Start-up is a business that has an association of person or a group of few people that manage to solve the problems related to such business. Basically, the formation of such a start-up can be seen on the grounds when the founders of any existing company find the problems in the existing system of a company and intend to resolve such problems by creating a new company or entity of their own. Moreover, a start-up registration can be done when the founders of the company come up with a potentially great idea or they might come to the conclusion that the start-ups provides services currently exist in inferior or does not want to sustain it further.
Definition of Startup
Any company with the following features falls into the category of Startup and is also eligible to avail the benefits of DPIIT
Benefits Obtained from DPIIT
DPIIT registered companies can avail the following benefits provided under Startup India Registration Scheme:
Benefits of Start-up India Registration
Eligibility Criteria for Start-up Registration in India
Documents required for Startup India registration
Steps to Register Your Startup with Startup India
1. Incorporate your Business
You must first incorporate your business as a Private Limited Company or a Partnership firm or a Limited Liability Partnership. You have to follow all the normal procedures for registration of any business like obtaining the Certificate of Incorporation/Partnership registration, PAN, and other required compliances.
2. Register with Startup India
Then the business must be registered as a startup. The entire process is simple and online. All you need to do is log on to the Startup India website and fill-up the form with details of your business.
3. Get DPIIT Recognition
The next step after creating the profile on the Startup India Website is to avail Department for Promotion of Industry and Internal Trade (DPIIT) Recognition
4. Recognition Application
Fill up the ‘Startup Recognition Form’ and submit the form
5. Recognition Number
On applying you will immediately get a recognition number for your startup. The certificate of recognition will be issued after the examination of all your documents which is usually done in 2 days after submitting the details online.
FAQs on Startup India Registration
Ans. To avail benefits of government schemes, entity needs to be recognized as a Startup by applying on Startup India Mobile App/portal and obtaining the certificate of recognition.
Ans. The startup certificate is valid for 5 years from the date of incorporation.
Ans. No, you just need to apply for the registration online.
Ans. You can get the certificate of recognition instantly by downloading it online from the official website after form submission.
Ans. Yes, your entity can be registered as a Startup, if you do not have your entity’s PAN.
Ans. Application process for getting certificate from IMB completes within 10-25 working days.
Ans. The registration fee for a startup shall depend on the type of company registration and shall vary from person to person.
Ans. Letter of support is a recommendation letter from the angel investors or incubators in which they declare to help the startup by providing funding or loan.
Ans. No, the application process is performed online only, so you need to fill in and submit the application form online.
Ans. Yes, a foreign national can enter into partnership under the LLP Act and register under Startup India.
Ans. Yes, One Person Company is eligible to avail benefits under the Startup India Scheme.