A start-up generally means a company that is in the first stage of its business. Start-ups are usually
small and initially funded and operated by a small number of founders or a single person.
Start-up company registration
The first thing you need to do to start a new business or start a business is to register your business.
Many business structures allow you to choose the one that works best for you. The different types of
business structures in India are:
- Limited liability company
- Limited public corporation
- Only ownership
- Limited liability company
- Association signature
- Single owner
- NGO / Tru
New businesses should be incorporated into one of these business structures based on the
business’s size, the capital invested, the number of members, and the risks associated with the
business. Each business structure has different characteristics, strengths, and weaknesses, and
entrepreneurs should consult with a business expert to determine which structure meets their
requirements.
Start-up India Registration
Once the company has entered the startup definition according to the DIPP notification, it can
register for Start-up India. Private limited companies under the Companies Act 2013, partnerships
under Article 59 of the Companies Act 1932, or companies registered as limited liability companies
under the Companies Act 2008 may obtain: If you meet the following criteria, you are in the Startup
India Registry.
Within 10 years from the date of company registration. The annual sales of the entity in any fiscal year after registration do not exceed Rs. 100 million rupees. The company is committed to innovating, developing, or improving products, processes, or services. Or if you have a scalable business model that is likely to create jobs and wealth.
MSME registration
Small and medium-sized businesses in India can obtain MSME registration to enjoy various subsidies
and benefits related to loans, taxes, and other schemes. The MSMED method has several advantages, such as subsidizing the machinery and raw materials of small and medium-sized
enterprises.
GST registration
All manufacturers, sellers, service providers, exporters, and more. They need to get GST registration
in India. All types of start-ups need to get a GST registration if:
- If total sales exceed 20 lux, or 10 lux in special categories of states.
- If your company supplies state goods.
- When a business sells goods or provides services online.
- When the company had a tax registration under the previous tax system.
- In addition to the above criteria, various other criteria are provided under the GST Act that establishes the criteria for GST registration.
- GST registration must be obtained within 30 days of the establishment of the company. Otherwise, the company will be subject to heavy penalties.
Record of Udyog Aadhar
The Udyog Aadhaar Registry is a new government initiative to support SMEs. In fact, the Udyog
Aadhaar registration process has replaced SSI or MSME registration. With Udyog Aadhaar’s
corporate registration, you can enjoy a variety of government subsidies and schemes specifically
offered to support SMEs in India.
Startup license
In addition to the above registrations, certain types of start-ups, such as stores and facilities, food
businesses, import / export businesses, and financial institutions, require certain licenses such as:
Store and establishment license for home registration
Each state has its own establishment and store law, which sets out the rules that all facilities and
stores operating in the state must follow. The law also provides for the establishment of trade
licenses. Companies that fall under the store and facility definition must always obtain a store and
facility certificate to avoid penalties and fines.
Import and export code registration
All importers wishing to import or export goods/services from India must have a valid IE code. The IE
Code must be included in all relevant customs documents. Bankers must have a valid IEC registration
to make payments abroad. You must have a PAN and check account at your bank to get the import
and export codes. Apart from this, certain businesses of non-bank financial institutions and high-tech companies
require NBFC registration, while streaming media platforms require a streaming license