In India, the registration of a start-up offers various benefits, such as tax exemptions, funding opportunities, and recognition from the government. The process is relatively straightforward but involves several key steps that a new business must complete to be officially recognized as a start-up under the Start-up India Scheme.
Below is a step-by-step guide to registering a start-up in India:
Before registering a start-up, it’s essential to understand the criteria for what qualifies as a start-up under the Start-up India Scheme. According to the scheme, a start-up must meet the following conditions:
Incorporate your business as a Private Limited Company, Partnership Firm, or Limited Liability Partnership (LLP) by following the standard registration procedures. This includes submitting the necessary application and obtaining the Certificate of Incorporation (for companies) or Partnership Registration (for LLPs).
Once the business is incorporated, you can apply for recognition as a start-up under the Start-up India Scheme.
The application will be reviewed, and if the business meets the criteria, it will be recognized as an official start-up.
After registering on the Startup India portal, the next critical step is to seek recognition from the Department for Promotion of Industry and Internal Trade (DPIIT). This recognition provides access to several benefits, such as easier access to government funds, tax exemptions, and other regulatory relaxations.
Once you submit your application, your startup will be recognized by DPIIT, unlocking access to various government benefits under the Startup India Scheme.
To complete the DPIIT recognition process, you will need to upload the following documents:
You must confirm that your business meets the following conditions:
Once you’ve completed your application and the documents are reviewed, you will receive an Instant Recognition Number. The Certificate of Recognition will be issued once all your details are verified.
By completing the registration and meeting all eligibility criteria, your business will officially be part of the Startup India Scheme, granting you access to a wide range of benefits and support from the government.