Startup India Registration

Welcome to Legal AT, your comprehensive solution for legal services in India. If you’re a budding entrepreneur looking to kickstart your venture in India, you’ve come to the right place.

In this page, we’ll guide you through the process of obtaining the coveted Startup India License, a crucial step towards realizing your entrepreneurial dreams.

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What is Startup India Registration?

The Startup India License is a recognition provided by the Government of India to eligible startups, offering a plethora of benefits and incentives to foster growth and innovation in the startup ecosystem.

It is aimed at streamlining the regulatory framework for startups, facilitating ease of doing business, and promoting entrepreneurship across the nation.

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Process of Startup India Registration

  • Eligibility Check: Before applying for the Startup India License, ensure that your venture meets the eligibility criteria set by the Government of India. Your startup should be registered as a private limited company, partnership firm, or limited liability partnership (LLP), and should be incorporated or registered in India for less than ten years from the date of its incorporation/registration.
  • Registration on Startup India Portal: The next step involves registering your startup on the official Startup India portal (www.startupindia.gov.in). Fill in the necessary details and submit the required documents online.
  • Document Verification: Once your application is submitted, it undergoes thorough scrutiny by the concerned authorities. Make sure to provide accurate information and upload the requisite documents to expedite the verification process.
  • Approval and Issuance: Upon successful verification of your application, you'll receive the coveted Startup India License, along with a unique recognition number (URN), certifying your startup's eligibility for various benefits and incentives.

Benefits of Startup India Registration

Registering your business under the Startup India initiative offers several significant benefits that can greatly enhance the growth and success of your startup.

Here are some key benefits:

  • Tax Exemption: Startups registered under the Startup India initiative can benefit from a three-year tax holiday within the first ten years since incorporation. This exemption applies to income tax and can substantially improve the financial stability of your startup during its formative years.
  • Ease of Compliance: The initiative simplifies compliance requirements, providing startups with an easier and less burdensome regulatory environment. Self-certification and compliance with nine labor and environmental laws help in reducing the regulatory load.
  • Access to Funding: The government has set up a Fund of Funds for Startups (FFS) with a corpus of INR 10,000 crores to support startups through SEBI-registered Venture Capital Funds. This improves access to capital for startups and fosters an entrepreneurial environment.
  • Credit Guarantee Fund: A credit guarantee fund is available to provide financial assistance to startups, ensuring better access to bank loans and financial support without the need for collateral.
  • Rebate on Patent Costs: Startups can avail of up to 80% rebate on patent fees and enjoy a fast-tracked process for patent applications, making it easier and more affordable to protect intellectual property.
  • Incubation Support: Startups can gain access to various incubators and accelerators supported by the government, providing essential infrastructure, mentorship, and networking opportunities to foster growth and innovation.
  • Government Tenders: Startups registered under this initiative can directly participate in government tenders, bypassing the prior experience or turnover requirements, thus opening up significant business opportunities.
  • Simplified Exit Process: The initiative offers an easy exit scheme for startups, allowing them to wind up their operations within 90 days from the date of application of winding up, ensuring a smooth and less cumbersome exit process.
  • Self-Certification under Environmental and Labour Laws: Startups can self-certify their compliance with environmental and labor laws, reducing the need for regular inspections and allowing them to focus more on business growth and development.
  • Innovation Labs and Research Parks: Access to state-of-the-art innovation labs, research parks, and centers of excellence helps startups in developing cutting-edge technologies and products.
  • Public Procurement: Startups can benefit from relaxed norms for public procurement, allowing them to bid on projects and contracts from public sector companies and government agencies.

Documents Required For Startup India License Registration

  • Aadhar number
  • PAN number
  • Address of the business
  • Bank account number
  • The basic business activity description
  • Investment details (Plant/equipment details)
  • Turnover details (as per new MSME definition)

Eligibility Criteria

  1. The startup should be incorporated or registered in India. 
  2. It should be less than ten years old from the date of its incorporation/registration.
  3. Annual turnover should not exceed INR 100 crores in any of the preceding financial years.

FAQ

Startups registered as private limited companies, partnership firms, or LLPs in India, with less than ten years of incorporation/registration, are eligible to apply.

Benefits include tax exemptions, self-certification compliance, access to funding, and various other incentives to promote growth and innovation.

No, there is no fee for applying for the Startup India License. The process is entirely free of cost.

Register your Startup Business

Obtaining the Startup India License can be a game-changer for your startup, opening doors to a world of opportunities and incentives. Startup India registration provides a supportive ecosystem that promotes innovation, facilitates funding, and reduces regulatory hurdles, helping startups to focus on their core business activities and achieve sustainable growth.

At Legal AT, we’re committed to guiding you through every step of the process, ensuring a seamless experience towards achieving your entrepreneurial aspirations. 

Get in touch with us today, and let’s embark on this transformative journey together.

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