What is A Startup Company in India?
Here, by a 'Startup Company' we mean a company to be set up anywhere in India to avail the benefits offered under the 'Start-Up India' initiative of the Government of India. The action plan of this "Startup India" initiative was launched formally on 16th January 2016 by Prime Minister Shri Narendra Modi; and this laudable initiative seeks to boost faster growth of Indian economy through promoting entrepreneurship and innovation in the fields associated with intellectual properties or new technologies. Creating a robust and efficient system for supporting and guiding the startups has been an inherent component of this innovative initiative of the Government of India. The welcome and lavish facilities and benefits obtainable under this initiative are listed below.As a startup company, any of the following most popular forms of start-up companies can be established, anywhere in entire India:
- Private Limited Company (The Companies Act, 2013)
- Registered Partnership Firm (The Indian Partnership Act, 1932)
- Limited Liability Partnership (The Limited Liability Partnership Act, 2008)
- One Person Company (The Companies Act, 2013)
The veteran and up-to-date company lawyers of ours one of the hugely famous and popular law firms of India, offer the complete gamut of legal services for registration and business management & expansion of each of these companies, including the service for unfortunate winding up of these. The section below gives exclusive information regarding how to register a startup company in india, to help innovative entrepreneurs of entire India.The following are some of the most welcome and significant facilities/benefits offered to the startup companies under this grand initiative:
- Credit guarantee scheme for loans
- A single window contact and clearance system
- No tax on profits for three years
- Self-certification based compliance regime
- Fast-track and heavily subsidized patent clearance system
- Easier and faster exits
- No capital gain tax for investments in startups
- Easier public procurement for startups
How to Register a Startup Company in India?
To avail the fabulous benefits listed above, any of the above-mentioned companies must get registered on the Startup India Portal and the Mobile App, after getting registered properly as per the existing processes for registration with the MCA or the relevant ROC. Here, it may be mentioned that for registering an OPC at least one director is essentially required, and for the same purpose, all these three other entities need a minimum of two directors.The following processes or tasks are the common for incorporation of these four entities in India:
- Obtaining DIN or DPIN, DSC, PAN, etc.
- Name Approval and Reservation
- Drafting requisite documents like the MOA and AOA, or LLP Agreement, or Partnership Deed, Consent Letters, Appointment Letters, Affidavits, etc.
- Filing the Application of Registration with the MCA or relevant ROC
- And, submitting all other required documents for incorporation.
For each of these startup companies to be located in any State/Union Territory of India, our expert and up-to-date company lawyers deliver efficient and reasonably-charged services for registrations both with ROC/MCA and Startup India Portal.