How to Register your startup in India

A startup is a newly formed company that is typically small and was founded by one or more people. A startup offers a novel good or service that isn’t provided in the same way elsewhere, which sets it apart from other young companies. Innovation is the operative word. The company either creates a brand-new good or service, or it improves upon one that already exists.

How to register your startup in India

Step 1: Incorporate your Business 

Your company must first be incorporated as a Limited Liability Partnership, a Private Limited Company, or a partnership firm. You must adhere to all standard business registration requirements, such as submitting an application and receiving a certificate of incorporation or partnership registration.

Under the 2013 Corporations Act, there are numerous forms of companies available in India. The most typical examples are: 

One-Person Company (OPC): An OPC is a business that is solely owned and operated by one person. 

A private limited company is regarded as a privately owned and independent legal entity by the individuals who formed it (Pvt. Ltd.). Under Startup India, taxes are waived for the first three years of operation and depreciation benefits are increased. 

Public Limited Company (PLC): A Public Limited Company is a collective of members or volunteers that has been incorporated under the Company Law as a publicly owned and independent legal entity. 

Others include cooperatives, unincorporated businesses, partnerships, sole proprietorships, and Hindu undivided families.

Step 2: Become a member of Startup India 

After that, the company needs to register as a startup. Everything is straightforward and done online. Click the “Register” button as displayed below while you are on the Startup India website. 

After providing your name, email address, mobile number, and password press the “Register” button. 

Enter the OTP that was provided to your email along with other information. The Startup India profile is established after these facts are entered. 

After creating a profile on the website, companies can apply for a variety of challenges, incubator/mentorship programmes, and acceleration programmes, as well as have access to resources including learning and development programmes, government programmes, state policies for startups, and free services.

Step 3: Get recognized by DPIIT 

Making a request for the Department for Promotion of Industry and Internal Trade (DPIIT) Recognition is the next step after creating a profile on the Startup India website. With this recognition, startups are better able to take advantage of benefits like easy company winding, access to Fund of Funds, tax exemption for three years in a row, and tax exemption on investments that are more expensive than fair market value. Other advantages include the relaxation of public procurement rules, self-certification under labour and environmental laws, and self-certification. 

To receive DPIIT Recognition, log in to the Startup India website using your registered profile (account) credentials and select the “DPIIT Recognition for Startups” button under the “Schemes and Policies” tab.

Step 4: Fill in the application of Recognition 

You must fill out the “Startup Recognition Form” with information about the entity, the full address (office), the authorised representative, the directors, the partners, the information needed, the startup activities, and the self-certification. Enter data in each field by clicking the + symbol on the form’s right side. 

Step 5: Documents required for registration

  • Incorporation/Registration of a certificate for your business 
  • Evidence of funding, if any 
  • Authorization letter from the corporation, LLP, or partnership firm’s authorised representative 
  • Proof of concept in the form of a pitch deck, website link, or video (for a startup in the validation, early traction, or scaling stage). 
  • Details of any patents and trademarks 
  • List of honours and awards, together with their PAN numbers

Step 5: Identification Number 

You are done now! You will receive a startup recognition number after applying. The inspection of all your papers will lead to the issuance of the certificate of recognition, which typically happens two days following the online submission of the information.

Leave a Comment

Your email address will not be published. Required fields are marked *