Importance of Startup India Registration


Importance of Startup India Registration

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Startup India Registration is an initiative by the government of India, to promote entrepreneurship and innovation. This initiative enables startups to self-certify compliance with certain labour and environment laws. The registration process is simple and affordable. It can help your business receive more funding and investments from investors as it provides a sense of legitimacy to the company. It also helps protect your intellectual property from being used without permission by others.

To qualify as a Startup Registration, your business must be a private limited company or a limited liability partnership, with the ownership in the hands of Indian citizens or entities. It must also be a new firm, not older than five years, with a total turnover of less than 25 crores. Additionally, it must have approval from the Department of Industrial Policy and Promotion (DIPP) or a recommendation letter by an incubation. It should also provide innovative schemes or products.

To register your startup, you must visit the Startup India portal and fill out a form. You will need to enter basic information about your company and upload relevant documents. The application process is completely online and will take a few minutes to complete. Once you've registered, you'll receive a certificate that verifies your startup's eligibility for Startup India benefits. These include tax exemptions on capital gains, 80% rebate on patent filing fees, and faster processing of applications for intellectual property rights. You'll also get access to a network of other startups and larger connections with businesses and investors.

 

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