Startup Registration

Eligibility requirements for Startup India registration:

Company Registration: The business must be registered as a limited liability partnership, a partnership firm, or a private limited company. The startup must be financed by an incubation fund, an angel fund, or a private equity fund for DIPP to approve it.

Have Patron Guarantee From: The Indian Patent and Trademark Office ought to have provided the business with a patron guarantee. Additionally, a letter of reference from an incubator is needed.

Existence of the Company: The Company should not be more than five years old and shall not have annual revenue in excess of Rs. 25 crores. Innovative and Scalable Entity: The entity should strive for product or service innovation, development, or enhancement. It is a scalable company concept with a great chance of producing income or jobs.

Advantages of the Startup India Registration

The Startup India Scheme has the following advantages:

Income Tax Advantages

Startups are now free from paying income tax for three years from the date of formation, if the InterMinisterial Board of Certification certifies them as such. Additionally, the company will not be subject to capital gains tax under Section 56 of the Income-tax Act, 1961-2014 after receiving recognition from the Department for Promotion of Industry and Internal Trade (DPIIT), provided that the total paid-up share capital and share premium of the startup after the proposed issuing of shares, if any, does not exceed $25 crore.

Financial Advantages

Startups receive an 80 percent refund on patent IPR fees and a 50 percent rebate on trademark IPR costs from the government, and these facilitators actively help startups defend and commercialize their IPRs. The IPR application review and decision-making processes are also expedited. The facilitators' fees will also be covered by the government.

Registration Benefits

Due to the stringent criteria, startup registration in India is still incredibly complicated, with incorporation and registration being seen as being more challenging than actually operating a firm. The strategy includes a site that promotes business support and networking possibilities. The government has provided a problem-solving window as part of the initiative.

Funding Advantages

Startups accredited under the program may get initial capital from some states. Should be aware of your state's laws and standards.

Benefits for Startup India Scheme of Regulation

Under this program, entrepreneurs are permitted to easily self-certify compliance with six labor regulations and three environmental statutes. No inspections of labor laws shall be carried out for a period of five years unless a credible and verifiable complaint of a violation has been made, submitted in writing, and authorized by a representative who is at least one level above the inspecting officer.

Startups that fit into the "white category" (as the Central Pollution Control Board defines it) for environmental rules would be able to self-certify compliance, and only random checks would be made in such circumstances.

Benefits of Public Procurement

Once your firm is established, you may sign up as a seller on the Government of India's e-Marketplace to obtain access to all of its Ministries, Departments, and Public Sector undertakings. Certification from the Inter-Ministerial Board of Certification and a DIPP (Department of Industrial Policy and Promotion) number has been issued to you. This is subject to your ability to meet quality and technical requirements.

Certified startups under the Startup India program will also be eligible to exemptions from the criteria for past turnover and experience, as well as from the earnest money deposit in your offer.

Faster Exit Advantages

By appointing an insolvency expert to expedite the closure of operations, smooth the sale of products and the payment of creditors, all while recognizing limited liability, the government has introduced regulations that make winding down operations simpler. Startups with a straightforward debt structure or those that satisfy the requirements listed under this program will be able to execute their departure within 90 days.

What are the Benefits from DPIIT?

The next stage is to apply for recognition from the Department for Promotion of Industry and Internal Trade (DPIIT) after building a profile on the website. This recognition enables startups to take advantage of benefits such as easy company winding, the benefit of self-certification under environmental and labor laws, and a relaxation of the requirements for public procurement, accessibility to funding, tax exemption for three years in a row, and tax exemption on investments that exceed fair market value.

Companies that are DPIIT registered can take use of the benefits listed below provided under the Startup India Registration Scheme:

• Simplifying and supporting

Legal support has also been doable and easy thanks to considerably simpler compliance and a method for exiting for unsuccessful start-ups.

• Funding and Incentives

Aside from the fact that income tax and capital gains tax exemptions are offered, money is also obtained to add further funding to the business.

• Partnership between Industry and Academic Incubation

There are ever more incubators, creative laboratories, events, competitions, and grants.

What is the Trademark Assignment Process?

Step 1: Submit an application.

The assignee, assignor, or both must submit an application for the trademark assignment as the initial stage.

Step 2: Submit the Document and the Required Forms

The applicant must complete Form TM-P and provide all relevant information (original copies of officially attested papers).

Step 3: Applying to the Registrar

In immediately after submitting the application, you must file it with the trademark registrar within three months after acquiring ownership. It will focus primarily on these two crucial actions:

1. Inform the candidate of the task. Or
2. Call to offer evidence if he has any reservations or mistakes.

Step 4: Registrar's Instructions

When a trademark transfer with goodwill occurs, the trademark registrar's approval must be obtained prior to the 3-month deadline. It can, however, be prolonged.

Step 5: Publicity

The registrar will provide the applicant with instructions on how to publish the notice. Additionally, a copy of the advertising and the Registrar's instruction should be supplied.

Step 6: Transfer of ownership is

When the Registrar is satisfied that the necessary paperwork has been submitted, he will formally transfer ownership of the trademark from the assignor to the assignee.

Restrictions on Trademark Assignment

The following limits on trademark assignment are set forth in the Trademarks Act of 1999:

Separate Use Limitation

When the assignment creates exclusive rights in various people in connection to the same or comparable goods or services and is likely to mislead or cause confusion, the assignor cannot assign a trademark. Thus, it is prohibited for one individual to hold several exclusive rights to the same or similar goods or services. It prohibits the concurrent use of a trademark by several parties in connection with the same or comparable goods or services.

Restriction on Multiple Territorial Uses

When a trademark assignment leads in the development of an exclusive right for several individuals in different regions of India in relation to the same or comparable goods or services, The trademark cannot be transferred by the assignor. When an assignment leads in the development of an exclusive right for multiple individuals in various locations within India with regard to same or comparable goods or services sold or provided outside of India, the assignor is not permitted to assign the trademark. As a result, it is prohibited to grant rights to same or comparable goods or services in various areas of India.

Startup India Scheme: Required Documents

The following conditions must be met, and applying for a loan under the program requires a rather lengthy paperwork process.

• ID Verification

Any valid government-issued picture ID is accepted by the bank.

• The Address Proof

Any formal document that lists the addresses of the person and the business.

• Company Documents

Memorandum of Association (MOA) and Articles of Association (AOA) of the corporation. A partnership deed is required in the event of a partnership firm.

• Patent Records

Asset and liability statements for the borrower and the guarantor. The three most recent balance sheets of the firm.

• Documents for incorporating a company

Certificate of Company Registration from ROC

List of Startup India Program criteria

The Startup India Scheme's check list is as follows:

• The business must be formed as a limited liability partnership, partnership firm, or private limited company.
• The startup must be financed by an angel investment, private equity, or incubation fund for DIPP to approve it.
• The Indian Patent and trademark office was supposed to provide the business with a patron guarantee.
• It needs a letter of recommendation from an incubator.
• Under the Startup India Scheme, SEBI registration is required for networks.
• The business must be brand-new or no older than five years, and its annual income cannot be greater than Rs. 25 crores.
• Capital gains are not subject to income tax under the Startup India initiative.
• Capital gains are not subject to income tax.
• It strives towards the development, innovation, or enhancement of goods, processes, or services.
• It is a scalable company concept with a great chance of producing income or jobs.

Registration for the Startup India Scheme Application Process

Registration of your business as one of the following entities is the first and most important step:

PLC or Private Limited Company

While submitting an application for the startup India scheme, starting your business as a private limited company under the 2013 Companies Act would be a significant benefit. You must register your business. For straightforward instructions and a hassle-free private limited company registration process.

LLP or Limited Liability Partnership

Our experts can quickly register a limited liability partnership. Speak with our specialists, provide all the necessary paperwork, and then unwind. Our team of specialists in business incorporation will finish the registration and deliver the certificate of incorporation.