If you are reading this blog, then first Congratulations on your start-up! You finally did it. After many sleepless nights and brainstorming staring at a wall had a passionate start of your idea. And well, before you even start hiring or set up meetings with your prospect clients, it is mandated to register the start-up.
I am sure you must be wondering about the entire procedure and ho w much you are the fuel you might be wasting just roaming around the registration office. Well honestly, not anymore! The world is turning is digital, so why not register your passion digitally as well?
You must be able to define your aim and creative innovation, and let it work its magic them!
Let’s discuss the step by step process to realize the same:
Step 1: How do you wish to incorporate the idea?
Since you have already decided to set-up a business, it is essential to declare how to want to incorporate the same?
It will require:
- Partnership registration, if you want the firm to be a partnership firm
- Certificate of incorporation, if you want the firm to be registered as a Limited Liability Partnership or Private Limited Company
Step 2: Register at Startup India website
You will be required to register the name of your firm on Start-up India website and fill up some documentation for further verification.
Related: Startup Funding Options in India
Step 3: Keep your documents ready
Make sure you have the pdf format of the following essential documents ready in hand:
Letter of recommendations/ funding by the government of India/ support by an incubator/ filed patent/ certificate of incorporation
Tips while you sort your documents:
- Make sure your certificate of incorporation is not more than 5 years old.
- The estimated turnover of your start-up must not be more than 25 crores annually.
- Your start-up must not be a result of any dispute or demolishment of the registered company in India.
Keep your documentation ready every time, as it might be required anytime in the procedure.
Step 4: Get a recognition number
Once you submit all your documentation, you will receive a recognition number. The recognition certificate will be issued once your documents are verified thoroughly.
Do you require a patent or a trademark?
There are various start-ups that wish to apply for a patent for the innovation they demonstrate. In order to do the same, you can approach many facilitators that are issued under the Indian government. 80% of your fees will be deducted from the registration fee.
That’s it! Your start-up is registered. So what are you waiting for now? Open a new tab and apply for the registration. Make sure your documents are correct; otherwise be ready to pay the fine to the government.
Take your time with the registration. I am sure you have come this far so patiently, the path ahead requires some more of your patience. And then, your path will lead to limitless potentials a success! Good luck with your idea and innovation. The journey has just begun. Make sure you make the best of every opportunity that knocks you.