Strat-up India Registration
Stratup Registration Services by Deepak Prakash & Associates
At Deepak Prakash & Associates, we offer professional Startup India Registration Services to help entrepreneurs and innovators establish and grow their businesses under the Government of India’s Startup India Initiative. This initiative is designed to foster entrepreneurship, provide financial support, and create a conducive ecosystem for startups to thrive in India. Our team of experts guides you through the entire process, ensuring that your startup meets the eligibility criteria and can avail the various benefits offered under the Startup India Scheme.
What is Startup India?
Startup India is a flagship initiative of the Government of India, launched in January 2016, aimed at building a strong ecosystem for nurturing innovation, fostering entrepreneurship, and creating job opportunities in the country. The initiative focuses on simplifying the process of starting and scaling up businesses and providing significant support in the form of funding, tax benefits, and regulatory relief.
The Startup India Registration allows businesses to register as a startup under this initiative and avail of a wide range of benefits that will help them grow and succeed in a competitive market.
Who is Eligible for Startup India Registration?
To qualify for Startup India registration, a business must meet the following eligibility criteria:
Entity Type: The entity should be a Private Limited Company, Limited Liability Partnership (LLP), or a Registered Partnership Firm.
Age of the Startup: The startup should be in existence for less than 10 years from the date of its incorporation or registration.
Annual Turnover: The startup must have an annual turnover of less than ₹100 crore in any of the financial years since its incorporation.
Innovation or Scalability: The startup should be working towards an innovative product, service, or solution that can demonstrate high potential for growth. The focus is on innovation, development, or improvement of products, processes, or services.
Not a Result of Corporate Restructuring: The startup must not be formed by the splitting or reconstruction of an existing business or entity.
Not Engaged in Non-Qualifying Activities: The startup should not be engaged in activities such as earning passive income (real estate, investing in stocks, etc.), generation of profits without innovation, or providing financial services.
Benefits of Startup India Registration
Registering under the Startup India scheme provides a range of benefits, including:
1. Tax Benefits
- Income Tax Exemption: Startups can avail a 3-year tax holiday under Section 80-IAC of the Income Tax Act for the first 3 years of their business, provided they meet the specified criteria (such as having a turnover of less than ₹25 crore).
- Tax Exemption on Investments: Startups are eligible for exemption from tax on capital gains if the investments are made in specified funds or in a startup.
2. Funding Support
- Funding through Government Schemes: The government provides various funding opportunities through schemes like the Fund of Funds for Startups (FFS), managed by the Small Industries Development Bank of India (SIDBI). The scheme aims to support startups with funding in the form of equity investments.
- Facilitation of Loans: The Startup India Hub connects startups with angel investors, venture capitalists, and other funding opportunities. Startups can also avail easy access to government-backed loans under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme.
3. Regulatory Benefits
- Self-Certification for Compliance: Under the Startup India initiative, startups can self-certify their compliance with labor and environmental laws. This reduces the compliance burden on startups and helps them save time and costs.
- Faster Patent and Trademark Registration: The Startup India scheme provides a fast-track mechanism for patent and trademark registrations. Startups are entitled to a 50% rebate on patent filing fees and faster processing of patent and trademark applications.
- Startup India Hub: This hub is a one-stop solution for all startup-related queries and assistance, providing a platform for networking, support, and access to various resources.
4. Easy Exit Policy
The Government has introduced an easy exit policy for startups under which a startup can wind up operations within 90 days in case it is no longer functional. This allows the entrepreneurs to have an easier and more structured way to shut down their businesses if required, without complex legal hassles.
5. Intellectual Property (IP) Facilitation
- Intellectual Property Rights (IPR) Benefits: Startups are provided with easy access to legal advice for intellectual property protection, including patents, trademarks, and copyrights.
- Support for Innovation: The Startup India initiative aims to promote and protect innovations through IP registrations and offers financial support to startups for obtaining patents and trademarks.
6. Networking and Mentorship
- Mentorship Support: Registered startups have access to a network of mentors, industry experts, and business leaders who can provide guidance and strategic advice.
- Networking Events: Startups can participate in networking events and conferences to meet potential investors, customers, and collaborators.
7. State Support
- Support from States: The Startup India initiative encourages states to establish policies that foster entrepreneurship, such as tax exemptions, ease of doing business, and other incentives for startups to operate smoothly in their respective states.
Process of Startup India Registration
The process of Startup India Registration is simple and can be done through an online application process. Below are the steps involved:
Step 1: Incorporate Your Business
Before registering as a startup, your business should be incorporated as a Private Limited Company, Limited Liability Partnership (LLP), or Partnership Firm. You must also ensure that your business meets the eligibility criteria for Startup India.
Step 2: Register on the Startup India Portal
- Visit the official Startup India website and sign up for the Startup India Registration.
- Fill out the registration form with essential details about your business, including its name, type of entity, date of incorporation, industry sector, and other relevant information.
- You will also need to upload a Certificate of Incorporation or Registration and any other supporting documents.
Step 3: Get DPIIT Recognition
Once the application is submitted, the Department for Promotion of Industry and Internal Trade (DPIIT) will verify the details and, if everything is in order, grant the recognition certificate. This recognition is valid for a period of 5 years, and it provides your business with the benefits of the Startup India Scheme.
Step 4: Avail Benefits
After registration, you can start availing of various benefits, including tax exemptions, funding opportunities, and legal support for IP filings. You will also be able to access the Startup India Hub, mentorship programs, and other resources for startups.
Documents Required for Startup India Registration
- Certificate of Incorporation or Partnership Deed or LLP Agreement.
- Pitch Deck or Business Plan.
- PAN Card of the business entity.
- Proof of Business Address.
- Details of the Directors/Partners/Founders.
- Self-Certification by the Applicant confirming that the business meets the Startup India criteria.
Why Choose Deepak Prakash & Associates for Startup India Registration?
Expert Guidance: Our team of professionals has extensive experience in assisting startups with the entire registration process and ensuring compliance with all legal and regulatory requirements.
End-to-End Support: From business incorporation to availing of tax benefits, funding support, and IP protection, we provide end-to-end services for startups to maximize their growth potential.
Hassle-Free Process: We handle all paperwork and procedural formalities, making the registration process quick and hassle-free for you, so you can focus on growing your business.
Strategic Advice: Our team offers strategic advice tailored to your startup’s industry and needs, helping you make the best use of the Startup India benefits and resources.
Affordable Pricing: We offer competitive and transparent pricing for our Startup India Registration services, ensuring that you get high-quality assistance at a reasonable cost.
Dedicated Support: We provide ongoing support and assistance to help your startup stay compliant and take full advantage of the government’s initiatives and schemes for growth.
