Startup India Registration
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What is Startup India Registration?
In these times, Startups are becoming very popular in India. In order to promote innovations & expansion of business, Government has promoted a Startup India initiative to recognize and promote startups. This scheme is envisaged at transforming India into a job provider rather than a job seeker. Only an entity registered as a Partnership firm or Limited Liability Partnership or a Private Limited Company can get recognition under Startup India. Only an eligible entity can take registration under the said scheme and this can be done through online Startup India website.
Process of Startup India Portal Registration
Register as a Startup
The business which you have incorporated must be registered as a startup which is done online through Startup India website.
DPIIT Recognition
After creating profile on Startup India website you have to avail Department for Promotion of Industry and Internal Trade (DPIIT) Recognition. This recognition helps to avail benefits to startups. After getting this done, you have to fill Recognition Application.
Submission of Documents
Documents required for registration have to be submitted for verification.
Get Recognition Number
Final step of registration is getting the Recognition number. This will be done after examination of all the documents which is usually done in 2 days after submitting the details online.
Advantages of Startup India Portal Registration
Exemption from Tax
Any entity registered under the Startup India Scheme can apply for income tax exemption under section 80 IAC. Such an entity can get tax exemption for 3 consecutive financial years out of first 10 years from the date of incorporation subject to following conditions: (1) An entity should be a Private Limited Company or Limited Liability Partnership. (2) It shall be incorporated between 1st Apr, 2016 to 1st Apr, 2021.
Self Certification
: Startups can get self certified for compliances under 6 labour laws and 3 environmental laws from the date of incorporation.
Rebate in Trademark & Patent filing fees
Startups registered under this scheme can get rebate on the government fees for filing a Trademark application. In case of Patent application, 80% rebate is available and you can also get benefit of fast track patent application.
Fast Exit
Startups registered under this scheme will be wound up on a fast track basis. Under the Insolvency and Bankruptcy Code, 2016, Startups with simple debt structure can be wound up within 90 days of filing an application for insolvency.
Eligibility for Startup India Portal Registration
- Business Structure -- Entity must be registered as Private Limited Company OR Limited Liability Partnership OR Registered Partnership firm.
- Turnover -- Turnover should be less than Rs. 100 crores in any of the previous year.
- Time Limit -- It can be considered as a startup up to 10 years from the date of incorporation.
- Activity -- A Startup must be involved in the activities towards innovation or improvement in existing products or services and must be capable of generating employment or wealth creation
Packages
Basic
What's included
- Startup India Registration
- Digital Signature (Organization)
- Business Plan
- Expert Consultancy
Basic
What's included
- Startup India Registration
- Private Limited Registration
- GST Registration
- MSME Registration
- MOA/AOA/PAN/TAN
- PF/ESI Registartion
- Digital Signature (Organization)
- Digital Signature (Individual)
- Expert Consultation
Basic
What's included
- Startup India Registration
- MSME Registration
- GST Filing for One Year
- MOA/AOA/PAN/TAN
- Digital Signature (Organization)
Frequently asked questions
Who can register with Startup India?
An entity (Private Limited Company or Partnership Firm or Limited Liability Partnership) can register themselves under the Startup India Scheme. The annual turnover of these businesses should not exceed 100 crores & they should have been in existence for upto 10 years from the date of registration. Such an entity should be working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property.
A one person company, being a private limited company is entitled to be recognized as a 'startup'.
Can a foreign company register under the Startup India hub?
Any entity that has at least one registered office in India can register itself on the hub. However, soon the government hopes to start registrations for stakeholders from the global ecosystem too.
What is the validity of a Startup Recognition?
Any business entity will be valid as a Startup till completion of 10 years from the date of its incorporation and also if it has exceeded the previous years turnover of 100 crores.
Can an existing entity register itself as a “Startup” on the Startup India Portal?
Yes, as per the law an existing entity can register itself as a startup, provided that it meets the prescribed criteria for a startup. They will also be able to obtain various tax and IPR benefits that are available to startups.
Once my registration is successful, will I get a certificate?
Yes. On successful registration and after validation, you would be able to download a system generated verifiable Certificate of Recognition.
Would a One Person Company (OPC) be eligible to avail benefits under the Startup India initiative?
Yes. One Person Companies are eligible to avail benefits under the Startup India initiative.
What are the benefits obtained from DPIIT?
- Simplification and Handholding
- Funding and Incentives
- Incubation and Industry Academia Partnership
What is the difference between an accelerator & an incubator?
Startup incubators are ordinarily organizations that help business people by building up their business, particularly in the underlying stages whereas Startup accelerators strengthen beginning time and development driven organizations.
Why do investors invest in a Startup?
Putting resources into a startup is an unsafe recommendation, yet the low necessity for overhead capital joined with high upside potential, makes it worthwhile for investors to put their finances on new companies.