Startup Registration

Startup India has emerged as a new door for growth and new opportunities. If you want to be an entrepreneur, Startup Registration is where it begins. GarudaMudra is there with you to provide what is the necessary things required to make the startup registration in india smooth and easy!

A new business or company is termed as Startup. It becomes registered and remains so for 10 years. You need to register your startup online to avail the benefits of Government schemes and incentives.

The GoI has been developing a Startup India Scheme to promote growth for young businesses. This programme comes with tax breaks, state subsidy, patent fee coverage, and so on. Start-ups have to get themselves registered under the Department for Promotion of Industry and Internal Trade (DPIIT), to avail these after fulfilling certain conditions.

What is a Startup?

What is a Startup? Most startups start off with one or two founders who bring creativity and enthusiasm to the table.

Unlike traditional small businesses, which tend to remain relatively small, startups are businesses designed to grow quickly and command markets. They have something new and exciting about them, which is why the government supports them.

The Government of India has created an enabling environment to promote startups and innovation. This not only stimulates economic development but also creates massive employment opportunities.

The objective of Startup recognition is to:

1. Reduce heavy compliance requirements.
2. Lower regulatory costs.
3. Free up founders to do more of their core business, not paperwork.

What it Really Takes to be a Startup in India?

It is called a Startup when you start your new business and when it is at an initial stage of growth. Unlike established companies, startups generally don’t have much funding when first launching, but they do have the right ingredients for success:

1. Dedication
2. Innovation
3. Courage

Such ventures also offer potential to the government to provide support to the same under different schemes. Registered Startup in India Simply with Startup Registration your business will have acclaim and benefits.

Advantages of Registering a Startup in India

So there are tons of benefits of registering your startup in India:

1 – Simple and Hassle-Free Registration

Startup registration Unlike Classical company registration, startup registration is fast and simple. It’s online, simple to follow and will aid your new business in its takeoff.

2 – Lower IPR Registration Costs

Upon registration, startups get discounts for registering your intellectual property such as patents, trademarks and copyrights—including half-price! So that your brand and your ideas are legally protected without costing you a fortune.

3 – Access to Government Funds

The government of India offers special funds and financial support to its registered startups, considering them as businesses with innovative business ideas and having potential to create jobs and bring value in the market.

4 – Tax Benefits for 3 Years

Income tax is free for the first 3 years for newly registered startups. This allows young companies to grow without being taxed when they are new.

5 – Attracting Venture Capitalists

With recognition and the associated benefits, investors are more comfortable backing founder-run startups. Fewer risks and government backing ease the process of raising capital for entrepreneurs.

(That is when you can receive even more benefits once you get the Startup Certificate.)

Startups that can register in India

The Following Business structures are eligible for enrolment in Startup Registration:

1. Private Limited Company – This is the most popular structure of a startup in India.
2. Limited Liability Partnership (LLP) – Can be registered under Startup India.
3. OPC – Even single promoters having innovative ideas may take advantage of this structure.
4. Partnership Firm – In the name under the Partnership Act, 1932.
5. Producer Company – For farming and other rural enterprises.
6. Public Limited Company – If the registered date happens to be early.
7. Nidhi Company – Can also register under Startup India.

Note: Sole Proprietorship is not included. However, if you are an owner, GarudaMudra can help you convert it into an OPC or a different entity.

Startup India Registration Eligibility Requirements

Your Startup if you have a Business in India, needs to fulfil following conditions to avail for SI Registration :

1. Age of the Company – Up to 10 years from the date of incorporation.
2. Turnover – The aggregate turnover in a financial year should not be more than hundred crore rupees.
3. Innovation & Scale – Your business should be in the process of developing a new product, service, or process that has the capacity to scale and create jobs or wealth.
4. Type of Entity – Private Limited Companies, LLPs and Registered Partnerships only.
5. Not split/reconstructed – The startup must be new and not one previously split and divided into smaller units.

Document Needed for Startup Registration in India

You’ll need the following documents:

1. Certificate of Incorporation of Company/LLP or Partnership registration proof.
2. PAN card of the company.
3. Email ID and mobile number.
4. Business information – the industry, sector, registered office address, etc.
5. Details of authorised representatives.
6. Proof of concept – Pitch deck, website link, or product demo video.
7. How the startup will make money: A revenue model.
8. Business description write-up that demonstrates innovation, scalability or job creation.

Steps for Registering a Startup in India

The step-by-step processes included in it are:

1. Register Your Business – Register as a Private Limited Company, LLP, Partnership Firm, etc.
2. Enrol for Startup India – Fill up the form online on Startup India.
3. Get Recognised by DPIIT – This recognition can give you tax holidays, rebates on IPR, etc.
4. Provide Official Documents – Upload all official documents online as part of the application process.
5. Receive Recognition Certificate – After you are approved, you will get your Startup Recognition Certificate digitally.

How GarudaMudra Can Help You

We, at GarudaMudra, help you complete Start Up Registration in India. Our services include:

1. Filing your Startup application.
2. Drafting and preparing required documents.
3. Incorporating your company/LLP/partnership.
4. Chasing all the government departments until approval.

Through our team of experts, CA/CS partnering, Startup Registration becomes a matter of seamless process, just like helping you build your business.