Startup India Registration is a must nowadays for all innovative startups

3 Years tax holiday for startups

Benefits on Trademark application

Easier to obtain Bank Loan

Includes Government & Professional Fees

Thinking to start your business? Then go for startup India in which there are special schemes by the government, generation of employment, and wealth creation, it was launched on the 16th of January 2016, by PM Narendra Modi, New Delhi.

A startup is a newly established company, generally small which is started by 1 or a bunch of people. What differentiates it from other new businesses is that a startup offers a new service or product that is not being given elsewhere in the same way; the business either develops a new service / product or redevelops a current service / product into something better.

In India startups are becoming very popular and in order to expand Indian economy and attract capable entrepreneurs, the Government of India and it was launched on the 16th of January, 2016 by Prime Minister Narendra Modi at Vigyan Bhawan, New Delhi.

You should first incorporate your business as a Partnership firm, a Limited Liability Partnership or a Private Limited Company. You have to pursue all the usual process for registration of any business like obtaining the certificate of Incorporation, PAN, and other compulsory compliances.

Business should be registered as a startup and the entire process is very easy and online, all you have to do is log on to the Startup India site and fill up the form with suitable particulars of your business and upload certain documents.

A letter of recommendation

It should be submitted along with the registration form and any of the following will be valid-

• A advice (regarding innovative nature of business) from an Incubator recognized in a post-graduate college in India , in a particular format by the Department of Industrial Policy and Promotion (DIPP); OR
• A letter of support by an incubator, which is funded by Government of India as part of any specified scheme to promote innovation; OR
• A letter of recommendation (regarding modern nature of business), from an Incubator, recognized by the Government of India in DIPP specified design; OR
• A note of money should not be less than 20% in equity, by any Incubation Fund/Private Equity Fund/Accelerator, accordingly registered with SEBI that endorses modern nature of the business; OR
• A letter of funding by Government of India or any State Government as part of any particular scheme to endorse innovation; OR
• A patent should filed and published in the Journal by the Indian Patent Office in areas affiliated with the nature of the business being promoted.

Registration Certificate- You are required to upload the certificate of incorporation of your company/LLP (Registration Certificate in case of partnership firm)

Description of your business in brief:- A brief explanation of the innovative nature of your services/products.

Do you have any queries about finance or tax you need help with?

Talks to our CA Startups are exempted from income tax for 3 years, but to avail these profits, they must be certified by the Inter-Ministerial Board (IMB). Start-ups renowned by DIPP, Govt. of India can now openly avail IPR related benefits without requiring any additional certification from IMB.

• You must register your new company as a Limited Liability Partnership, Partnership firm or a Private Limited Company
• Your business should be incorporated in India, not before 5 years.
• Income should be less than 25 crores per year.
• Innovation is a must– the business must be working towards innovating something new or improving the existing used technology.
• Your company must not be as a consequence of splitting up or reconstruction of an existing company.

• On applying right way you will get a recognition number/ID for your startup and the certificate of recognition will be issued after the inspection of all your documents.

  Stay alert while uploading the credentials online, if on subsequent verification, it is found to be obtained that the mandatory document is not uploaded/wrong document uploaded has been uploaded then you shall be legally responsible to a fine of 50% of your paid-up capital of the startup with a minimum fine of Rs. 25,000.

• 1. Trademarks, patents and design registration

  If you require a copyright for a trademark or innovation for your business, you can easily move toward, any from the list of facilitators issued by the government. You will have to bear only the statutory fees thus getting an 80% reduction in fees.

  1. Funding

  One of the key challenges faced by many startups has been accessing to money and due to lack of knowledge, safety or existing cash flows, entrepreneurs fail to attract investors. As well, the high-risk nature of startups, as a important percentage fail to take-off, puts off many investors.

  In order to offer funding support, Government has set up a finance with an initial corpus of INR 2,500 crore and a total corpus of INR 10,000 crore over a period 4 years (i.e. INR 2,500 crore per year). The Fund is in the nature of Fund of Funds, which means that it will not spend directly into Startups, but shall contribute in the capital of SEBI registered Venture Funds.

  Key features of the Fund of Funds

  • The Fund of Funds shall be managed by a Board with professionals from industry bodies and successful Startups.
  • The Life Insurance Corporation (LIC) shall be a co-banker in the Fund of Funds
  • The Fund of Funds shall donate to a maximum of 50% of the SEBI registered Venture Funds (“daughter funds”). In order to be able to obtain the contribution, the daughter fund should have already raised the balance 50%. The Fund of Funds shall have government representatives on the board of the venture fund based on the contribution made.
  • The Fund shall ensure support to a broad mix of sectors such as education, manufacturing, agriculture, health etc.

  It’s very simple to register as a startup thanks to the various government initiatives. However, you can focus on your key area while we at VolksPhantom help you from the start to finish right from incorporating your company to getting your startup recognition. Do visit our website to know more about startup services info@volksphantom.com.

• Volks Phantom offering Startup India Registration service and other startup registration services like 12A 80G Registration, NGO Compliances, Partnership Firm Registration, FCRA Registration, Trademark Registration, Society Registration, One Person Company Registration, Change Company Name, Sole Proprietor Registration, Trust Registration, One Person Company Compliances, Change, Add or Remove Company Director, Producer Company Compliances, Food License (FSSAI) Registration, Producer Company Registration, Director KYC Verification, LLP Registration, Public Limited Company Registration, Income Tax Return Filing, GST Registration, LLP Annual Compliance Service, MSME Udyog Aadhaar Registration, Close or Winding Up Of a Company, Section 8 Foundation Registration, Commencement of Business Certificate, Digital Signature Certificate, Public Limited Company Compliances, Nidhi Company Registration, Section 8 Company Compliances, Company Registration, Nidhi Company Compliances, Private Limited Compliance, Startup India Registration, Copyright Registration, Private Limited Company Registration, GST Surrender, DIN Activation, Change Company Address or Registered Office, Chartered Accountant Consultation, ISO Certification, Import Export Code | IEC Certification, NGO Registration, GST Return Filing, etc for fresh startups and entrepreneurs. We offer the cheapest and fastest professional services in all states like Jharkhand, Odisha, Mizoram, West Bengal, Arunachal Pradesh, Andhrapradesh, Haryana, Assam, Punjab, Uttar Pradesh, Jammu and Kashmir, Andhra Pradesh, Uttarakhand, Delhi, Goa, Rajasthan, Kerala, Chhattisgarh, Bihar, Daman and Diu, Madhya Pradesh, Gujarat, Sikkim, Puducherry, Meghalaya, Karnataka, Nagaland, Manipur, Telangana, Tamil Nadu, Tripura, Himachal Pradesh, Maharashtra, Andaman and Nicobar Islands, Dadra and Nagar Haveli, etc. Our charges for Startup India Registration in India is among the cheapest and most affordable. We deliver what we promise always.

• Volks Phantom is building one of India’s largest financial services marketplace for SMEs and Startups. We understand the financial needs of startups, right from Company Registration to Fundraising, Debt Financing to Investor Relations Management and managing Government Compliances. To help SMEs and Startups start, manage and grow their business, we have a panel of Chartered Accountants (CAs) from across India. We bring you all of the services that a SME startup requires such as Registration, Trademark, ISO, FSSAI License, Startup India Registration, Loan Syndication, Insurance, GST Registration and Returns and everything at one place.