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Choose a Business Structure :Decide on the most suitable legal structure for your start-up, such as a sole proprietorship, partnership, LLC, or corporation, based on factors like liability protection, tax implications, and operational flexibility.
Register Your Business Name :Conduct a business name search to ensure availability and uniqueness, then register your chosen business name with the appropriate government agency or authority. This may involve filing a "Doing Business As" (DBA) or fictitious name registration.
Obtain Necessary Licenses and Permits :Identify the licenses, permits, and registrations required to operate your start-up legally in your industry and location. Obtain these documents from the relevant regulatory authorities to ensure compliance with local, state, and federal regulations.
Register with Tax Authorities :Obtain a federal employer identification number (EIN) from the Internal Revenue Service (IRS) and register for state and local taxes, such as sales tax or payroll tax, as applicable to your business activities and location.
File Articles of Organization or Incorporation :If forming an LLC or corporation, file articles of organization (for LLCs) or articles of incorporation (for corporations) with the appropriate state agency or secretary of state's office. Follow the prescribed procedures and pay the required filing fees.
Draft Operating Agreements or Bylaws :Prepare operating agreements (for LLCs) or corporate bylaws (for corporations) outlining the internal governance structure, management roles, decision-making processes, and rights and responsibilities of owners or shareholders.
Register office of all companies must be in India .If it is a Rented Property, Rent agreement and NOC from a landlord. If it is a Self-owned Property, Electricity bill or any other address proof.
Documents submitted must be valid and not more than 2 month old.
The start-up must be registered as a Private Company, LLP or Partnership Firm
It should be a new firm or not older than five years, and the total turnover of the company should be not exceeding 25 crores .
The firms should have obtained the approval from the Department of Industrial Policy and Promotion (DIPP).
To get approval from DIPP, the firm should be funded by an Incubation fund, Angel Fund or Private Equity Fund.
The firm should have obtained a patron guarantee from the Indian patent and Trademark Office.
It must have a recommendation letter by an incubation .
Capital gain is exempted from income tax under the startup India campaign.
The firm must provide innovative schemes or products.
The start-up must not be a product of restructuring, The business must be involved in a new product or service
Startup India Hub is a one-stop platform for all stakeholders in the Startup ecosystem to interact amongst each other, exchange knowledge and form successful partnerships in a highly dynamic environment.
No. Once the company is formed, it will be valid till it is officially closed down by the owners. No renewal or fees is required. However, every year companies have to file very basic returns with ROC office.
Investing in startups is a risky proposition, but the low requirement for overhead capital combined with high upside potential, makes it lucrative for investors to put their bets on startups.
The Thomson Reuters Venture Capital Research Index replicated the performance of venture capital industry in 2012 and found that overall venture capital has returned at an annual rate of 20% since 1996 – far outperforming modest returns of 7.5% and 5.9% from public equities and bonds respectively.
Any entity having atleast one registered office in India is welcome to register on the hub as location preferences, for the time being are only created for Indian states. However, we are working on international relations and will soon be able to enable registration for stakeholders from the global ecosystem.
Yes. An entity without a PAN can be registered as a Startup. However, it is advised that a valid PAN of the entity is provided at the time of registration, as each entity is separately taxable person.
It is advised that only one mobile number of the authorized representative of the entity is provided at the time of registration. The portal and the mobile app would be sending an OTP on the mobile number provided for the user to complete authentication and registration process
Yes. On successful registration, you would be able to download a system generated verifiable certificate of recognition.
No. The application has to be submitted online only.
