India Startup Registration Process

Recently PM Modi had proclaimed the theme regarding Startups and extended his support towards innovation, it’s a really smart step considering in mind tons of startups square measure rising and that they would like some style of support to survive. The StartUp Asian country initiative includes edges like tax exemption, funding, relaxation and support in registration of holding.

THE SCHEME-WHAT you have got to try to to

The number one issue you need to do is to use for recognition as a startup, for this initial thing} first is that you simply should be registered as a partnership, company or a LLP. so as to induce recognized as a startup you need to get

  1. Recommendation (with relation to innovation nature of business), during a format fixed by Department of business Policy and Promotion, from any apparatus established in post-graduate faculty in India; or
  2. Letter of support by any apparatus that is funded (in reference to the project) from Government of Asian country or any regime as a part of any fixed theme to market innovation; or
  3. Recommendation (with relation to innovative nature of business ), during a format fixed by Department of business Policy and Promotion, from any apparatus recognized by Government of India; or
  4. Letter of funding of not not up to twenty p.c in equity by any Incubation Fund/ Angel Fund/ non-public Equity Fund/ Accelerator/ Angel Network punctually registered with Securities and Exchange Board of Asian country that endorses innovative nature of the business, Department of business Policy and Promotion could embrace any such fund during a negative list for such reasons because it could reckon fit; or
  5. Letter of funding by Government of Asian country or any regime as a part of any fixed theme to market innovation; or
  6. Patent filed and revealed within the Journal by the Asian country Patent Office in areas attached with the character of business being promoted

KEEP IN MIND

You must qualify for the definition Startup as per the govt. of Republic of India Notification to urge the advantages below the theme. which means should|you want to|you need to} be qualified as below The Startup must possess

a)   Up to 5 years from the date of its incorporation/registration,
b)    If its turnover for any of the money years has not exceeded Rupees twenty five large integer, and
c)    it’s operating towards innovation, development, readying or development of latest product, processes or services driven by technology or intellectual property;

If you’re qualified as a startup and got any of the half-dozen documents mentioned on top of then you have got to use with complete documentation. Once this done the Department of commercial Policy and Promotion can issue recognition variety and therefore the startup are going to be recognized Startup

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