A start-up is a new and fresh accepted business, it is started usually in a small business, started by a single or a group of persons. What converts it from other new businesses is that a start-up recommends new services or products that are not being provided anywhere in the same way. The keyword is the new technological innovation. The business either improves and develops new services or products or redevelops present services or products into something in better innovation.
According to Start-up Business Consultants in Indiranagar Start-ups are being very established in India. To innovate and develop the Indian economy and fascinated skilled businessmen or entrepreneurs, the Indian Government, under the leadership of the Prime minister, has promoted and started the Start-up India initiative to promote and recognize start-ups.
Steps to Register Your Start-up with Start-up India
Step 1: Incorporate your Business
You should primarily incorporate your business as a Partnership firm or a Limited Liability Partnership or a Private Limited Company. You have to stick to every normal procedure for registration of any kind of business like acquiring the Certificate of Incorporation or the Partnership registration, PAN, and other necessary compliances.
Step 2: Register with Start-up India
After that, the business should be registered as a start-up firm. The complete procedure is easy and digitalized. All you have to do is log on to the Start-up India website and fill up and complete the form with details and records of your business. Next, put the given OTP that was sent to your given mail and other details like, name and stage of the start-up, start-up as the type of user, etc. After entering these details, then the Start-up India profile is created.
In Start-up company registration in Indiranagar once when your profile is created on the website, start-ups can register for several accelerations, incubators, or mentorship programs and many other challenges on the website along with getting access to resources like Government Schemes, State Polices for Start-ups, Learning and Development Program, and pro-bono services.
Step 3: Get DPIIT Recognition
After that, the immediate next step after creating the profile on the Start-up India Website is to make use of the Department for Promotion of Industry and Internal Trade (DPIIT) Recognition. This authorization assists the start-ups to make use of the benefits like relaxation in public procurement norms, self-certification under labor and environment laws, easy winding of company, access to high-quality intellectual property services and resources, access to Fund of Funds, tax exemption for 3 consecutive years and tax exemption on investment above fair market value.
For acquiring DPIIT authorization, select the ‘Get Recognised’ button if you are a new user. If you are already an existing user, then select the ‘Dashboard button’ and then ‘DPIIT Recognition’.
Step 4: Recognition Application
The ‘Recognition Application Detail’ page is displayed. On this page select the ‘View Details’ section under the Registration Details section. Fill up the ‘Start-up Recognition Form’ and select ‘Submit’.
Step 5: Documents for Registration
Registration or the Incorporation Certificate of your start-up
Details and Records of the Directors
Proof of concepts like pitch video or deck or website link(in case of a validation scaling stage start-up or early traction)
Trademark details or Patent (Optional)
Step 6: Recognition Number
Yes done! On registering you will instantly get an authorization number for your start-up firm. The certificate of authorization will be given after the inspection of all your documents which is usually done in 2 days after presenting the details online.
Start-up Registration services provider in Indiranagar as you see, you should be careful while submitting your documents. If they found the upcoming verification, it is found to be given that the necessary documentation is not uploaded properly or the fake document are uploaded or the forgery documents have been uploaded then you shall be responsible for a penalty of 50% of your paid-up capital of the start-up with an at most fine of Rs. 25,000.
Step 7: Other Areas
Trademarks, Patents, or design registration: If you require a patent for your innovation of technology or a trademark for your business, you can comfortably approach any from the list of facilitators that are given by the government. You will need to hold up only the approved fees thus availing of an 80% reduction in fees.
Funding: One of the major key challenges that are faced by most of the start-ups has been acquiring finance. Due to a lack of security or existing cash flows, entrepreneurs fail to attract investors and experience. The high-risk nature of start-ups, as a significant number of percentage stop to take off, puts off many investors.
To provide the funding assistance, the Government has made up a fund with an initial entity of INR 2,500 crore and a total entity of INR 10,000 crore for 4 years (that is INR 2,500 crore per year). The Fund is in the identity of Fund of Funds, which means that it will not invest straight into start-ups, but may take part in the capital of SEBI registered Venture Funds.
Self-Certification Under Employment and Labour Laws: Start-ups can self-certify under labour laws and environmental laws so that their consent costs are deducted. Self-certification is given to deduct regulatory loads, therefore, permitting them to concentrate on their core business. Start-ups are permitted to self-certify their consents under six labor laws and three environment laws for a period of 3 to 5 years from the date of business incorporation.
Units functioning under 36 white category industries as issued on the website of the Central Pollution Control Board do not need clearance under 3 environment-related Acts for 3 years.
Tax Exemption: Start-ups are free from income tax for 3 years. But to make use of these benefits, they must be authorized and certified by the Inter-Ministerial Board (IMB). The Start-ups incorporated on or after 1st April 2016 can register for the income tax exemption.
Documents Which Have Been Waived Off
Start-up India has converted the procedure of registration since its inception. It has free from most of the past requirements at present. Most of the documents which were required to be filed in the past are waived off. The list of documents and the records that are not essential to be organized at the period of the registration are-
Letter of Recommendations
Letter of funding
How to Apply for STARTUP COMPANY REGISTRATION in Indiranagar?
Do you want to get a STARTUP COMPANY REGISTRATION in Karnataka? then we are here to help you, we are the top company incorporation service provider in Bangalore. feel free to send your inquiry to firstname.lastname@example.org or feel free to contact: 7975187793 or visit https://www.consultry.in/