persons who want to set up a startup of their own can get benefits by the government by registering themselves under this scheme.
About Startup India Scheme
The Government of India has launched the Startup India Scheme with an aim to encourage development and innovation of products and services and to create employment opportunities across the country. Under this scheme, the central government has decided to reduce the regulatory ban and allow a startup to be registered in the country to focus on core business while keeping the compliance cost low.
Apart from large scale networking opportunities, many more benefits will be provided by the Central Government through Startup India Certificate. Not only this, now the Government of India will also organize the biennial startup festival at domestic and international level. If you want to do Startup India Registration, then we have provided detailed information below for your convenience.
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Benefits of Startup India Registration
The following benefits are provided to a recognized Startup with Startup India Certificate as per the guidelines of DPIIT.
- Beneficiaries are given all certificates for compliance with 9 environmental and labor laws.
- Beneficiaries of Startup India Scheme are provided income tax exemption and capital gains as well as investment above fair market value for three consecutive years.
- Under the Insolvency and Bankruptcy Code 2016, the easy winding up of the company is done within 90 days.
- Along with this, the applicant is also provided with the facility of Fastrack in filing the patent as well as a discount of up to 80%.
- If the beneficiary is listed as a seller, he is provided MD as per easy public procurement norms and relaxation on minimum requirements.
- Not only this, the beneficiaries are also given the facility of providing funds to invest in start ups through alternative investment funds.
Startup India Certificate Eligibility Criteria
If you want to get Startup India Certificate then for this you have to fulfill the eligibility criteria given below.
- To be eligible under Startup India Scheme Startup must be incorporated as a Private Limited Company under Indian Companies Act 2013, a Society Liability Partnership under Indian Society Liability Partnership Act 2008 or as Edge Partnership Firm under Indian Partnership Act.
- Apart from this the beneficiaries have to fulfill the following eligibility conditions.
- Startups must be created or registered in India for 10 years from the date of incorporation.
- That startup should be registered as a private limited company or a partnership firm here limited giving partnership.
- The annual turnover of the startup should not exceed Rs.100 crores in any financial year even after the incorporation registration.
- Working towards improvement of startup’s products or processes, innovation development of services here is not necessary. Also if it is a scalable business model with high potential for job creation or wealth creation then it will be accepted.
- An entity created by the divestment or reconstruction of any existing business will not be counted as a startup.
- Apart from this, no entity shall be considered as a Startup after the following.
- After completion of 10 years from the date of incorporation or registration.
- Having achieved a turnover of more than Rs.100 crores in any previous year.
Start-up India Scheme Required Documents
If you want to register yourself for Startup India Certificate then you will need the following documents for this.
- Certificate of Incorporation as Private Limited Company Or
- Certificate of Incorporation as LLP Or
- Certificate of Registration as a Partnership
- Permanent Account Number (PAN)
- MSME Registration Number
- Details of Directors / Partners
- Profile of Promoters
- A detailed write up on the Start-Up
Startup India Registration Process
If you want to do Startup India Registration then for this you have to follow the easy procedure given below.
- Register it as a Private Limited Company, Limited Liability Partnership or Partnership Firm if your business is not already registered.
- After this, if you have not yet taken a PAN number for your business, then first of all get your PAN number.
- After this you have to get MSME registration for your business.
- Now you will need to write a short article on the following.
- What is the problem the startup is solving?
- How does the startup propose to solve this problem?
- What is the uniqueness of the solution by the startup?
- How does the startup generate revenue?
- Details of any awards/recognition received by the startup
- Now you have to register your application on www.startupindia.gov.in.
- Along with this, you will also have to submit all the necessary documents.
- Finally, after reviewing your application, the startup India hub will issue a Startup India Certificate by accrediting you as a startup if everything is found to be correct.