Startup Registration Process in India
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Startup Registration Process in India
Any business which is started by an individual or a group of individuals to bring any innovative goods or services to the market is commonly known as a “Startup”. These business innovations can be identified by their innovative, flexible, and saleable business ideas. Startups bring competition to the established market by challenging them with their distinguished and better products & services. The Founders of startups have the ability and flexibility to take risks and push boundaries.
The registered new startup must remain a startup until 10 years of its registration. There are specific requirements relating to legal and administrative processes that may vary depending on the country and jurisdiction. To get registration as a startup in India, one needs to consider the following: the startup registration process in India.
- Choose Business Structure: It is important to determine the legal structure of the business such as sole proprietorship, partnership, limited liability partnership, one-person company, limited liability company, or corporation. Each structure has its own value and advantages in the form of liabilities, taxation, etc.
- Business Name Registration: Identify a unique name for its startup and get it registered on the government’s official website The availability of the name can be checked with the registrar.
- Registration with Tax Authorities: To file the various statutory filings and documents, it is necessary to obtain various registrations such as Tax Identification Number/ Employer Identification Number (EIN) GST Registration, PAN Registration, TAN Registration, etc. with the relevant authorities
- Registration with Regulatory Authorities: Registration with regulatory authorities is an important step for specific businesses depending on their operations and the area in which they operate. Registration with regulatory authorities includes registration under The Employees’ Provident Fund and Miscellaneous Provisions Act, 1952, Employee State Insurance Act, 1948, Labour Welfare Fund, etc.
- Obtain Permits and Licenses: Startups are required to obtain various permits and licenses in order to meet the legal requirements. The nature of permits or licenses varies from business to business. Eg. License under the Shops and Establishment Act 1948.
- Business Bank Account: – In order to separate the personal and business finance transaction it is advisable to open a business bank account that can help you to track your income and expenses from business.
After understanding the basic criteria of a startup, let’s understand the process of startup registration
The following are the documents and information that are required for business registration:
- Proposed Business Name.
- Nature of Business.
- Company’s legal structure (Sole Proprietorship, Partnership, LLC, Company, etc.)
- Identification documents (PAN, Passport, or any other official document) and Basic information of Shareholder, director, or partner (mail id, contact no, address, etc).
- Details of Authorised Share Capital.
- Details of Authorised Representative.
- Address Proof (Electricity Bill, Rent/Lease Agreement, etc.)
- Digital Signature Certificate.
Komplytek as a consultant and outsourcing service provider helps you to get your business registered with the following offerings:
- Business Name Registration.
- Certificate of Incorporation.
- Shops and Establishment Registration.
- “Business Commencement Form” – INC 20A.
- Drafting of Documents and Agreements.
- Memorandum of Association and Articles of Association.
- GST Registration.
- TAN Registration.
- PAN Registration.
- Registration with Regulatory Authorities.
- Patents, Trademark Registration.
- DIPP Registration.
We as a “one-stop solution” help the business organization to make their business operation more effective with the integration and streamlining of the services. By outsourcing the finance and compliance functions to us, business owners are able to improve their working efficiency by focusing on their essential and core business activities. Additionally, we provide assistance with the startup registration process in India, ensuring that new businesses can navigate the legal requirements and establish a solid foundation for their operations.
Komplytek provides a wide range of services relating to Finance, Compliance, HR, and Payroll and helps to expand their operations without the findings of new providers or managing multiple relationships. Legal and Compliance Issues, tax considerations, and central/federal and state laws and regulations play significant roles in managing any business.
