How Startup Company in India get registered?

If you are planning to register your own startup. Get the detailed knowledge about the process to register them to achieve easy-going business with Wonderpay as a partner in the journey.

Over the decades, the mindset of the people in India has evolved significantly. The previous generation focused on saving money in various forms and staying in the same job for security. However, today’s generation embraces innovation, entrepreneurship, and new opportunities. The shift towards Digital payments, investing, and career flexibility is transforming the way people think about money, work, and growth. Today, the current generation public used to take utmost risk with their money and careers both. The current people prefer to work in the field of interest. There they feel they can take challenges and get satisfied. They are inclined to work on the startup and unicorns. They do so for getting the mindset of hoping to change the world for the better.

The startup culture changed the mindset of the people. This startup helped various new entrepreneurs to start their businesses with very small and unique ideas. The culture of taking risk factor transform has boosted the technological revolution. This makes an outstanding impact on the social and financial situation in our country. With the understanding of the power and potential of different startups, the Indian government positively initiated and launched “Startup India”. The government helps to initiate the startup according to the project.

• Table of Contents

  • What’s the startup?
  • Who all can register for Startup India?
  • How to get registration of your startup?
  • Top 6 steps to successfully register your startup company in India
  • Conclusion

What’s the startup?

New businesses or organizations are set up with individuals or groups of individuals. There reasons to set up a setup.

• To provide a new idea or the unique product with no one having the copyright or patent on it.
• To redevelop existing products or extract facilities in an innovative way.

If one is planning to start your new venture, some questions may put you down:

• Do you register your startup? If you are in the initial stage?
• Is registration required for startups that provide legal, agricultural, or technological services?

Yes, to all the above. As per the guidelines of India regarding startups, one should have to register under the “Startup India” scheme to get the various benefits of the government, including:

• Tax exemptions
• Easier compliance
• Many other types of assistance.

Who all can register for Startup India?

Under the Startup India initiative, an organization needs to follow the necessary conditions to be called a startup. To ensure your organization to be considered as a startup through the Department for Promotion of Industry and Internal Trade (DPIIT). Your organization should:

• Have registration as a private limited company or a partnership firm.
• The total turnover should not exceed INR 100 crore per financial year.
• The organization should work towards innovation in products or services with the power of generating employability.
• From the registration date, the time period of startup will be up to 10 years.

After completing all your ventures, you can register it with the DPIIT.

How to get registration of your startup?

The government of India has rationalized the registration process of startups. The steps involved to register a startup with DPIIT:

Top 6 steps to successfully register your startup company in India

Business Integration

When the business integrates as a private limited company or a partnership firm, it involves connecting systems and various processes and streamlining all the operations. It provides seamless communication across departments and reduces redundancies. This approach boosts business productivity by enabling real-time decision-making and data sharing. It helps businesses to adapt, improve customer experience, respond quickly to market changes, and stay competitive. Once integration is confirmed, one should gather relevant documents like

• Certificate
• Partnership or individual registration
• Permanent Account Number (PAN)

List with Startup India

The process of registration can be done through online on the website of Startup India. It ensures the relevant business details, like operator, title, startup stage, etc. One should start applying under mentorship programs.

The startup is entitled to various central government schemes according to the favorable policies to the start. Startup also entitled to pro bono services.

DPPIT’s Acknowledgment

Once successful, create a profile. All the startups must have recognition from the Department for Promotion of Industry and Internal Trade (DPIIT). It provides the startup with benefits of:

• Access to the quality intellectual property services and resources
• Get authority on procurement rules.
• Certificate of labor and environmental law
• Business closure
• Tax exemption on investments above market value
• Access to fund of funds

Recognition’s Application

It is for all the business owners of startups. Open the website of Startup India. Toggle to the “recognition application” detail page. One has to fill in the required details and submit it.

Required document

The need for company acknowledgment as a startup. The following document is required:

• Registration certificate of startup
• Details of Executive
• Evidence of concepts includes site links or any related videos.
• Trademark or patent detail, if any
• Company registration PAN number

Recognition Number

As soon as you register online, the organization gets an acknowledgement number within no time. All the verification of the submitted document completes in a few working days. Then, the organization receives a recognition certificate. All is done if everything is in order.

Note: It is important to upload all the necessary documents correctly with full caution. At the time of a false document uploaded or missed to add documents, it leads to a penalty of up to Rs. 25000.

Self-certification

Conditions for a company to self-satisfy are as follows:

• The company should have a title of private limited company, LLP, or a partnership firm.
• The company should be operational for a minimum of 5 years and have the registration in India.
• The business must be innovative and continuously improve the existing system.
• The business turnover should not exceed INR 100 crores annually.

Conclusion

The Indian government has actively promoted the growth of startups. Many startups have played a key role in bridging the gap between people from diverse financial backgrounds through their innovative ideas. They have also created employment opportunities for millions across the country. Registered startups can take the opportunity of collaborating with Wonderpay to accelerate the growth of their business. We provide comprehensive, all-in-one payment gateway solution for you websites and applications along with 24x7 Virtual Assistance and a custom checkout experience with the best success rate for all your financial transactions. Contact us today to get the best growth on your business journey!